The client poll
Euromoney collected data for its FX survey by polling named individuals at industrial and commercial corporations, financial institutions, institutional investors and state agencies.
We received 659 valid replies, 80% more responses than last year's figure of 366.
Breakdown by type:
(2000 figures in brackets): corporates 56% (57)%, hedge funds 7% (5%), non-market-making banks 6% (7%), mutual funds/unit trusts 5% (4%), insurance company asset management divisions 5% (4%), pension funds 3% (4%), independent investment advisors 3%, other asset managers 3%, brokerage affiliates 1%, state agencies 2%, others 9%.
Breakdown by region:
(2000 figures in brackets): Europe excluding UK 38.5% (27%), North America 15% (34%), Asia and Australia 29% (18%), UK 14% (17%), Africa, Middle East and Latin America 3.5% (4%). Questionnaires were sent out both electronically and by fax in English, French, German, Spanish, Portuguese and Japanese.
Overall ranking by market share:
based on the total volume of FX business placed annually with each bank. To obtain this figure, we asked respondents to estimate the proportion of their total annual FX dealings placed with up to 10 individual banks.
Key relationship banks:
respondents rated banks in terms of currency risk management, taking into account all their currency exposure.