In 2006, Currency trading volume boosted 17 Percent
A report released by Greenwich Associates on May 15, 2007 stated that the Currency trading volumes heaved about 17 percent between the trading years 2005 and 2006.
This report by the Greenwich based Forex consultancy also stated that the exchange trading volumes grew to $70.6 trillion with more than 1600 big financial firms and organizations participating in its annual survey which was held in the year 2006.
Peter D’Amario, a Greenwich Associates consultant said in his statement that in the Forex market, two trends were particularly responsible for boosting trading activity to a fresh and prospectively maintainable level, and these two trends are:
- The amplified global investment actions related to globalization
- The growing use of electronic trade and business systems.
The highly awaited Greenwich report covers just the exchange trading done by the clients in the Forex market and does not talk about or include inter bank news and trading.
The Greenwich Associates firm has also been said to state that the financial organizations supplied the major part of the rise in Forex trading between the trading years 2005 and 2006. While this was the case with the financial institutions, the hedge fund trading volumes have been said to have grown more moderately.
It was also stated by Greenwich that the number of retail Forex customers like novice traders was also rising, although the corporate trading volumes were effectively normal comparatively.
The Greenwich report also added further that while in the trading year 2005, electronic trading was reported for just about 40 percent of the trading volumes, while presently, more than half of the Forex trading volumes are carried out electronically.Â