Client trading volumes rising

The average volume of FX trading transacted by 716 of the largest global clients was $28.2 billion in 2002 -- up 6% from $26.6 billion the year before, the firm said last week, quantifying for the first time the increasing importance of client business in FX.

The last time figures were published by the Bank for International Settlements (BIS), for 2001, daily average turnover in non-interbank FX was $485 billion -- down 7% from $521 billion in the previous reporting period, in 1998.