Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Foreign Exchange Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The foreign exchange market size is expected to see strong growth in the next few years. It will grow to $1023.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be linked to political and geopolitical developments, fluctuations in commodity prices and resource exports, recovery from the pandemic and changes in risk appetite, inflationary pressures, and dynamics in emerging markets. Notable trends expected during the forecast period encompass the increase in retail forex trading, the implementation of advanced risk management strategies, the impact of global economic recovery, a heightened focus on ESG (environmental, social, governance), and increased investments in technological infrastructure.
Major companies in the foreign exchange market are introducing new products, such as next-generation foreign exchange platforms, as a strategic move to enhance their competitive advantage. A foreign exchange platform is a digital software application or online system designed to facilitate currency trading in the foreign exchange market. Illustratively, in October 2023, The BNY Mellon Corporation, a financial services company based in the United States, launched Universal FX. This platform significantly improves the foreign exchange experience for clients worldwide by providing access to both developed and emerging market currency execution. Universal FX enables customers to manage their entire portfolio, whether involving transaction settlements, custody, or prime brokerage. Serving a diverse range of businesses, including investment managers, corporates, hedge funds, and wealth managers, the platform builds upon the OneFX suite of products and banking capabilities, catering to all FX trading, hedging, and cross-border payment activities.
A selection of companies mentioned in this report includes
- JPMorgan Chase and Co.
- Citibank N. A.
- HSBC Holdings plc
- BNP Paribas Societe Anonyme
- The Goldman Sachs Group Inc.
- UBS Group AG
- Deutsche Bank AG
- The Bank of Nova Scotia
- Barclays plc
- State Bank Of India
- Standard Chartered plc
- State Street Corporation
- Royal Bank of Scotland plc
- Commonwealth Bank of Australia
- Interactive Brokers Group LLC
- eToro Group Limited
- Saxo Bank A/S
- Swissquote Group Holding SA
- CMC Markets plc
- GAIN Capital Holdings Inc.
- IG Group Holdings plc
- AvaTrade Ltd.
- City Index Limited
- OANDA Corporation
- Alpari UK Limited
- Admiral Markets Ltd.
- Pepperstone Group Limited
- Dukascopy Bank SA
- Octa Markets Incorporated
- FxPro UK Limited
For more information about this report visit https://www.researchandmarkets.com/r/r8278o
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