FXall announced record annual trading volumes of over US$13.4 trillion in 2007. Trading activity has seen volumes increase 37% year-on-year, daily volume surpass US$98bn in the fourth quarter and growth in trading volumes continues to be driven by new client activity, in particular from the investment community, which now accounts for over 50% of volume traded over FXall. The release of the trading volumes coincide with the Bank for International Settlements (BIS) report released in December 2007 that highlights a number of key drivers for FX market growth. Significant expansion has taken place in the dealer to customer market as buy-side and corporate participants capitalise on the value in the FX market for either hedging or investment purposes. Diversification by investors with a long term vision, such as pension funds, and increasing turnover in emerging market currencies have all led to growth in trading volume in 2007. The growing role of algorithmic trading in the financial segment of the market, which accounted for half of the increase in total turnover over the past three years, is also seen as an important driver for rising volumes. Increasing focus on best execution, control and compliance has also been a factor in the growth in trading volumes over FXall as institutional FX traders, including asset managers, banks, broker-dealers, hedge funds and corporations have moved to electronic trading as the execution method of choice.
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