Further rapid growth in foreign exchange trading

The volumes of foreign exchange traded has grown by 65% over the last three years, the preliminary results of the Bank for International Settlement's (BIS) triennial survey reveal, with global daily turnover averaging $3.2 trillion in April 2007.

BIS said growth in the use of prime brokerages, and more trading by hedge funds and retail investors, led to the acceleration of activity in the market.

Trading between reporting dealers and other financial institutions grew, accounting for 40% of to