JPMorgan’s market share of 10.78% in this year’s survey was up from 9.81% in 2019 and well ahead of UBS with 8.13%. XTX and Deutsche Bank were not far behind, but then it is quite a gap to last year’s third-placed Citi in fifth.
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One of the factors likely to have contributed to JPMorgan’s strong showing is its electronic trading capabilities.
Renowned for investing big sums in technology, earlier this year the bank’s FX e-commerce team was talking about a big increase in volumes of algos for tickets with a notional value above $10 million, with almost two thirds of these orders traded algorithmically in March alone.
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