{"id":"https://openalex.org/W1762637017","doi":null,"title":"The anatomy of the global FX market through the lens of the 2013 Triennial Survey","display_name":"The anatomy of the global FX market through the lens of the 2013 Triennial Survey","publication_year":2013,"publication_date":"2013-01-01","ids":{"openalex":"https://openalex.org/W1762637017","mag":"1762637017"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:bis:bisqtr:1312e","doi":null,"is_oa":false,"landing_page_url":"http://www.bis.org/publ/qtrpdf/r_qt1312e.pdf","pdf_url":"http://www.bis.org/publ/qtrpdf/r_qt1312e.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://ddd.bis.org/publ/qtrpdf/r_qt1312e.htm","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5078007533","display_name":"Dagfinn Rime","orcid":"https://orcid.org/0000-0003-0759-2910","observed_orcids":["https://orcid.org/0000-0003-0759-2910"]},"institutions":[{"id":"https://openalex.org/I181046868","display_name":"BI Norwegian Business School","ror":"https://ror.org/03ez40v33","country_code":"NO","type":"education","lineage":["https://openalex.org/I181046868"]}],"countries":["NO"],"is_corresponding":false,"raw_author_name":"Dagfinn Rime","raw_affiliation_strings":["[BI Norwegian Business School]"],"raw_orcid":"https://orcid.org/0000-0003-0759-2910","affiliations":[{"raw_affiliation_string":"[BI Norwegian Business School]","institution_ids":["https://openalex.org/I181046868"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5102736184","display_name":"Andreas Schrimpf","orcid":"https://orcid.org/0000-0003-2471-8386","observed_orcids":["https://orcid.org/0000-0003-2471-8386"]},"institutions":[{"id":"https://openalex.org/I52989892","display_name":"Bank for International Settlements","ror":"https://ror.org/00d062t77","country_code":"CH","type":"other","lineage":["https://openalex.org/I52989892"]}],"countries":["CH"],"is_corresponding":false,"raw_author_name":"Andreas Schrimpf","raw_affiliation_strings":["Bank for International Settlements (BIS) - Monetary and Economic Department"],"raw_orcid":"https://orcid.org/0000-0003-2471-8386","affiliations":[{"raw_affiliation_string":"Bank for International Settlements (BIS) - Monetary and Economic Department","institution_ids":["https://openalex.org/I52989892"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":8.1632,"has_fulltext":false,"cited_by_count":39,"citation_normalized_percentile":{"value":0.97039708,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.2849000096321106,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.2849000096321106,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.23330000042915344,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14317","display_name":"Finance, Markets, and Regulation","score":0.19460000097751617,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/foreign-exchange-market","display_name":"foreign exchange market","score":0.9879999756813049},{"id":"https://openalex.org/keywords/hedge-funds","display_name":"hedge funds","score":0.7070000171661377},{"id":"https://openalex.org/keywords/institutional-investors","display_name":"institutional investors","score":0.9549999833106995},{"id":"https://openalex.org/keywords/search-costs","display_name":"search costs","score":0.8090000152587891},{"id":"https://openalex.org/keywords/market-structure","display_name":"market structure","score":0.4320000112056732}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6751163005828857},{"id":"https://openalex.org/C2779312582","wikidata":"https://www.wikidata.org/wiki/Q1783272","display_name":"Counterparty","level":3,"score":0.6499514579772949},{"id":"https://openalex.org/C204434749","wikidata":"https://www.wikidata.org/wiki/Q105611","display_name":"Hedge fund","level":2,"score":0.5633188486099243},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.43183690309524536},{"id":"https://openalex.org/C70771513","wikidata":"https://www.wikidata.org/wiki/Q235779","display_name":"Hedge","level":2,"score":0.4315437078475952},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3744330108165741},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.32567721605300903},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2088538408279419},{"id":"https://openalex.org/C178350159","wikidata":"https://www.wikidata.org/wiki/Q162714","display_name":"Credit risk","level":2,"score":0.1789567470550537},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:RePEc:bis:bisqtr:1312e","doi":null,"is_oa":false,"landing_page_url":"http://www.bis.org/publ/qtrpdf/r_qt1312e.pdf","pdf_url":"http://www.bis.org/publ/qtrpdf/r_qt1312e.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"mag:1762637017","doi":null,"is_oa":true,"landing_page_url":"https://ddd.bis.org/publ/qtrpdf/r_qt1312e.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3124908771","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:bis:bisqtr:1312e","pdf_url":null,"source":{"id":"https://openalex.org/S4306504463","display_name":"BIS quarterly review","issn_l":"1683-0121","issn":["1683-0121"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"BIS quarterly review","raw_type":null}],"best_oa_location":{"id":"mag:1762637017","doi":null,"is_oa":true,"landing_page_url":"https://ddd.bis.org/publ/qtrpdf/r_qt1312e.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":9,"referenced_works":["https://openalex.org/W179603364","https://openalex.org/W1577035305","https://openalex.org/W1793754220","https://openalex.org/W2117429303","https://openalex.org/W2142956140","https://openalex.org/W2151566455","https://openalex.org/W2278408066","https://openalex.org/W3121764759","https://openalex.org/W3121973777"],"related_works":["https://openalex.org/W179603364","https://openalex.org/W2992339308","https://openalex.org/W2994493727","https://openalex.org/W2577315572","https://openalex.org/W7112155572","https://openalex.org/W2751896092","https://openalex.org/W4368221874","https://openalex.org/W1577035305","https://openalex.org/W2625185200","https://openalex.org/W3125403684"],"abstract_inverted_index":{"Trading":[0],"in":[1,14],"the":[2,37,59],"FX":[3],"market":[4],"reached":[5],"an":[6,81],"all-time":[7],"high":[8],"of":[9,61,70],"$5.3":[10],"trillion":[11],"per":[12],"day":[13],"April":[15],"2013,":[16],"a":[17],"35%":[18],"increase":[19],"relative":[20],"to":[21],"2010.":[22],"Non-dealer":[23],"financial":[24],"institutions,":[25],"including":[26],"smaller":[27],"banks,":[28],"institutional":[29],"investors":[30],"and":[31,39,50],"hedge":[32],"funds,":[33],"have":[34],"grown":[35],"into":[36],"largest":[38],"most":[40],"active":[41],"counterparty":[42],"segment.":[43],"The":[44],"once":[45],"clear-cut":[46],"divide":[47],"between":[48],"inter-dealer":[49],"customer":[51],"trading":[52,73],"is":[53],"gone.":[54],"Technological":[55],"change":[56],"has":[57,74],"increased":[58],"connectivity":[60],"participants,":[62],"bringing":[63],"down":[64],"search":[65],"costs.":[66],"A":[67],"new":[68],"form":[69],"\"hot":[71],"potato\"":[72],"emerged":[75],"where":[76],"dealers":[77],"no":[78],"longer":[79],"play":[80],"exclusive":[82],"role.":[83]},"counts_by_year":[{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":5},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":6},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}