Transcription of Research Note - ISDA
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Research Note - ISDA
Asia-Pacific OTC Derivatives StudyNovember 2017 Research NoteDerivatives markets have grown markedly in Asia-Pacific in the past decade, with Hong Kong and Singapore now pre-eminent in regional trading of FX and interest rate derivatives (IRD). Total IRD daily average turnover in Asia-Pacific markets increased to $ billion (US dollars unless otherwise specified) in April 2016 from $ billion in April 2007, while the equivalent figure in FX increased to $ trillion from $1 trillion. This rate of growth has outstripped that of global derivatives markets. Between 2007 and 2016, IRD turnover in Asia-Pacific markets grew at 5% compound annual growth rate (CAGR), while FX turnover grew at 6%. Global IRD and FX turnover grew at 4% and 5% CAGR, respectively, over the same the increasing trading activity in Asia-Pacific markets, the trading volumes in those markets still remain low as a percentage of global trading volumes.
1 The BIS Triennial Central Bank Survey provides turnover data, which measures market activity and can be seen as a rough proxy for market liquidity. Turnover is defined as the gross value of all new deals entered into during a given period.
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