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.
| €/$ | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Deutsche Bank | 4,868 |
| 2 | 2 | Citi | 3,610 |
| 3 | 3 | HSBC | 3,449 |
| 4 | 4 | UBS | 3,442 |
| 5 | 5 | Barclays Capital | 2,408 |
| 6 | 6 | RBS | 1,333 |
| 7 | 7 | ABN Amro | 876 |
| 8 | 9 | Bank of America | 862 |
| 9 | 11 | BNP Paribas | 855 |
| 10 | 8 | JPMorgan | 829 |
| €/¥ | |||
| 2007 | 2006 | Bank | Score |
| 1 | 2 | Deutsche Bank | 2,225 |
| 2 | 1 | UBS | 2,219 |
| 3 | 3 | Citi | 1,841 |
| 4 | 4 | HSBC | 1,319 |
| 5 | 5 | Barclays Capital | 1,242 |
| 6 | 6 | RBS | 699 |
| 7 | 7 | JPMorgan | 498 |
| 8 | 8 | Goldman Sachs | 460 |
| 9 | 10 | Bank of America | 412 |
| 10 | 12 | BNP Paribas | 382 |
| Top ranked Japanese banks | |||
| 13 | 14 | Mitsubishi UFJ Financial Group | 311 |
| 20 | 21 | Mizuho Financial Group | 171 |
| 29 | 24 | Sumitomo Mitsui Banking Corp | 91 |
| €/£ | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Deutsche Bank | 2,292 |
| 2 | 4 | Barclays Capital | 2,272 |
| 3 | 3 | UBS | 2,071 |
| 4 | 2 | HSBC | 1,816 |
| 5 | 5 | Citi | 1,669 |
| 6 | 6 | RBS | 1,469 |
| 7 | 7 | ABN Amro | 473 |
| 8 | 11 | BNP Paribas | 436 |
| 9 | 9 | Bank of America | 431 |
| 10 | 8 | JPMorgan | 406 |
| $/¥ | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Citi | 2,729 |
| 2 | 3 | Deutsche Bank | 2,595 |
| 3 | 2 | UBS | 2,593 |
| 4 | 4 | HSBC | 2,239 |
| 5 | 5 | Barclays Capital | 1,528 |
| 6 | 7 | RBS | 869 |
| 7 | 6 | JPMorgan | 797 |
| 8 | 8 | Bank of America | 769 |
| 9 | 9 | Goldman Sachs | 596 |
| 10 | 11 | Mitsubishi UFJ Financial Group | 567 |
| Top ranked Japanese banks | |||
| 10 | 11 | Mitsubishi UFJ Financial Group | 567 |
| 19 | 15 | Mizuho Financial Group | 274 |
| 23 | 23 | Sumitomo Mitsui Banking Corp | 175 |
| $/£ | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | HSBC | 2,883 |
| 2 | 4 | Barclays Capital | 2,780 |
| 3 | 3 | Citi | 2,456 |
| 4 | 2 | UBS | 2,330 |
| 5 | 5 | Deutsche Bank | 2,320 |
| 6 | 6 | RBS | 1,665 |
| 7 | 7 | Bank of America | 687 |
| 8 | 8 | JPMorgan | 585 |
| 9 | 10 | ABN Amro | 522 |
| 10 | 13 | BNP Paribas | 503 |
| Asian currencies | |||
| 2007 | 2006 | Bank | Score |
| 1 | HSBC | 2,595 | |
| 2 | Deutsche Bank | 1,899 | |
| 3 | Citi | 1,756 | |
| Best local bank: | Mitsubishi UFJ Financial Group | ||
| East European currencies | |||
| 2007 | 2006 | Bank | Score |
| 1 | Deutsche Bank | 1,618 | |
| 2 | Citi | 1,197 | |
| 3 | UBS | 904 | |
| Best local bank: | RZB | ||
| Latin American currencies | |||
| 2007 | 2006 | Bank | Score |
| 1 | Citi | 1,224 | |
| 2 | Deutsche Bank | 818 | |
| 3 | HSBC | 574 | |
| Best local bank: | BBVA | ||
| Middle Eastern currencies | |||
| 2007 | 2006 | Bank | Score |
| 1 | HSBC | 685 | |
| 2 | Citi | 612 | |
| 3 | Deutsche Bank | 528 | |
| Best local bank: | Bank Hapoalim | ||
| Nordic and Baltic currencies | |||
| 2007 | 2006 | Bank | Score |
| 1 | Deutsche Bank | 871 | |
| 2 | UBS | 839 | |
| 3 | Citi | 795 | |
| Best local bank: | Danske Bank | ||
| Australian dollar | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Citi | 1,463 |
| 2 | 3 | Deutsche Bank | 1,345 |
| 3 | 2 | UBS | 1,322 |
| Best local bank: | Westpac Banking Corporation | ||
| Canadian dollar | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | RBC Capital Markets | 1,663 |
| 2 | 2 | Citi | 1,357 |
| 3 | 3 | UBS | 1,156 |
| Chinese yuan | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | HSBC | 950 |
| 2 | 3 | Deutsche Bank | 524 |
| 3 | 2 | Citi | 516 |
| Best local bank: | Agricultural Bank of China | ||
| Hong Kong dollar | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | HSBC | 1,763 |
| 2 | 2 | Citi | 768 |
| 3 | 3 | UBS | 664 |
| Mexican peso | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | Citi | 809 |
| 2 | 2 | Deutsche Bank | 475 |
| 3 | 5 | UBS | 434 |
| Russian rouble | |||
| 2007 | 2006 | Bank | Score |
| 1 | 2 | Deutsche Bank | 419 |
| 2 | 1 | Citi | 415 |
| 3 | 3 | HSBC | 218 |
| Best local bank: | Promsvyazbank | ||
| South African rand | |||
| 2007 | 2006 | Bank | Score |
| 1 | 1 | UBS | 655 |
| 2 | 2 | Citi | 627 |
| 3 | 6 | Barclays Capital | 545 |
| Best local bank: | Rand Merchant Bank | ||
