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The use of foreign exchange markets by non-banks

Author

Listed:
  • James O'Connor

    (Bank of England)

  • James Wackett

    (Bank of England)

  • Robert Zammit

    (Bank of England)

Abstract

As part of its Market Intelligence programme, the Bank of England monitors developments in a range of financial markets, feeding information gathered from contacts into its monetary and financial stability policy processes. This intelligence provides the Bank with insights into a variety of rapidly evolving markets, including the foreign exchange market, where turnover has more than trebled over the past decade. This article draws on this intelligence, economic theory and market data to shed light on the role that non-bank participants — both financial and non-financial — play in the foreign exchange market.

Suggested Citation

  • James O'Connor & James Wackett & Robert Zammit, 2011. "The use of foreign exchange markets by non-banks," Bank of England Quarterly Bulletin, Bank of England, vol. 51(2), pages 119-126.
    • Handle: RePEc:boe:qbullt:0050
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    File URL: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2011/the-use-of-foreign-exchange-markets-by-non-banks.pdf?la=en&hash=98881FA6AD612847DBFC00D91516A1F286D99674
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    References listed on IDEAS

    as
    1. Silvia Domit & Tamarah Shakir, 2010. "Interpreting the world trade collapse," Bank of England Quarterly Bulletin, Bank of England, vol. 50(3), pages 183-189.
    2. Tristan Broderick & Chris Cox, 2010. "The foreign exchange and over-the-counter interest rate derivatives markets in the United Kingdom," Bank of England Quarterly Bulletin, Bank of England, vol. 50(4), pages 354-365.
    3. Alain P. Chaboud & Benjamin Chiquoine & Erik Hjalmarsson & Clara Vega, 2014. "Rise of the Machines: Algorithmic Trading in the Foreign Exchange Market," Journal of Finance, American Finance Association, vol. 69(5), pages 2045-2084, October.
    4. John R. Graham & Clifford W. Smith, 1999. "Tax Incentives to Hedge," Journal of Finance, American Finance Association, vol. 54(6), pages 2241-2262, December.
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    Cited by:

    1. John Lowes & Tsvetelina Nenova, 2013. "The foreign exchange and over-the-counter interest rate derivatives market in the United Kingdom," Bank of England Quarterly Bulletin, Bank of England, vol. 53(4), pages 394-404.

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