Financial Services London’s (IFSL) researchers show that the greatest growth in the UK’s foreign exchange market turnover was powered by an outburst of hedge funds and a solid rise in electronic trading. The huge jump in the UK’s foreign exchange market turnover helped increase the strength of UK’s leading position as a financial capital. This present year the average daily turnover on the UK’s foreign exchange market stands on approximately $1.1 trillion (a growing increasing of over 41% from the year before). London’s trading exploded and outpaced the 38% growth in global foreign exchange volumes to a never before seen $2.7 trillion.

Both Japan and the US’ shares have dropped. Japan’s fell by 0.7 of a percentage point to 7.6% and the United States’ share sloped down to 18.2% from 18.9%. While On the other hand UK’s foreign exchange market robust growth boosted the City’s global share of total foreign exchange transactions by 0.9 of a percentage point to 32.4%. Marko Maslakovic, an economist at the IFSL, had this to say after the Financial Services London’s report was announced: “This report is another indicator of London’s strong position in global financial services. It confirms that London is not losing its share at all in the global market and the increase in electronic trading has also made funds more easily accessible to a wider variety of investors”. It was no surprise that the London’s foreign exchange market made a major rise, considering the fact that more euros traded in Britain than all the Euro countries combined and with more dollar-based foreign exchange trading in the UK than in the US.

Mia Milis is an independent trader and provides financial advice regarding foreign exchange to several institutions as well as private individuals. Being an Internet enthusiast, she has taken up to provide advice through her brilliant articles, and in recent years has also founded theforexblogger.com in order to provide a platform online traders worldwide could share experiences through. To learn more about the FOREX market, visit Mia’s website at http://www.theforexblogger.com.

About the Author

Mia Milis is an independent trader and provides financial advice regarding foreign exchange to several institutions as well as private individuals. Being an Internet enthusiast, she has taken up to provide advice through her brilliant articles, and in recent years has also founded theforexblogger.com in order to provide a platform online traders worldwide could share experiences through.

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