In 2022, the United Kingdom had by far the largest OTC (over the counter) foreign exchange (forex) market, with an average daily turnover of around 3.8 trillion U.S. dollars. Of this, the vast majority was due to various kinds of forex derivatives, with swaps being the most common forex instrument traded. Standard spot transactions, where two currencies are exchanged at an agreed price within two days and without a contact, only accounted for roughly one trillion U.S. dollars of the total average daily turnover.
Average daily turnover of over the counter (OTC) foreign exchange transactions and derivatives worldwide in 2022, by country and instrument
(in million U.S. dollars)
Characteristic
Spot transactions
Outright forwards
Foreign exchange swaps
Currency swaps
Options
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
Figures are from a 3-year survey, which was last held in 2022.
Supplementary notes
Over the counter (OTC) refers to foreign exchange transactions that occur outside regulated exchanges (such as the New Yok Stock Exchange or London Stock Exchange).
Spot transaction: the exchange of two currencies within two days without a signed contract;
Forward: an agreement for the purchase and sale of currency at a fixed price at a point in the future (generally after 90 days);
Swap: the simultaneous lending and borrowing of two different currencies between two investors (i.e. one investor borrows an amount in one currency, then repays in a different currency);
Option: an agreement to exchange one currency for another at an agreed rate at some time on the future, but with no obligation to carry out the transaction (unlike with forwards).
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Bank for International Settlements. (June 12, 2023). Average daily turnover of over the counter (OTC) foreign exchange transactions and derivatives worldwide in 2022, by country and instrument (in million U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1219222/average-daily-turnover-otc-forex-instrument-country/
Bank for International Settlements. "Average daily turnover of over the counter (OTC) foreign exchange transactions and derivatives worldwide in 2022, by country and instrument (in million U.S. dollars)." Chart. June 12, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1219222/average-daily-turnover-otc-forex-instrument-country/
Bank for International Settlements. (2023). Average daily turnover of over the counter (OTC) foreign exchange transactions and derivatives worldwide in 2022, by country and instrument (in million U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1219222/average-daily-turnover-otc-forex-instrument-country/
Bank for International Settlements. "Average Daily Turnover of over The Counter (Otc) Foreign Exchange Transactions and Derivatives Worldwide in 2022, by Country and Instrument (in Million U.S. Dollars)." Statista, Statista Inc., 12 Jun 2023, https://www.statista.com/statistics/1219222/average-daily-turnover-otc-forex-instrument-country/
Bank for International Settlements, Average daily turnover of over the counter (OTC) foreign exchange transactions and derivatives worldwide in 2022, by country and instrument (in million U.S. dollars) Statista, https://www.statista.com/statistics/1219222/average-daily-turnover-otc-forex-instrument-country/ (last visited September 01, 2024)
Average daily turnover of over the counter (OTC) foreign exchange transactions and derivatives worldwide in 2022, by country and instrument (in million U.S. dollars) [Graph], Bank for International Settlements, June 12, 2023. [Online]. Available: https://www.statista.com/statistics/1219222/average-daily-turnover-otc-forex-instrument-country/