FX profile: Barclays Capital revamps FX swaps, adds Asian impetus, in push for No.1 in FX
Since 2008, Barclays Capital has narrowed the margin on the market leader Deutsche Bank in the Euromoney FX survey from 12.58% to 4.89%. On average, the gap has narrowed 2.56% each year. Can it beat the average this year and topple Deutsche?
According to Nick Howard, the bank’s global head of FX sales, it could be a tight finish. During the past 12 months, the bank has attempted to round out its FX franchise – where it has been more renowned for its spot provider – by boosting the business it does in the swaps and forwards markets. By building better electronic pricing and adding new work-flow functionality for its clients, BarCap has ramped up its capacity to process swap and forward trades. As a result, swaps volumes were up 25%, and forwards rose sharply...
Voting for the Euromoney FX Survey 2012 is underway. In the run up to the results and award dinner in May, EuromoneyFXNews will be running a series of profiles of the top banks in the FX industry.