FX poll methodology
Including breakdown by country; region and institution type; and country and institution type. Published 1 Jan 2008
Euromoney collected data for its 2007 FX survey by polling named individuals at industrial and commercial corporations, financial institutions, institutional investors and state agencies.
We received 8,337 valid replies, an increase of 32% over last year’s figure of valid replies received. The poll was conducted for 7.5 calendar weeks from Tuesday, January 16th until Friday, March 9th 2007.
A further 1529, or 15% of the total of 9,866 submitted, were deleted for the following reasons
1. FX service providers were voting for themselves
2. Euromoney did not receive confirmation from the respondent of their identity.
3. Voters submitted more than one ballot.
Questionnaires were sent out as online surveys in English, French, German, Spanish, Portuguese, Turkish, Korean, Japanese, Mandarin and Russian. The questionnaire was also available on request in PDF format in English, German and Japanese.
Respondents were asked to choose from the above categories that/those which best described their business activities. A number of people chose more than one category, which is why breakdowns by votes cast may add up to more than 100%!
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 their 10 top counterparties.
Total business placed with each service provider across all questionnaires received was then divided by total business on all questionnaires – $124trn US (up 46% on the 2006 sample size of $85trn US) - to arrive at a market share figure.
Other results were compiled on a scale of 4:3:2 for first, second and third place respectively. They are NOT weighted according to volume.