There is also perhaps, an interest rate swap (IRS) or overnight index swap (OIS) in OTC market, as there is sometime a quotation in Bloomberg or Reuters. But, it seems not quite regular and the transaction is supposed to be in a very small number. Thus, in general, money market is not yet considered to better serve banks’ portfolio management.
Meanwhile, in the foreign exchange market, the transaction is also still dominated by spot transaction. The daily volume of inter-bank spot transaction is about 1.5 – 2 billion US Dollar in the last two years. In addition, swap transaction is around 300 million US Dollar in 2009, a bit lower compare to around 500 million US Dollar last year.