May 2005
FX Poll 2005: The big get bigger - but is it for the best?
by Deborah Kimbell, David Skalinder, Andrew Newby
Deutsche Bank is the big winner in Euromoney's 2005 FX survey, which has a significantly larger sample size of $40 trillion this year. It not only outstripped UBS but increased its market share to more than 16%.
| |
Gulliver: the name of the
game in foreign exchange is
to be one of the consolidators |
SOARING FOREIGN EXCHANGE trading volumes are being handled by ever fewer players. The barriers to entry for full-scale FX providers are getting higher, resulting in widening gaps in market share. Euromoney's 2005 foreign exchange survey has confirmed that this trend is showing no signs of abating. Volume and market share are crucial for banks that want to make big profits in a market with highly compressed spreads.
"The name of the game in foreign exchange is to be one of the consolidators, which is arguably the top five or six," says Stuart Gulliver, co-head of corporate and investment banking at HSBC. "The market is tiering itself, so that a smaller number of banks are doing more volumes."
Access to this content is for level 2 subscribers. You do not currently have access to this content, to gain access subscribe or call our hotline on +44 (0)207 779 8999.
If you are a level 2 subscriber but have yet to sign in to the site, please log in now to view this content.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe