Trading Activity in the Taipei Foreign Exchange Market December 2009
PRESS RELEASE Release Date: January 22, 2010
Trading Activity in the Taipei Foreign Exchange Market
December 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$379 billion in December 2009. The average daily turnover was US$16.5 billion .
Transactions between banks and customers accounted for 27.2 percent of total net turnover, with interbank transactions making up the remaining 72.8 percent .
NT dollar/foreign currency trading accounted for 50.3 percent of total trading volume, of which the share of NTD/USD trades was 47.7 percent .
Foreign exchange swaps accounted for the lion’s share with 45.7 percent of total turnover followed by spot transactions with 40.9 percent and options with 6.8 percent .
Direct trades accounted for 68.8 percent of all interbank foreign exchange transactions, and the remaining 31.2 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In December 2009, the turnovers of interest rate swaps and interest rate options were US$7.3 billion and US$0.7 billion, respectively .