Trading Activity in the Taipei Foreign Exchange Market January 2010
PRESS RELEASE Release Date: March 2, 2010
Trading Activity in the Taipei Foreign Exchange Market
January 2010
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$405.9 billion in January 2010. The average daily turnover was US$20.3 billion .
Transactions between banks and customers accounted for 23.6 percent of total net turnover, with interbank transactions making up the remaining 76.4 percent .
NT dollar/foreign currency trading accounted for 46.6 percent of total trading volume, of which the share of NTD/USD trades was 44.6 percent .
Spot transactions accounted for the lion’s share with 44.0 percent of total turnover followed by foreign exchange swaps with 39.7 percent and options with 8.8 percent .
Direct trades accounted for 69.3 percent of all interbank foreign exchange transactions, and the remaining 30.7 percent was through money brokers .
In addition to the above-mentioned foreign exchange transactions, other derivatives were also offered by banks. In January 2010, the turnovers of interest rate swaps and interest rate options were US$22.6 billion and US$1.2 billion, respectively .