Trading Activity in the Taipei Foreign Exchange Market in October 2009
PRESS RELEASE Release Date: November 23, 2009
Trading Activity in the Taipei Foreign Exchange Market
in October 2009
The trading activity in the Taipei foreign exchange market covers all foreign exchange transactions made by authorized foreign exchange banks and offshore banking units. After eliminating double counting arising from interbank transactions, total net trading volume in the market amounted to US$419.6 billion in October 2009. The average daily turnover was US$19.1 billion .
Transactions between banks and customers accounted for 24.2 percent of total net turnover, with interbank transactions making up the remaining 75.8 percent .
NT dollar/foreign currency trading accounted for 50.2 percent of total trading volume, of which the share of NTD/USD trades was 47.9 percent .
Spot transactions accounted for the lion’s share with 43.1 percent of total turnover followed by foreign exchange swaps with 41.8 percent and options with 8.3 percent .
Direct trades accounted for 71.0 percent of all interbank foreign exchange transactions, and the remaining 29.0 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In October 2009, the turnovers of interest rate swaps and interest rate options were US$9.5 billion and US$0.4 billion, respectively .