The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Awards for Excellence 2014: Best global flow house

While flow business models are likely to remain challenged, it is clear that there is a new long-term challenger to the traditional flow monsters.

Best global flow house:


Also shortlisted:
  Deutsche Bank

View more 2014 awards

The flow business – for so long the biggest driver of investment bank earnings – faces some of the toughest challenges, whichever asset class you look at.

Foreign exchange has its investigation into potential collaboration and price fixing, with FX dealers complaining that the information flow that has traditionally driven a lot of business is drying up, and volumes with it. That’s not to mention the likelihood that the biggest FX houses might face some very big fines.

Credit markets, which have always struggled to provide liquidity, are hamstrung more than ever by the inability of traditional bank dealers to carry the same levels of inventory as they used to.

In commodities, many banks have decided to retreat from the business because of the twin challenges of a changing regulatory environment and the increasing power of specialist commodity traders.

Equity markets have been on a good run, but the battleground is crowded.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree