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Benchmarking

FX Survey 2018: Overall results

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May 30, 2018

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 fx2018
 © 2018 Euromoney
Results Index
More data 
Overall Market Share
2018 2017 Liquidity Provider %Market share
1 2 JPMorgan 12.13%
2 3 UBS 8.25%
3 12 XTX Markets 7.36%
4 4 Bank of America Merrill Lynch 6.20%
5 1 Citi 6.16%
6 6 HSBC 5.58%
7 8 Goldman Sachs 5.53%
8 5 Deutsche Bank 5.41%
9 9 Standard Chartered 4.49%
10 11 State Street 4.37%
11 7 Barclays 4.09%
12 10 BNP Paribas 3.31%
13 – HCTech 3.05%
14 24 Jump Trading 2.38%
15 14 Societe Generale 2.19%
16 15 Morgan Stanley 2.16%
17 19 Commerzbank 1.78%
18 16 Credit Suisse 1.68%
19 13 NatWest 1.48%
20 21 Citadel Securities 1.19%
21 18 Credit Agricole 1.09%
22 17 Nomura 1.08%
23 20 RBC Capital Markets 0.96%
24 27 Westpac Banking Corporation 0.60%
25 25 MUFG Bank 0.57%
26 26 SMBC 0.56%
27 23 Alfa Bank 0.52%
28 32 TD Securities 0.48%
29 35 National Australia Bank 0.47%
30 22 ANZ Banking Group 0.45%
31 45 Bank of New York Mellon 0.41%
32 36 Natixis 0.36%
33 30 Saxo Bank 0.33%
34 41 CIBC 0.23%
35 34 ING Group 0.20%
36 50 BBVA 0.19%
37 39 Virtu Financial 0.19%
38 42 SEB 0.18%
39 55 Scotiabank 0.15%
40 60 Landesbank Baden-Wurttemberg (LBBW) 0.15%
41 40 Bank of Montreal 0.14%
42 48 Santander Group 0.13%
43 – CCM Alpha 0.11%
44 44 UniCredit 0.10%
45 38 Commonwealth Bank of Australia 0.10%
46 46 Danske Bank 0.09%
47 57 Lloyds Banking Group 0.08%
48 43 Zurich Cantonalbank 0.08%
49 54 Raiffeisen Bank International 0.08%
50 28 Mizuho Financial Group 0.08%
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Global Market share by Product
Spot/Forward
2018 2017 Liquidity Provider %Market share
1 1 JPMorgan 13.35%
2 4 XTX Markets 9.55%
3 5 UBS 6.89%
4 3 Bank of America Merrill Lynch 6.77%
5 7 Goldman Sachs 6.03%
6 2 Citi 5.84%
7 6 Deutsche Bank 5.56%
8 8 HSBC 5.23%
9 10 Standard Chartered 4.20%
10 – HCTech 3.96%
11 9 Barclays 3.75%
12 11 State Street 3.36%
13 12 BNP Paribas 3.31%
14 20 Jump Trading 3.08%
15 14 Morgan Stanley 2.25%
16 19 Commerzbank 2.16%
17 15 Credit Suisse 1.76%
18 16 Citadel Securities 1.54%
19 13 NatWest 1.54%
20 18 Nomura 1.36%
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Swaps
2018 2017 Liquidity Provider %Market share
1 3 UBS 12.99%
2 10 State Street 8.06%
3 2 JPMorgan 7.91%
4 1 Citi 7.18%
5 7 HSBC 6.73%
6 13 Societe Generale 5.46%
7 8 Standard Chartered 5.32%
8 6 Barclays 5.30%
9 5 Deutsche Bank 4.79%
10 11 Goldman Sachs 3.78%
11 4 Bank of America Merrill Lynch 3.73%
12 9 BNP Paribas 3.27%
13 15 Credit Agricole 2.65%
14 16 RBC Capital Markets 2.29%
15 36 SMBC 2.05%
16 18 Westpac Banking Corporation 1.90%
17 14 Morgan Stanley 1.77%
18 27 National Australia Bank 1.38%
19 17 Credit Suisse 1.37%
20 12 NatWest 1.28%
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Options
2018 2017 Liquidity Provider %Market share
1 2 Bank of America Merrill Lynch 19.17%
2 5 JPMorgan 10.57%
3 6 Standard Chartered 9.53%
4 4 Citi 8.56%
5 9 UBS 7.82%
6 11 HSBC 7.40%
7 4 Deutsche Bank 7.29%
8 8 Societe Generale 5.40%
9 1 Goldman Sachs 5.23%
10 10 BNP Paribas 4.29%
11 14 Morgan Stanley 4.01%
12 12 Barclays 3.90%
13 17 Credit Suisse 1.81%
14 7 NatWest 1.51%
15 21 Credit Agricole 0.69%
16 13 Nomura 0.46%
17 19 Natixis 0.36%
18 16 MUFG Bank 0.32%
19 24 Zurich Cantonalbank 0.20%
20 38 ANZ Banking Group 0.15%
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Emerging Market currencies
2018 2017 Liquidity Provider %Market share
1 1 Standard Chartered 10.42%
2 2 JPMorgan 9.41%
3 4 XTX Markets 8.88%
4 6 HSBC 7.06%
5 3 Citi 6.73%
6 5 Deutsche Bank 6.48%
7 8 UBS 6.23%
8 7 Bank of America Merrill Lynch 5.23%
9 11 State Street 5.01%
10 10 Goldman Sachs 4.59%
11 9 Barclays 3.39%
12 14 BNP Paribas 3.04%
13 12 Societe Generale 2.84%
14 39 SMBC 2.31%
15 16 Morgan Stanley 2.11%
16 17 Credit Suisse 1.71%
17 18 Credit Agricole 1.14%
18 62 Jump Trading 1.11%
19 24 Nomura 1.11%
20 20 Commerzbank 1.07%
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Tags Benchmarking Deutsche Bank Standard Chartered HSBC Citi JPMorgan Bank of America Merrill Lynch UBS Santander Barclays Goldman Sachs Morgan Stanley Societe Generale Credit Suisse Citigroup Surveys and Awards Surveys Foreign Exchange Survey

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