Spot trades strengthen dominance of FX market

The amounts traded in spot foreign exchange markets have shot up, central bank research reveals.

A survey carried out by central bank-supported committees in Britain, the United States, Singapore and Canada recording foreign-exchange trading volumes in October 2007 showed a sharp increase in spot trades - by far the most popular method of foreign exchange transaction - in all four countries.

In the United States the daily turnover of spot transactions rose by 50.3% from $123 billion in Octobe