FX Survey 2018: Results index
Overall market share
Spot/forward market share
Swap market share
Options market share
Emerging market currencies market share
Market share by institution type
FX trading platforms
Overall electronic market share
Market share by product
Spot e-trading market share
Swap e-trading market share
Options e-trading market share
Multi-bank and independent platforms
Overall market share
Best Service Ranking explained:
Our Best Service Awards are based on Customer Satisfaction (CSAT) feedback gathered in our survey. The rankings we generate are determined by the value that respondents place on the services offered by their providers (they can select: Not important – Somewhat important – Very important – Essential – N/A).
Later in the survey, after a respondent designates his/her counterparties, we ask how well those counterparties deliver these services (they can select: Unsatisfactory – Improvement needed – Meets expectations – Exceeds expectations – Exceptional – N/A).
Our standard Customer Satisfaction ranking is to take the services a respondent has designated Very Important and Essential and then look at how each counterparty has performed. We measure the performance as a net score by adding the percentage of “exceeds expectations” and “exceptional” responses and then subtracting the percentage of “unsatisfactory” and “improvement needed” responses. It gives us a net percentage score for each counterparty that shows how good they are at delivering on the services their customers rank as important. This is also depicted in table format here.
Banks go back to nuts and bolts
With a spike in volatility and the opportunity to consign conduct issues to the past, this might have been a turning point for global FX, but faced with a range of challenges, many market makers are retreating to core competencies.
…if you’re big, fast or specialized in modern foreign exchange. That has led to dramatic changes in the volume-based rankings in our annual survey. Meanwhile, new customer satisfaction ratings give a different insight into the banks’ relationships with their clients.
Scaling back forex businesses should be welcomed
Banks are having to pedal back on big ambitions and focus instead on core competencies, but that could be positive for all.
Traders warn buy side must embrace the FX Code too
Adherence to the FX Global Code has gained momentum ahead of the one-year deadline on Friday, but senior traders are concerned the buy side is less committed than the sell side.