FX Survey 2021: Fast forward to the future
This year’s FX survey reflects huge disruption and transition across the industry. Pandemic-driven technological advances saw traders tackle a surge in business while working remotely – supercharging change that will permanently alter the way the industry operates.
The past 12 months have been among the most challenging in the history of foreign exchange. The global pandemic saw the markets tackle a surge in volatility, the disruption of remote working and the consequent rise of electronic and algorithmic trading.
Negotiating this environment does not seem to have fazed JPMorgan, which again tops the overall market ranking in our FX survey this year. UBS is again ranked second and Deutsche Bank moves up the ranking from fourth last year to third in 2021.
The overall top six is completed by fourth-ranked XTX Markets, which falls one place from last year, Citi, which maintains last year’s fifth position, and Jump Trading, which moves up from seventh to sixth.