The Australian Foreign Exchange Committee published its half-yearly report on foreign exchange turnover yesterday, showing a continued lift in activity.The AFXC is a representative forum of the Australian foreign exchange market, operating under the sponsorship of the Reserve Bank of Australia. Its report is compiled from data supplied by 24 financial institutions active in the Australian foreign exchange market and is drawn from the Reserve Bank of Australia's quarterly turnover survey. The main findings of the report were: Total average daily turnover in all OTC foreign exchange instruments in the Australian market was US$134.8 billion in April 2016, an increase of six per cent from October 2015, and an increase of three per cent over the year; Average daily turnover in traditional OTC foreign exchange instruments (spot, outright forwards and foreign exchange swaps) in the Australian market was US$130.4 billion in April 2016, an increase of six per cent from October 2015, and an increase of three per cent over the year; and Average daily turnover in OTC options and cross-currency interest rate swaps (currency swaps) in the Australian market was US$4.3 billion in April 2016, an increase of four per cent from October 2015, and an increase of seven per cent over the year. In this report, turnover is defined as: "the gross value of all new deals entered into during the month (regardless of whether or not settlement was made during the period) and is reported in terms of the nominal or notional amount of the contracts." Similar semi-annual foreign exchange turnover surveys are conducted for a number of foreign exchange markets.