Questions raised over UK’s FX volume surge

Close up of Bank Of England facade with the statue of Duke of Wellington Statue created by Francis Chantrey City of London England

Senior market participants and industry association officials have expressed surprise at a 23% rise in foreign exchange turnover in the UK that came to light last week, with speculation it could be attributed to a rise in high-frequency trading activity in London.

On July 25, the Bank of England's Foreign Exchange Joint Standing Committee (JSC) reported in its semi-annual turnover survey that average daily reported turnover in the UK had jumped to $2,191 billion in April; 23% higher than in

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