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FX Stars 2017: Methodology

This year for the first time, Euromoney has produced the FX Stars, which recognizes liquidity providers with exceptional qualitative ratings in particular regions and areas of client service. 

To produce the results, Euromoney examined the FX Survey’s 10 Quality of Service questions and split them into five buckets:

1.      Breadth & Capacity – Breadth of product coverage and ability to deal in size.

2.      Execution – Trader quality.

3.      Salesforce coverage – Excellence of salesforce in Asia, the Americas and Europe.

4.      Research – Including flow research, quantitative research and technical analysis.

5.      Solutions – Provision of risk management strategies.

For a bank to qualify for star consideration in each category, it had to receive at least 10 votes or 5% of the total votes cast (whichever was greater) for at least one question in that category.

In each category, clients had ranked liquidity providers on a scale of 1 to 7, with 1 being the top and indicating exceptional quality in that area of service. Scores were derived from these rankings by applying a numeric weighting of 7 to a 1st place ranking, 6 for 2nd place, and so on.

To determine the stars in each category, the average scores for each question earned by a qualifying bank in that category were totalled and divided by the number of questions in that category to achieve an equal-weighted average.

The bank with the highest average score in each category received a star. Any other bank within 5% of that high average score received a star.

See also: FX Survey 2017: Results

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