2016-09-01
Survey of global foreign exchange and derivatives markets: For the first time data of Lithuania as member of euro area
The Bank for International Settlements (BIS), jointly with the central banks and monetary authorities from 52 countries, prepared and published today the latest Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity. It indicates that in April 2016, when the survey was performed, Lithuania’s foreign exchange market turnover amounted to USD 4.9 billion (the average turnover of daily concluded transactions amounted to USD 0.2 billion). Euro and USD denominated transactions are prevalent in Lithuania’s foreign exchange market.
‘The objective of the BIS’ Survey is to obtain reasonably comprehensive and internationally-consistent information on the size and structure of foreign exchange and over-the-counter (OTC) derivatives markets. Compared to the results of the previous Survey, Lithuania’s market has shrunk by more than half over the last three years. However, it should be noted that this year Lithuania participated in the Survey as a member of the euro area,’ says Romas Karaliūnas, Head of the Money and Statistics Division of the Statistics Department at the Bank of Lithuania.
According to him, the OTC derivative instrument (interest rate) market in Lithuania remains modest. In April 2016, the turnover of its transactions amounted to USD 389.5 million.
The Bank of Lithuania has been participating in the preparation of the surveys of foreign exchange and derivatives markets since 2004 (this year — for the fifth time); for that purpose, banks and foreign bank branches actively operating in domestic and international foreign exchange and derivatives markets are selected. The global survey conducted in 2016 covers the data of traditional foreign exchange market transactions (spots, forwards and swaps) and OTC derivatives transactions collected from almost 1,200 major global market participants.
In Lithuania, six banks and foreign bank branches, with a 97 per cent share of the domestic foreign exchange and derivatives market, participated in the Survey.
Preliminary data of the survey of global foreign exchange and derivatives markets are available on the website of the BIS, which also presents Lithuania’s data. They are also available in the Survey of Foreign Exchange and Derivatives Market Activity in Lithuania in 2016, published on the Bank of Lithuania website.