Investigations into allegations of market fixing in foreign exchange are spreading into the very heart of the business. Those running the world’s biggest FX houses live in fear of what analysis of hundreds of millions of calls and emails will unearth. Do investigators and regulators risk bringing down the axe on a market that has always provided unrivalled liquidity and ultra-tight pricing for clients?
Who would be a global head of foreign exchange in a market like this? Most of them are spending the vast majority of their days dealing with investigations, rather than thinking strategically about their business or going out to see clients.
Ranking FX banks by market share around the globe, the Euromoney FX Survey is the industry's leading review of FX trading, research and e-business capabilities for corporates, real money, banks, and leveraged funds. Find out who's best for trading what currency where.
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Rising up the Euromoney FX overall rankings
The big winners in the 2014 FX Survey results over the past three years have seen their FX trading volumes significantly increase:
|Top 10 risers in overall rating, 2011 to 2014|
|Bank||Rank change since 2011||Market share change (%)||Volume change ($mln)||Volume change (%)|
|National Australia Bank||25||0.43||1,012,005||694.3|
|ANZ Banking Group||22||0.52||1,205,097||725.6|
|Westpac Banking Corporation||10||0.6||1,534,418||241.3|
|Bank of America Merrill Lynch||5||1.43||4,634,197||88.7|
|Sumitomo Mitsui Banking Corporation||3||0.01||152,254||31.5|
Read about how the following banks performed in this year's survey:
The FX Survey is the most comprehensive quantitative and qualitative annual study available on the FX markets. The FX market is an unregulated OTC market and there are no reliable, aggregated, global statistics made available against which to benchmark the survey outside the BIS studies. The FX Survey allows market participants to discern the relative performance of the foreign exchange activity of the banks ranked in the survey.
As well as quantitative data on a global, regional and client and product-type basis, Euromoney also publishes qualitative performance rankings across a similar range of categories. View more information.
FX Survey 2014 Respondent Report
You can download our exclusive FX data reports, defining the key trends and providing essential analysis of the FX industry. These reports provide a small sample of the data collected during our research process and are made available for free.