FX Survey 2020: Electronic trading

Overall electronic market share Market Share by product Spot e-trading market share Swap e-trading market share Options e-trading market share

 EuromoneyForeignExchange-2020
© 2020 Euromoney
Results Index
Global – Overall Electronic (exc. short-dated swaps) – all client segments
Rank 2020 Rank 2019 Counterparty Market Share % 2020
1 1 JPMorgan 11.29%
2 2 XTX Markets 9.74%
3 5 UBS 8.18%
4 3 Deutsche Bank 7.74%
5 8 Jump Trading 6.73%
6 7 Citi 4.99%
7 10 HSBC 4.51%
8 6 State Street 4.47%
9 11 Goldman Sachs 4.32%
10 4 HCTech 4.28%
11 12 Citadel Securities 3.90%
12 9 Bank of America 3.66%
13 14 BNP Paribas 3.26%
14 13 Barclays 3.04%
15 16 Morgan Stanley 2.67%
16 20 Credit Suisse 2.15%
17 15 Standard Chartered 2.04%
18 22 Nomura 1.67%
19 21 Commerzbank 1.46%
20 17 NatWest 1.25%
Spot e-trading market share
Rank 2020 Rank 2019 Counterparty Market Share % 2020
1 1 XTX Markets 11.78%
2 3 JPMorgan 11.72%
3 5 Jump Trading 8.15%
4 2 Deutsche Bank 8.04%
5 6 UBS 7.76%
6 4 HCTech 5.18%
7 7 Citadel Securities 4.72%
8 9 Goldman Sachs 4.38%
9 8 Citi 3.97%
10 12 State Street 3.56%
11 10 Bank of America 3.39%
12 11 HSBC 3.12%
13 14 BNP Paribas 2.96%
14 17 Morgan Stanley 2.64%
15 19 Credit Suisse 2.35%
16 13 Barclays 2.31%
17 21 Nomura 2.02%
18 15 Standard Chartered 2.00%
19 20 Commerzbank 1.59%
20 18 NatWest 1.07%
Swaps e-trading market share
Rank 2020 Rank 2019 Counterparty Market Share % 2020
1 6 HSBC 11.25%
2 5 UBS 10.14%
3 3 Citi 9.95%
4 2 JPMorgan 9.11%
5 1 State Street 8.92%
6 8 Barclays 6.54%
7 4 Deutsche Bank 6.06%
8 7 Bank of America 4.80%
9 9 BNP Paribas 4.72%
10 10 Goldman Sachs 4.07%
11 14 Morgan Stanley 2.78%
12 12 Standard Chartered 2.20%
13 16 NatWest 2.02%
14 13 Credit Agricole 1.73%
15 11 Societe Generale 1.64%
16 29 Bank of New York Mellon 1.48%
17 17 National Australia Bank 1.47%
18 15 Westpac Banking Corporation 1.36%
19 20 Credit Suisse 1.21%
20 18 RBC Capital Markets 1.06%
Options e-trading market share
Rank 2020 Rank 2019 Counterparty Market Share % 2020
1 5 Deutsche Bank 22.46%
2 1 JPMorgan 17.22%
3 3 UBS 13.95%
4 6 Bank of America 12.42%
5 14 NatWest 6.18%
6 2 Citi 4.77%
7 7 Barclays 4.55%
8 4 HSBC 4.22%
9 8 Goldman Sachs 3.01%
10 11 BNP Paribas 2.77%
11 9 Standard Chartered 2.15%
12 13 Morgan Stanley 1.97%
13 10 Societe Generale 1.01%
14 18 Credit Suisse 0.98%
15 32 Zürcher Kantonalbank 0.79%
16 19 RBC Capital Markets 0.27%
17 17 Credit Agricole 0.26%
18 37 Allied Irish Banks 0.18%
19 26 BBVA 0.13%
20 20 Group BPCE 0.

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