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.
| Non-financial corporations | |||
| 2007 | 2006 | Bank | Market share |
| 1 | 1 | Citi | 14.25% |
| 2 | 2 | Deutsche Bank | 10.04% |
| 3 | 5 | RBS | 9.47% |
| 4 | 3 | HSBC | 7.15% |
| 5 | 6 | Barclays Capital | 6.23% |
| 6 | 4 | UBS | 5.65% |
| 7 | 7 | Goldman Sachs | 5.19% |
| 8 | 8 | ABN Amro | 4.09% |
| 9 | 9 | Bank of America | 3.94% |
| 10 | 10 | BNP Paribas | 3.33% |
| 11 | 11 | JPMorgan | 2.95% |
| 12 | 13 | SEB | 2.86% |
| 13 | 27 | Mitsubishi UFJ Financial Group | 2.33% |
| 14 | 24 | Société Générale | 1.53% |
| 15 | 25 | Nordea | 1.41% |
| Real money | |||
| 2007 | 2006 | Bank | Market share |
| 1 | 2 | UBS | 13.73% |
| 2 | 3 | Citi | 11.89% |
| 3 | 1 | Deutsche Bank | 10.97% |
| 4 | 11 | RBS | 7.69% |
| 5 | 5 | JPMorgan | 6.73% |
| 6 | 8 | Barclays Capital | 6.35% |
| 7 | 6 | Goldman Sachs | 5.32% |
| 8 | 10 | Morgan Stanley | 4.93% |
| 9 | 7 | State Street | 4.35% |
| 10 | 4 | Merrill Lynch | 3.54% |
| 11 | 9 | HSBC | 3.24% |
| 12 | 13 | Credit Suisse | 2.51% |
| 13 | 17 | Calyon | 2.10% |
| 14 | 12 | Bank of America | 2.07% |
| 15 | 14 | Lehman Brothers | 2.06% |
| Banks | |||
| 2007 | 2006 | Bank | Market share |
| 1 | 1 | UBS | 27.62% |
| 2 | 2 | Deutsche Bank | 18.46% |
| 3 | 4 | RBS | 9.92% |
| 4 | 3 | Citi | 8.27% |
| 5 | 5 | Barclays Capital | 7.31% |
| 6 | 7 | HSBC | 3.26% |
| 7 | 13 | Lehman Brothers | 2.76% |
| 8 | 10 | Goldman Sachs | 2.55% |
| 9 | 8 | JPMorgan | 2.20% |
| 10 | 17 | BNP Paribas | 1.84% |
| 11 | 6 | Bank of America | 1.71% |
| 12 | 9 | Dresdner Kleinwort | 1.36% |
| 13 | 15 | Standard Chartered | 1.18% |
| 14 | 12 | ABN Amro | 1.08% |
| 15 | 11 | Merrill Lynch | 0.79% |
| Leveraged funds | |||
| 2007 | 2006 | Bank | Market share |
| 1 | 1 | Deutsche Bank | 24.08% |
| 2 | 2 | Barclays Capital | 11.70% |
| 3 | 8 | Bank of America | 8.39% |
| 4 | 4 | RBS | 7.92% |
| 5 | 3 | Citi | 6.97% |
| 6 | 7 | UBS | 5.96% |
| 7 | 6 | HSBC | 5.80% |
| 8 | 5 | Goldman Sachs | 5.33% |
| 9 | 11 | Morgan Stanley | 5.31% |
| 10 | 13 | Lehman Brothers | 2.83% |
| 11 | 9 | JPMorgan | 2.70% |
| 12 | 14 | Calyon | 2.13% |
| 13 | 10 | Merrill Lynch | 1.72% |
| 14 | 21 | State Street | 1.67% |
| 15 | 12 | ABN Amro | 1.40% |
