SEF Update: Activity in FX continues to lag behind other asset classes


Bloomberg sees record interest rate and CDS volumes, but FX still very slow

Financial giant Bloomberg has released some numbers and given us a glimpse into how their SEF entity is faring. And while volumes in interest rate swaps and credit default swaps (CDSs) seem to be picking up nicely, FX is lagging well behind (see chart below).

For the week of March 9-14, Bloomberg’s swap execution facility (SEF) saw record high volumes in interest rate swap (IRS) and credit default swap (CDS) trading. Bloomberg is one of very few SEFs to have a cross-asset solution which includes foreign exchange swaps.

The reason for a large increase in volumes of the SEF was the sovereign territorial tension between Russia and the West over Ukraine and the Crimean peninsula. Swaps are often used to hedge against market uncertainty and risk.

Here is a summary of the trading volume for the Week of March 9-14 on Bloomberg’s SEF:

swapsmarch914

*You can view all historical data here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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SEF Update: Activity in FX continues to lag behind other asset classes

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