Statistics

Home > Statistics > Related to BIS > Central Bank Survey of Foreign Exchange and Derivatives Market Activity > Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2019: Turnover Data, Japan

Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2019: Turnover Data, Japan

September 20, 2019
Bank of Japan
Financial Markets Department

The Bank of Japan is releasing today the results for a part of the triennial turnover survey for foreign exchange and over-the-counter (OTC) derivatives market activity in Japan, concerning the data on turnover in April 2019.

I. Outline of Survey

In April 2019, the Bank of Japan conducted the triennial turnover survey for foreign exchange and over-the-counter derivatives market activity in Japan. This survey comprises a part of the Triennial Central Bank Survey coordinated by the Bank for International Settlements (BIS). The Bank of Japan obtained data from 36 financial institutions; consisting of 12 Japanese banks, 15 foreign banks, two Japanese securities houses, and seven foreign securities houses.

II. Highlights from the Japanese Turnover Results

(1) Foreign Exchange Market Activity:

Average daily turnover of the foreign exchange market in Japan in April 2019 was USD375.5 billion, decreasing by 5.9 percent from the previous survey. By type of instrument, turnover of transactions such as spot and FX swaps decreased by 11.2 percent and 5.1 percent, respectively.

(2) OTC Interest Rate Derivatives Market Activity

Average daily turnover of the OTC interest rate derivatives contracts in Japan in April 2019 was USD135.2 billion, increasing by 141.9 percent from the previous survey. By type of instrument, turnover of forward rate agreements and interest rate options decreased by 7.7 percent and 40.7 percent, respectively, while that of interest rate swaps increased by 174.3 percent.