The client poll Euromoney collected data for its FX survey by polling named individuals at industrial and commercial corporations, flnancial institutions, institutional investors and state agencies.We received 366 replies.
Breakdown by type:(1999 flgures in brackets): corporates 57% (56%), non-market-making banks 7% (16%), investment managers 14% (10%), hedge funds 5% (4%), mutual funds 4% (3%), insurance companies 4% (3%), pension funds 4% (2%), others including state agencies 5%.
Breakdown by region (1999 flgures in brackets): Europe excluding UK 27% (37%), North America 34% (22%), Asia and Australia 18% (20%), UK 17% (15%), Africa 3% (4%), Middle East and Latin America 1% (2%).
Overall ranking by market share: based on the total volume of FX business placed annually with each bank. To obtain this flgure, 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. This table takes no account of market share and scores were awarded on a sliding scale from 10 to 1.
Other results were compiled on a scale of 4:3:2 and are not weighted according to volume either.
The interbank poll Chief dealers and heads of FX in London, New York and Tokyo nominated up to three banks they viewed as top overall market-makers in terms of pricing and execution and as best at dealing in speciflc currencies and currency pairs. We received 50 replies. Points were awarded on a sliding scale of 4:3:2 and were not weighted according to volume.
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