14June

Study: London FX Trading Hub to

Suffer in the Unlikely Case of a Brexit

About two-thirds of the participants believed that the event is most likely to have an unfavorable result on the industry. Only 13 per cent of the 12,000 members of the ACI Financial Markets Association who responded to the survey believed that the mandate vote on the 23rd of June is likely to have no result on the FX business.

Frankfurt snatched the title as potential vital recipient, with 70 per cent of the participants identifying it as such, while Paris and New York followed with 49 and 40 percent respectively. A minority of 28 percent of the participants saw some advantages for Dublin which is the closest monetary center to London within the European Union.

According to data from the Bank of International Settlements (BIS), over 40 percent of forex trading volumes are created in London, with New York in distant second with 19 percent and Singapore, Tokyo and Hong Kong in the mid-single digits.

The CEO of Chatsworth, Nick Murray-Leslie, talked about the findings: The views of the respondents and their analysis on the effect of a Brexit matter a great deal because they manage investment positions and make a daily judgment on currencies, rate of interest and cross-border economic factors affecting international trade and commerce.

The profile of respondents in the survey speaks a great deal about their expertise, since about 30 percent of them have actually been operating in the market for over 20 years. Another 50 per cent have actually been associated with the foreign exchange line of work for between 5 and 20 years.