FX survey 2013: Results index

Overall market share
Spot/Forward market share
Swap market share
Options market share
Most improved by volume

Market share by institution type

Non-financial corporations
Real money
Banks
Leveraged funds

Most improved volume by institution type

Non-financial corporations
Real money
Banks
Leveraged funds
Most improved by volume

Market share by region

Western Europe
North America
Asia
Middle East
Central and Eastern Europe
Latin America
Australasia
Africa

Qualitative rankings – Currency

Asian currencies
East European currencies
Latin American currencies
Middle Eastern currencies
Nordic and Baltic currencies
African currencies

Qualitative rankings – Client service

American timezone
European timezone
Asian timezone

Qualitative rankings – Research

Research – G10
Research – Emerging markets
Quantitative research
Flow research
Technical analysis

Qualitative rankings – Products

Vanilla options/1st Generation exotics – Pricing
Emerging market options – Pricing
Structured options/FX-linked products – Pricing

Qualitative rankings – Trading

Currencies G10 Trading – Spot/Forward – Pricing
Currencies Emerging market Trading – Spot/Forward – Pricing

E-trading – Overall

Overall E-trading Market Share

E-Trading qualitative rankings

Algorithmic execution capabilities
Consistent pricing: G-10 Spot/Forward
Consistent pricing: Emerging market-Spot/Forward
Options capabilities
Order book depth transparency
Research & analytical tools
Effective risk management tools

Multi-bank and Independent Platform Market Share

Most improved market share
Qualitative Rankings:
Speed of execution
Variety of dealers
Integrated Workflow Solutions
Cost of Dealing
Risk Management & Compliance
Reporting & Analytics
Spread Competitiveness

Related coverage

Deutsche clings on despite Citi’s resurgence
For all the fragmentation in the FX market, the top four banks further consolidated their dominance of customer business, according to the 2013 Euromoney foreign exchange survey. As volumes rise again in FX, volatility returns and banks’ earnings from it recover, margins are still compressing. Customers are focused on cutting transaction costs. Banks face big demands on scarce IT resources.

New FX technology resolves phantom liquidity
Fragmentation and phantom liquidity bedevil the foreign exchange market with its proliferation of trading venues. Investors and corporates want to see the true depth of the market and what amounts they can really trade at the enticing prices being flashed at them. In a low-return world, these end-users are getting rigorous on trading cost analysis. Banks are developing new technology to respond.

FX market share not as fixed as it first appears
34 years of the FX survey: the key market share trends

Regulation might curb FX options

Why 2013 is proving a bumper year for the FX market

ParFX: a level playing field at last for forex?

An unhealthy concentration in FX

Press release

Methodology

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