In April, the Bank of Canada and 52 other central banks and monetary authorities conducted the latest triennial survey of turnover activity in the foreign exchange (FX) and over-the-counter (OTC) derivatives markets in their respective countries. This worldwide effort was coordinated by the Bank for International Settlements (BIS) to obtain global, comprehensive and consistent information on the size and structure of the FX and OTC derivatives markets.
The Bank of Canada today released the summary results of its survey, as did many other participating central banks. As well, the BIS summarized highlights of the aggregated global turnover. All dealers in Canada that are active in the wholesale FX and OTC derivatives markets were surveyed.
With respect to FX, the survey covered spot transactions, outright forwards, FX swaps, currency swaps and OTC FX options. The interest rate products covered were forward-rate agreements, interest rate swaps, overnight index swaps and OTC interest rate options.