Shifting currents in FX and interest rate derivatives

Shifting currents in FX and interest rate derivatives

Trading in both FX and interest rate derivatives markets surged in April 2025, according to the BIS Triennial Survey. What drove these increases and what do they mean for the global financial system? The December BIS Quarterly Review is a special edition delving into the data collected from more than 1,000 banks in 52 jurisdictions, uncovering the wider trends and structural shifts at play in markets. Watch the highlights in our video with Hyun Song Shin, Andreas Schrimpf and Goetz von Peter: Read more in the latest Quarterly Review: https://www.bis.org/publ/qtrpdf/r_qt2512.htm