Forex market growing, but more risky – BIS review

Settlement risk: BIS quarterly review authors recommend expanding CLS to include more EM currencies

While foreign exchange volumes have resumed their long-term growth and soared to a record high in 2019, the market has become more complex and fragmented, and more exposed to settlement risk since the creation of CLS, contributors to the Bank for International Settlements’ (BIS) latest quarterly review say.

Between 2016 and 2019, emerging market (EM) currencies grew nearly twice as fast as their G10 counterparts and now represent 23% of global forex turnover, versus 19% in 2016. But many of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account