Since 1989, global foreign exchange turnover (and settlements) has more than tripled, to just over $2 trillion per day. This article expands upon a January 2005 Chicago Fed Letter that described broad clearing and settlement principles, and focuses more specifically on foreign exchange settlement practices, past and present.
On This PageFebruary 2006, No. 223
Foreign Exchange Trading and Settlement: Past and Present
Last Updated: 01/17/06