FX settlement risk grows again in latest triennial survey

BIS also finds falling market share on primary venues and more internationalisation of emerging currencies

FX settlement risk continues to grow, says BIS

Settlement risk in foreign exchange transactions has increased by more than 15% since 2019, according to new research from the Bank for International Settlements, with $2.2 trillion of daily FX turnover not subject to any risk mitigation.

New studies from the BIS also show a further decline in market share on primary spot venues, increasing internationalisation of emerging market currencies and a rise in “unseen” FX swap dollar notionals.

Settlement risk has been in the crosshairs of

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