Regulatory Alerts2026-02-04
Results of the Semi-Annual FX Turnover Surveys in October 2025
The Foreign Exchange Joint Standing Committee (FXJSC) published the October 2025 semi-annual turnover survey results, aggregating data from 25 financial institutions active in the UK foreign exchange market. The report details an average daily turnover of $3,850 billion, reflecting a 5% quarterly decline and a 20% year-on-year increase, with FX spot declining while swaps rose by 18%. USD/EUR retained its position as the most traded currency pair at 23% of total turnover, and the survey's price-setting dealer reporting basis enables more frequent market monitoring than the BIS Triennial Survey.
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