May 2001
FX poll 2001: Forex transformed by mergers
In foreign exchange it's a truism that size matters. Niche players are being squeezed out of the market because they can't compete with the big banks on price, and even the heavyweights are swallowing each other up in a bid to become the most powerful institution. For now, there's one clear leader.
Citigroup has re-emerged in this year's eagerly awaited annual foreign exchange poll as the top dog. Last year, Deutsche Bank moved ahead of it, ending 20 years of dominance. Citibank had won the overall Euromoney poll each year since its inception in 1979 through to 1999. After the setback of 2000, Citigroup hit back with a vengeance. The 2001 poll comprises 71 separate categories: Citigroup is top in 48 of them, nearly 70%. But in the key poll its market-share lead over second place Deutsche Bank is slender. The rise of electronic marketplaces and recent and future bank mergers may alter the structure of the foreign exchange market.
Look down the list of top foreign exchange institutions over...
More information on foreign exchange
The rest of this article is only available to subscribers
If you are already a subscriber please log in now to view this article, by entering your username (email address) and password at the top right-hand side of this page.
If you are not a subscriber just subscribe today for full access to this article. You can do this either by clicking the link or calling +44 (0)207 779 8999.
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:
- 12 months access in print and online - on 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 1996
- 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