FX Markets

Treasury Messaging Down Sharply As FX Declines


LA HULPE--The Society for World Interbank Financial Transactions (Swift) reports that the decline of the foreign exchange market led to a 17 per cent fall in treasury message volume last year.

Swift is a bank-owned organisation that operates a global network primarily for payments messages.

The decline in FX trading was attributed by a Swift spokesperson to the launch of the euro. While agreeing with this, a source at the treasury of a major European manufacturer told FX Week:

"The euro is

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