The way forward for Asian FX
Asia is not just a market for equities and bond trading. Its FX offerings have enjoyed growth well above the 57% global FX trading growth from 2001-2004, and non-deliverable forwards have played a role in attracting new players to the markets, as FXall's NDF product manager, Michael Sarro explains
The trading of Asian currencies is booming. In the Bank for International Settlements' (BIS) 2004 survey of foreign exchange market turnover, widely regarded as the most comprehensive measure of foreign exchange trading activity, overall trading was up 57% on 2001 figures.
Turnover in Asian currencies grew significantly more, with trading up 530% in the Chinese yuan, 283% in the Indonesian rupiah, 129% in the Taiwan dollar and 117% in the Korean won.
Evidence from FXall suggests that this trend is
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