Williams states the FX market has over $9 trillion in daily turnover, making it the largest financial market.
“With over $9 trillion in daily turnover, the FX market is the largest financial market by trading volume.”
Williams cites BIS data showing spot FX up 42 percent since 2022, forwards up 60 percent, options up 109 percent.
“The BIS Triennial Survey showed a 42 percent increase in spot FX activity since 2022.”
Williams says the FX market withstood April volatility with stable spreads and increased platform volumes.
“The market withstood those pressures, as evidenced by fairly stable bid-ask spreads, market depth, and price impact measures. Trading volumes on primary platforms also increased notably, as is typical during highly volatile periods.”