FX poll 2004: UBS and Deutsche race clear of the field

Between them, UBS and Deutsche Bank now handle almost a quarter of all client trading volumes in foreign exchange. Their global dominance reflects crucial changes in clients' behaviour. Other banks that have been slow to emulate their strategies are suffering.

FX poll results Methodology

SO IT WASN’T a blip. When UBS scored a rare victory over Citigroup to be recognized in our poll last year as the bank with the largest market share in foreign exchange, some rivals sought to convince themselves it was a statistical error. This year, though, not only has UBS won the top spot again; it has also increased its market share. What is more, Citigroup has been shoved squarely into third place in the market share rankings by Deutsche Bank.

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