Tuesday, 23 July 2019

Questions (242)

Richard Boyd Barrett

Question:

242. Deputy Richard Boyd Barrett asked the Minister for Finance the volume of commercial trade that took place in derivatives here in 2018. [33536/19]

View answer

Written answers (Question to Finance)

The Central Bank has informed my officials that an analysis of the commercial trade in derivatives that took place in 2018 is not available. However, the 12th Triennial Central Bank Survey of Foreign Exchange and Over-The-Counter Derivatives Markets is currently being prepared by the Bank of International Settlements. This survey, conducted every three years since 1986, is the most comprehensive source of information on the size and structure of global foreign exchange and OTC derivatives markets. 

The previous survey, which was conducted in 2016 and is available on the BIS website  https://www.bis.org/publ/rpfx16.htm, showed that trading in foreign exchange spot and OTC derivatives markets averaged $5.1 trillion per day. 

More than 1,200 financial institutions in 53 countries, including Ireland, will contribute to the 2019 Triennial Survey.

The data on turnover in foreign exchange and OTC interest rate derivatives markets was collected from financial institutions in April 2019. The data on the outstanding notional amounts and gross market values of foreign exchange, interest rate, equity, commodity, credit and other OTC derivatives was collected at the end of June.

The BIS expects that preliminary results for turnover will be published in early September 2019 with the final results available in December 2019.