FX survey 2015 commentary: Asia
Asia is the battleground for much of the global investment banking industry. And as more Asian corporates grow their share of global trade, and the renminbi continues its inexorable rise to become one of the world’s most traded currencies, that’s truer in FX than perhaps in any other sector.
FX Survey: Asian banks
It’s worth looking at how FX volumes in Asia have changed over the past five years. In 2010, Deutsche Bank dominated with a market share of more than 22%. It still leads this year, but its market share has fallen.
In 2010, Citi was clearly underperforming in Asia given its footprint in the region. Now it’s narrowing the gap to Deutsche fast.
Barclays and UBS used to be the closest challengers; both have seen considerable declines in Asian market shares over the past five years.