The average foreign exchange volume conducted by large corporate and financial institutions worldwide rose ‘slightly but significantly’ in 2002, at the same time interbank trading fell off, according to a study by Greenwich Associates. The firm noted that customer business, as opposed to interbank business, has become more important to the banks. Among the larger users globally, the average volume of foreign exchange trading by the same 716 institutions in 2001 and 2002 rose from $26.6 billion annually (all values shown are in U.S. dollars) to $28.2 billion. Among the largest of them, those that trade more than $10 billion annually, the average rose from $53 billion to $54.5 billion. By region, average forex volume is up sharply in continental Europe, Canada, and Australia/New Zealand; up slightly in Latin America, Asia, and the United States; and marginally down in the United Kingdom and Japan. The report also found that non-competitive trading was becoming more common, with 70 per cent of larger institutions conducting at least some of their foreign exchange trading on a non-competitive basis.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.