Circular Letter ST.25-0027 — Global Foreign Exchange and Derivatives Market Survey by the Bank for International Settlements - April 2025

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BANQUE CENTRALE DU LUXEMBOURG
EUROSYSTEM

Ref.: ST.25-0027
Circular Letter

Luxembourg, February 28, 2025

To all credit institutions

Subject: Global Foreign Exchange and Derivatives Market Survey by the Bank for International Settlements (BIS) – April 2025

Madam, Sir,

In April 2022, the Bank for International Settlements (BIS) organized the thirteenth triennial internationally coordinated survey of the global foreign exchange and derivatives market. A fourteenth survey is scheduled for April 2025. As with previous surveys, the Central Bank of Luxembourg (BCL) is again participating in this international BIS survey and requests the cooperation of your institution.

The main objective of this survey is to obtain internationally comparable information on the size and structure of the foreign exchange and derivatives markets, as well as activities on these markets. These statistics help improve the transparency of these markets and assist central banks, public authorities, and market participants in better understanding the development of the global financial system.

Therefore, we invite you to report your institution's activity in the foreign exchange and derivatives markets during April 2025, in accordance with the methodological framework defined by the BIS.

2, boulevard Royal • L-2983 Luxembourg • Fax (+352) 4774-4943 • E-mail: reporting.banques@bcl.lu 1 / 5

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BANQUE CENTRALE DU LUXEMBOURG
EUROSYSTEM

The data will be collected by the BCL and transmitted, in aggregated form, to the BIS, which will serve as the secretariat for the compilation and publication of data at the international level and will also analyze it.

The detailed methodology of the survey, as well as the document to be completed by your institution, are available on the BIS website at the following address:

https://www.bis.org/statistics/triennialrep/guidelines_cbanks.htm

It is important to note that the BCL participates only in the survey of foreign exchange and derivatives transactions carried out during April 2025, namely the "Turnover in April 2025" section (left column) and the "FX settlements in April 2025" section (middle column).

The documentation referring to the "Amounts outstanding at end-June 2025" section (right column) is not to be considered, as the BCL does not participate in this part of the BIS survey.

Thus, the documentation available for the "Turnover in April 2025" and "FX settlements in April 2025" sections includes the following:

• Two sets of instructions necessary for compiling the data, "Reporting guidelines".
• Two Excel files for entering the data, "Reporting templates".
• The list of institutions participating in the survey, "List of reporting dealers", which will be available on the website from late March 2025 at the latest.
• A series of general questions and answers, which may prove useful for compiling the data, "Frequently asked questions", available on the website from late March 2025 at the latest.

We therefore ask you to download the two Excel files from the indicated website to enter your data. The data thus entered must be returned to the BCL via SOFIE or E-FILE (please refer to the annex for the data transmission format). We ask you to return the duly completed files to us by May 30, 2025 at the latest, or to inform us by letter if your institution has no transactions to report.

2, boulevard Royal • L-2983 Luxembourg • Fax (+352) 4774-4943 • E-mail: reporting.banques@bcl.lu 2 / 5

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BANQUE CENTRALE DU LUXEMBOURG
EUROSYSTEM

If you have any questions for which no information is available on the BIS website, we invite you to contact the BCL by sending an email to reporting.banques@bcl.lu.

In this context, we wish to inform you that this circular letter is also available in English on the BCL website.

Finally, we ask you to indicate the name and contact details of the person responsible for compiling the data in your institution. To this end, we ask you to transmit this information by email to reporting.banques@bcl.lu.

We thank you in advance for your kind cooperation and assure you, Madam, Sir, of our highest consideration.

BANQUE CENTRALE DU LUXEMBOURG

[Signature]
Xavier Hornick
Section Head
Banks

[Signature]
Roland Nockels
Head of Department
Statistics

Annex: 1
*
Communication with the BCL via Sofie or E-file

2, boulevard Royal • L-2983 Luxembourg • Fax (+352) 4774-4943 • E-mail: reporting.banques@bcl.lu 3 / 5

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BANQUE CENTRALE DU LUXEMBOURG
EUROSYSTEM

Annex – Communication with the BCL via Sofie or E-file

The document to be completed by your institution is available on the BIS website at the following address:

https://www.bis.org/statistics/triennialrep/guidelines_cbanks.htm

Your responses to the survey must be encrypted and communicated to the BCL via the usual transmission channels, SOFIE or E-FILE.

"Turnover in April 2025" section:

The name of the Excel file format relating to the "Turnover in April 2025" section must be as follows:

OTXREP-Bnnnn-BISTRI-TO-YYYY-MM-JJ-vv.xls

When sending your file, please follow the indications below:
1/ "nnnn" must be replaced by the identification number of your institution (nosig).
2/ "YYYY" must be replaced by the current year (4 digits).
3/ "MM" must be replaced by the month of sending your Excel file (2 digits).
4/ "JJ" must be replaced by the day of sending your Excel file (2 digits).
5/ "vv" must be replaced by the version number of your Excel file (2 digits).

For example, if bank 0001 sends its Excel file for the "Turnover in April 2025" section on May 30, 2025 (first version), the file must be named as follows:

OTXREP-B0001-BISTRI-TO-2025-05-30-01.xls

2, boulevard Royal • L-2983 Luxembourg • Fax (+352) 4774-4943 • E-mail: reporting.banques@bcl.lu 4 / 5

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BANQUE CENTRALE DU LUXEMBOURG
EUROSYSTEM

"FX settlements in April 2025" section:

The name of the Excel file format relating to the "FX settlements in April 2025" section must be as follows:

OTXREP-Bnnnn-BISTRI-FX-YYYY-MM-JJ-vv.xls

When sending your file, please follow the indications below:
1/ "nnnn" must be replaced by the identification number of your institution (nosig).
2/ "YYYY" must be replaced by the current year (4 digits).
3/ "MM" must be replaced by the month of sending your Excel file (2 digits).
4/ "JJ" must be replaced by the day of sending your Excel file (2 digits).
5/ "vv" must be replaced by the version number of your Excel file (2 digits).

For example, if bank 0001 sends its Excel file for the "FX settlements in April 2025" section on May 30, 2025 (first version), the file must be named as follows:

OTXREP-B0001-BISTRI-FX-2025-05-30-01.xls

If you have any questions, we invite you to contact the BCL by sending an email to reporting.banques@bcl.lu.

2, boulevard Royal • L-2983 Luxembourg • Fax (+352) 4774-4943 • E-mail: reporting.banques@bcl.lu 5 / 5