According to the rating of the largest foreign exchange markets in relation to East Asia, a new leader – Singapore, who successfully went around the last leader – Japan, has appeared, so Bloomberg analysts report. Analysts found that the volume of trade in the Singapore markets, over the past three years, has increased significantly and amounts to 383 billion. a day, and there was 266 billion., which is an increase by more than 44%. According to Bloomberg, in comparison with other world trading floors, the site in Singapore is second only to the United States and Great Britain. This is because the significance of Asian currencies has grown significantly, and the territorial location (time zone) is very convenient for bidding.
Currency trade indicators for 2017 have increased significantly, when compared with the indicators for 2016, growth amounted to 33% or $ 5.3 trillion./day. But the trade of some currencies, on the contrary, decreased, for example, this happened to the Japanese yen.
According to experts, the leader in the share of the world currency market is the UK – 41%, the share of the United States is 19%. The largest exchanges in the Asian region Hong Kong, Tokyo, Singapore, give together 19% of global trade. In the ten most traded currencies in the world currency market, a Chinese yuan entered, which is currently not freely convertible. In terms of trade, three years ago, he took only 17th place. Singapore dollar now takes 15th place. In addition to all of the above, it can be recalled that in 2016, in February, the Singapore Exchange expressed its desire to buy the Australian ASX Exchange Operator, the cost of the planned purchase was $ 8.7 billion., which exceeded the annual income from the exchange by 20 times. By the way, this proposal was better than a similar sentence, which was made by the Toronto exchange from the London Exchange, more than double. But in April 2016, this proposal was officially rejected by the Minister of Finance of Australia Wayne Swan, and the Australian Exchange (ASX) and Singapore (SGX) did not take place.The Minister motivated his decision by the fact that Australia would lose all control over the transactions in the local market, and this does not correspond to the development strategy of the financial center in Australia. The amount that was proposed for this ($ 8.7 billion.) did not correspond to the level of risks that Australia subjected herself to.