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Foreign Exchange

FX survey 2015 commentary: Real money

Real money 2015

Results index

Euromoney comments: 

No sector has become more competitive than real money – trading FX for the biggest fund managers such as Blackrock, Fidelity and GSAM. These are clients who can choose to trade with any foreign exchange counterparty, and often do so in large size.

FX survey: Real money



It’s also a market in which sales has traditionally played its most important role, with client dealers offering rewards to banks through trades for the salespeople who give them the best market information – although the ability to give non-privileged information to clients has been challenged by investigations into the FX industry.


The gap between first and fourth place is little more than a percentage point; in 2013 it was four percentage points. All the top four real money banks lost market share this year.


Citi just holds on to top spot from Deutsche Bank, which jumps two places to second – and falls just 0.03 percentage points off first place. JPMorgan slips from second to sixth place. Just below the top five, BNP Paribas is the biggest climber, from 11th  last year to seventh in 2015.

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