Results of the Semi-Annual FX Turnover Surveys in April 2022

Notes for editors

1. The FXJSC is a market liaison group, established in 1973 by the banks and brokers of the London FX market, as a forum to discuss broad market issues. The Bank of England chairs the Committee, which comprises senior practitioners from institutions active in the UK wholesale foreign exchange market, from the broking community, from infrastructure providers and representatives from industry associations and the relevant UK public authorities.
2. Whilst the data presented here are of a similar nature to those collected by the BIS triennial survey, the FXJSC data are collected more frequently and the basis of reporting for the FXJSC survey is the location of the price-setting dealer, whereas the basis of reporting in the BIS triennial survey is the location of the sales desk.
3. Figures from the April 2019 BIS triennial survey indicated larger volumes when compared to the April 2019 FXJSC survey. This may be due to reporting improvements made by institutions in 2019. Alternatively, pre-existing differences between the surveys’ reporting methodologies may have been magnified in 2019. However, the two surveys are broadly comparable over the long term.^{footnote [1]}
4. Results for the April 2022 BIS triennial survey are expected in September 2022. Global and UK results for the April 2019 BIS triennial survey.
5. The results of this survey are also available on the FXJSC page.
6. Reporting guidelines issued to participating financial institutions.