Euromoney collected data for its 2007 FX survey by polling named individuals at industrial and commercial corporations, financial institutions, institutional investors and state agencies.
We received 8,337 valid replies, an increase of 32% over last year’s figure of valid replies received. The poll was conducted for 7.5 calendar weeks from Tuesday, January 16th until Friday, March 9th 2007.
Overall ranking by market share: based on the total volume of FX business placed annually with each bank. To obtain this figure, we asked respondents to estimate the proportion of their total annual FX dealings placed with their 10 top counterparties.
Total business placed with each service provider across all questionnaires received was then divided by total business on all questionnaires – 124trn US dollars (up 46% on the 2006 sample size of 85trn US dollars) – to arrive at a market share figure.
Other results were compiled on a scale of 4:3:2 for first, second and third place respectively. They are NOT weighted according to volume.
| Most innovative and original research and strategy | |||
| 2007 | 2006 | Bank | Score |
| 1 | Deutsche Bank | 5,034 | |
| 2 | Citi | 4,072 | |
| 3 | HSBC | 3,390 | |
| 4 | UBS | 3,126 | |
| 5 | Barclays Capital | 2,233 | |
| 6 | JPMorgan | 1,383 | |
| 7 | Goldman Sachs | 1,359 | |
| 8 | RBS | 1,333 | |
| 9 | BNP Paribas | 902 | |
| 10 | Bank of America | 863 | |
| Short-term G10 research and strategy (three months or less) | |||
| 2007 | 2006 | Bank | Score |
| 1 | Deutsche Bank | 3,862 | |
| 2 | Citi | 2,964 | |
| 3 | UBS | 2,492 | |
| 4 | HSBC | 2,406 | |
| 5 | Barclays Capital | 1,719 | |
| 6 | JPMorgan | 1,042 | |
| 7 | RBS | 1,038 | |
| 8 | Goldman Sachs | 1,011 | |
| 9 | Bank of America | 738 | |
| 10 | BNP Paribas | 693 | |
| Long-term G10 research and strategy (over three months) | |||
| 2007 | 2006 | Bank | Score |
| 1 | Deutsche Bank | 3,375 | |
| 2 | Citi | 2,456 | |
| 3 | HSBC | 2,063 | |
| 4 | UBS | 1,958 | |
| 5 | Barclays Capital | 1,289 | |
| 6 | Goldman Sachs | 1,006 | |
| 7 | JPMorgan | 990 | |
| 8 | RBS | 714 | |
| 9 | Bank of America | 630 | |
| 10 | Morgan Stanley | 624 | |
| Options and volatility | |||
| 2007 | 2006 | Bank | Score |
| 1 | 2 | Deutsche Bank | 3,316 |
| 2 | 1 | UBS | 2,232 |
| 3 | 3 | Citi | 2,228 |
| 4 | 4 | HSBC | 1,878 |
| 5 | 7 | Barclays Capital | 1,313 |
| 6 | 5 | RBS | 913 |
| 7 | 8 | Goldman Sachs | 846 |
| 8 | 6 | JPMorgan | 720 |
| 9 | 10 | Bank of America | 556 |
| 10 | 13 | BNP Paribas | 447 |
| Emerging markets research and strategy | |||
| 2007 | 2006 | Bank | Score |
| 1 | Deutsche Bank | 2,361 | |
| 2 | Citi | 2,083 | |
| 3 | HSBC | 1,825 | |
| 4 | UBS | 1,145 | |
| 5 | JPMorgan | 840 | |
| 6 | Barclays Capital | 741 | |
| 7 | Standard Chartered | 651 | |
| 8 | Goldman Sachs | 564 | |
| 9 | ABN Amro | 561 | |
| 10 | RBS | 470 | |
| Tailor-made research | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Deutsche Bank | 1,489 |
| 2 | 2 | Citi | 1,011 |
| 3 | 3 | HSBC | 850 |
| 4 | 4 | UBS | 729 |
| 5 | 5 | Barclays Capital | 437 |
| 6 | 9 | Goldman Sachs | 324 |
| 7 | 8 | JPMorgan | 323 |
| 8 | 6 | Bank of America | 254 |
| 9 | 10 | RBS | 236 |
| 10 | 13 | BNP Paribas | 208 |
| Behavioural and technical analysis | |||
| 2007 | 2006 | Bank | Score |
| 1 | Citi | 2,229 | |
| 2 | Deutsche Bank | 1,995 | |
| 3 | UBS | 1,318 | |
| 4 | HSBC | 961 | |
| 5 | Barclays Capital | 856 | |
| 6 | JPMorgan | 586 | |
| 7 | RBS | 449 | |
| 8 | ABN Amro | 388 | |
| 9 | Morgan Stanley | 360 | |
| 10 | BNP Paribas | 338 | |
| Research and strategy Flow analysis | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Citi | 1,538 |
| 2 | 2 | Deutsche Bank | 1,396 |
| 3 | 3 | UBS | 1,087 |
| 4 | 4 | HSBC | 890 |
| 5 | 7 | Barclays Capital | 553 |
| 6 | 9 | RBS | 406 |
| 7 | 5 | JPMorgan | 402 |
| 8 | 6 | Goldman Sachs | 396 |
| 9 | 12 | State Street | 376 |
| 10 | 11 | Bank of America | 250 |
