The December 2019 BIS Quarterly review on ‘easing trade tensions support risky assets’ is available. During the teleconference pressconference statements were made on the record by Claudio Borio, Head of the Monetary & Economic Department and Hyun Song Shin, Economic Adviser & Head of Research.
This year’s issue presented several topics on:
- FX and OTC derivatives markets through the lens of the Triennial Survey
- Sizing up global foreign exchange markets
- FX trade execution: complex and highly fragmented
- Offshore markets drive trading of emerging market currencies
- The evolution of OTC interest rate derivatives markets
- OTC derivatives: euro exposures rise and central clearing advances
- Euro repo market functioning: collateral is king
Furthermore, the December 2019 issue on the BIS Quarterly Review highlighted:
- Analyses stress experienced in the dollar repo market in September
- Looks at the functioning of the euro repo market
- Outlines the primary insights gained from the 2019 Triennial Survey and differentiates the increase in trade activity with the strained growth of outstanding exposures
- Discusses how the rise in the use of FX swaps to manage funding liquidity, associated with renewed growth in prime brokerage, greatly stimulating FX trading to $6.6 trillion per day in April 2019
- Examines how electronification has changed FX trade execution
- Looks into why FX trading that involves emerging market currencies increased more quickly than for major currencies between 2016 and 2019
- Provides an explanation on why the turnover OTC interest rate derivatives more than doubled to $6.5 trillion between the years 2016 and 2019
- Calls attention to trends in the composition of outstanding OTC derivatives, especially an increase in the euro’s share by market value
