FX Survey 2018: Overall results

Overall Market Share
2018	2017	Liquidity Provider	%Market share
1	2	JPMorgan	12.13%
2	3	UBS	8.25%
3	12	XTX Markets	7.36%
4	4	Bank of America Merrill Lynch	6.20%
5	1	Citi	6.16%
6	6	HSBC	5.58%
7	8	Goldman Sachs	5.53%
8	5	Deutsche Bank	5.41%
9	9	Standard Chartered	4.49%
10	11	State Street	4.37%
11	7	Barclays	4.09%
12	10	BNP Paribas	3.31%
13	-	HCTech	3.05%
14	24	Jump Trading	2.38%
15	14	Societe Generale	2.19%
16	15	Morgan Stanley	2.16%
17	19	Commerzbank	1.78%
18	16	Credit Suisse	1.68%
19	13	NatWest	1.48%
20	21	Citadel Securities	1.19%
21	18	Credit Agricole	1.09%
22	17	Nomura	1.08%
23	20	RBC Capital Markets	0.96%
24	27	Westpac Banking Corporation	0.60%
25	25	MUFG Bank	0.57%
26	26	SMBC	0.56%
27	23	Alfa Bank	0.52%
28	32	TD Securities	0.48%
29	35	National Australia Bank	0.47%
30	22	ANZ Banking Group	0.45%
31	45	Bank of New York Mellon	0.41%
32	36	Natixis	0.36%
33	30	Saxo Bank	0.33%
34	41	CIBC	0.23%
35	34	ING Group	0.20%
36	50	BBVA	0.19%
37	39	Virtu Financial	0.19%
38	42	SEB	0.18%
39	55	Scotiabank	0.15%
40	60	Landesbank Baden-Wurttemberg (LBBW)	0.15%
41	40	Bank of Montreal	0.14%
42	48	Santander Group	0.13%
43	-	CCM Alpha	0.11%
44	44	UniCredit	0.10%
45	38	Commonwealth Bank of Australia	0.10%
46	46	Danske Bank	0.09%
47	57	Lloyds Banking Group	0.08%
48	43	Zurich Cantonalbank	0.08%
49	54	Raiffeisen Bank International	0.08%
50	28	Mizuho Financial Group	0.08%
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Global Market share by Product
Spot/Forward
2018	2017	Liquidity Provider	%Market share
1	1	JPMorgan	13.35%
2	4	XTX Markets	9.55%
3	5	UBS	6.89%
4	3	Bank of America Merrill Lynch	6.77%
5	7	Goldman Sachs	6.03%
6	2	Citi	5.84%
7	6	Deutsche Bank	5.56%
8	8	HSBC	5.23%
9	10	Standard Chartered	4.20%
10	-	HCTech	3.96%
11	9	Barclays	3.75%
12	11	State Street	3.36%
13	12	BNP Paribas	3.31%
14	20	Jump Trading	3.08%
15	14	Morgan Stanley	2.25%
16	19	Commerzbank	2.16%
17	15	Credit Suisse	1.76%
18	16	Citadel Securities	1.54%
19	13	NatWest	1.54%
20	18	Nomura	1.36%
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Swaps
2018	2017	Liquidity Provider	%Market share
1	3	UBS	12.99%
2	10	State Street	8.06%
3	2	JPMorgan	7.91%
4	1	Citi	7.18%
5	7	HSBC	6.73%
6	13	Societe Generale	5.46%
7	8	Standard Chartered	5.32%
8	6	Barclays	5.30%
9	5	Deutsche Bank	4.79%
10	11	Goldman Sachs	3.78%
11	4	Bank of America Merrill Lynch	3.73%
12	9	BNP Paribas	3.27%
13	15	Credit Agricole	2.65%
14	16	RBC Capital Markets	2.29%
15	36	SMBC	2.05%
16	18	Westpac Banking Corporation	1.90%
17	14	Morgan Stanley	1.77%
18	27	National Australia Bank	1.38%
19	17	Credit Suisse	1.37%
20	12	NatWest	1.28%
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Options
2018	2017	Liquidity Provider	%Market share
1	2	Bank of America Merrill Lynch	19.17%
2	5	JPMorgan	10.57%
3	6	Standard Chartered	9.53%
4	4	Citi	8.56%
5	9	UBS	7.82%
6	11	HSBC	7.40%
7	4	Deutsche Bank	7.29%
8	8	Societe Generale	5.40%
9	1	Goldman Sachs	5.23%
10	10	BNP Paribas	4.29%
11	14	Morgan Stanley	4.01%
12	12	Barclays	3.90%
13	17	Credit Suisse	1.81%
14	7	NatWest	1.51%
15	21	Credit Agricole	0.69%
16	13	Nomura	0.46%
17	19	Natixis	0.36%
18	16	MUFG Bank	0.32%
19	24	Zurich Cantonalbank	0.20%
20	38	ANZ Banking Group	0.15%
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Emerging Market currencies
2018	2017	Liquidity Provider	%Market share
1	1	Standard Chartered	10.42%
2	2	JPMorgan	9.41%
3	4	XTX Markets	8.88%
4	6	HSBC	7.06%
5	3	Citi	6.73%
6	5	Deutsche Bank	6.48%
7	8	UBS	6.23%
8	7	Bank of America Merrill Lynch	5.23%
9	11	State Street	5.01%
10	10	Goldman Sachs	4.59%
11	9	Barclays	3.39%
12	14	BNP Paribas	3.04%
13	12	Societe Generale	2.84%
14	39	SMBC	2.31%
15	16	Morgan Stanley	2.11%
16	17	Credit Suisse	1.71%
17	18	Credit Agricole	1.14%
18	62	Jump Trading	1.11%
19	24	Nomura	1.11%
20	20	Commerzbank	1.07%
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FX Survey 2018: Overall results

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