The Riksbank's survey of turnover in the Swedish foreign exchange and derivatives market
News Turnover on the foreign exchange market in Sweden 2022 has increased substantially since 2019. During the same period, the turnover interest rate derivatives declined significantly. This was observed in the survey of turnover in the Swedish foreign exchange and derivatives markets made by the Riksbank in April this year at the initiative of the Bank for International Settlements (BIS).
The Riksbank’s survey is part of a larger survey (Triennial Central Bank Survey) coordinated by the Bank for International Settlements (BIS). The study covers 52 countries and has been carried out every third year since 1986 (Sweden has taken part in the survey since 1989). The previous study was carried out in 2019. The surveyed turnover comprises foreign exchange contracts in the spot and derivatives markets as well as interest rate derivatives.
In Sweden, the study is based on the turnover of the four largest Swedish participants, that is, Swedbank, Nordea Bank, SEB and Svenska Handelsbanken. The survey covers these banks’ total foreign exchange and derivatives trading in Sweden; not merely their trade in Swedish kronor. The Riksbank's part of the survey does not cover total trade either in Swedish kronor or in interest-rate derivatives in Swedish kronor because a large proportion of this trade is conducted from other countries. The total turnover in the Swedish SEK market and in interest-rate derivatives in Swedish kronor is described in the BIS preliminary report.