According to the BIS Triennial Central Bank Survey for 2019, global trading in FX markets reached $ trillion per day in April 2019, up from $ trillion three years earlier.1 The growth of FX derivatives trading, FX swaps in particular, outpaced that in spot markets.
To satisfactorily deal with these risks as well as to win amid the severe competition that is to come, it is necessary that risks should be measured in an accurate way and appropriate capital charges set accordingly.