| Van den Heule: Barclays Capital hopes technology developed in house will win new business |
If the future of foreign exchange trading is electronic, then things look rosy for Deutsche Bank and UBS. But other large banks are redoubling their efforts to compete with the big two. According to Euromoney’s latest foreign exchange survey [see Euromoney May 2005, FX Poll], these two banks account for more than 60% of electronic trading through their single-bank proprietary platforms.
It is no coincidence that Deutsche and UBS also ranked first and second respectively for overall market share, and their dominance in the single-bank space remains an ominous challenge for any other FX player wishing to close the gap.
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