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Surveys

FX Survey 2018: Global Best Service

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Global Customer Satisfaction: Service Categories

  • Overall

  • Salesforce

  • Research

  • Service

  • Algorithmic Trading



Global Customer Satisfaction: Client Types

Banks

  • Overall

  • Salesforce

  • Research

  • Service

  • Algorithmic Trading

Corporates

  • Overall

  • Salesforce

  • Research

  • Service

  • Algorithmic Trading

FX Trading Platforms

  • Overall

  • Salesforce

  • Research

  • Service

  • Algorithmic Trading

Leveraged Funds

  • Overall

  • Salesforce

  • Research

  • Service

  • Algorithmic Trading


Real Money

  • Overall

  • Salesforce

  • Research

  • Service

  • Algorithmic Trading

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Global Customer Satisfaction: Service Categories
Overall 
2018 Liquidity Provider Score (%)
1 State Street 55.42%
2 Bank of America Merrill Lynch 45.02%
3 Standard Chartered 44.96%
4 Goldman Sachs 40.40%
5 JPMorgan 39.09%
6 Societe Generale 38.80%
7 Citi 35.77%
8 UBS 35.19%
9 Deutsche Bank 34.07%
10 Barclays 32.45%
11 Commerzbank 31.10%
12 Morgan Stanley 30.77%
13 HSBC 29.53%
14 Credit Suisse 25.96%
15 BNP Paribas 22.54%
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SalesForce
2018 Liquidity Provider Score (%)
1 XTX Markets 66.2%
2 State Street 60.3%
3 Standard Chartered 50.8%
4 Bank of America Merrill Lynch 48.7%
5 Societe Generale 42.4%
6 Goldman Sachs 41.2%
7 JPMorgan 39.4%
8 Citi 35.5%
9 UBS 34.4%
10 Barclays 33.2%
11 Deutsche Bank 32.6%
12 HSBC 31.8%
13 Commerzbank 24.9%
14 Morgan Stanley 24.5%
15 Credit Suisse 22.2%
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Research
2018 Liquidity Provider Score (%)
1 State Street 54.1%
2 Standard Chartered 39.9%
3 Bank of America Merrill Lynch 39.2%
4 Goldman Sachs 37.3%
5 JPMorgan 34.9%
6 Morgan Stanley 34.0%
7 Commerzbank 33.7%
8 Citi 33.3%
9 Societe Generale 33.1%
10 HSBC 29.0%
11 UBS 27.1%
12 Deutsche Bank 26.8%
13 Barclays 24.3%
14 BNP Paribas 17.3%
15 Credit Suisse 16.9%
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Service
2018 Liquidity Provider Score (%)
1 State Street 58.3%
2 XTX Markets 58.3%
3 Bank of America Merrill Lynch 47.3%
4 Standard Chartered 46.1%
5 JPMorgan 42.2%
6 Societe Generale 41.8%
7 Goldman Sachs 41.3%
8 UBS 39.2%
9 Deutsche Bank 37.7%
10 Citi 36.2%
11 Barclays 36.1%
12 Commerzbank 33.5%
13 Morgan Stanley 32.5%
14 Credit Suisse 29.6%
15 HSBC 29.3%
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Algorithmic Trading
2018 Liquidity Provider Score (%)
1 XTX Markets 44.7%
2 State Street 40.1%
3 Goldman Sachs 39.5%
4 Bank of America Merrill Lynch 38.5%
5 Citi 38.5%
6 Standard Chartered 38.3%
7 JPMorgan 33.8%
8 Deutsche Bank 33.3%
9 UBS 32.7%
10 Morgan Stanley 32.4%
11 Credit Suisse 31.7%
12 Societe Generale 30.1%
13 Barclays 30.1%
14 Commerzbank 29.2%
15 HSBC 26.8%
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Global Customer Satisfaction: Client Types
Banks
Overall 
2018 Liquidity Provider Score (%)
1 Standard Chartered 46.39%
2 JPMorgan 45.33%
3 Commerzbank 44.38%
4 UBS 43.40%
5 State Street 42.72%
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SalesForce
2018 Liquidity Provider Score (%)
1 JPMorgan 54.2%
2 Standard Chartered 53.0%
3 State Street 50.7%
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Research
2018 Liquidity Provider Score (%)
1 Commerzbank 50.9%
2 Standard Chartered 40.8%
3 UBS 39.4%
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Service
2018 Liquidity Provider Score (%)
1 JPMorgan 47.6%
2 Standard Chartered 47.1%
3 State Street 45.5%
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Algorithmic Trading
2018 Liquidity Provider Score (%)
1 JPMorgan 44.6%
2 Standard Chartered 42.6%
3 UBS 42.5%
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Corporates
Overall 
2018 Liquidity Provider Score (%)
1 Standard Chartered 46.45%
2 Societe Generale 44.35%
3 Bank of America Merrill Lynch 43.16%
4 Goldman Sachs 39.22%
5 JPMorgan 35.77%
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SalesForce
2018 Liquidity Provider Score (%)
1 Standard Chartered 50.5%
2 Societe Generale 43.3%
3 Bank of America Merrill Lynch 43.1%
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Research
2018 Liquidity Provider Score (%)
1 Goldman Sachs 45.0%
2 Standard Chartered 44.9%
3 Bank of America Merrill Lynch 40.3%
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Service
2018 Liquidity Provider Score (%)
1 Societe Generale 49.3%
2 Bank of America Merrill Lynch 47.1%
3 Standard Chartered 46.5%
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Algorithmic Trading
2018 Liquidity Provider Score (%)
1 NatWest 41.7%
2 Standard Chartered 41.6%
3 Societe Generale 39.0%
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FX Trading Platforms
Overall 
2018 Liquidity Provider Score (%)
1 XTX Markets 66.20%
2 Barclays 56.25%
3 Deutsche Bank 34.71%
4 Standard Chartered 33.04%
5 UBS 30.59%
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SalesForce
2018 Liquidity Provider Score (%)
1 XTX Markets 72.2%
2 Barclays 70.0%
3 UBS 46.2%
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Research
2018 Liquidity Provider Score (%)
1 Barclays 75.0%
2 XTX Markets 41.2%
3 Deutsche Bank 23.5%
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Service
2018 Liquidity Provider Score (%)
1 XTX Markets 71.2%
2 Barclays 47.5%
3 Standard Chartered 38.5%
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Algorithmic Trading
2018 Liquidity Provider Score (%)
1 XTX Markets 60.9%
2 Barclays 50.0%
3 Deutsche Bank 50.0%
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Leveraged Funds
Overall 
2018 Liquidity Provider Score (%)
1 State Street 65.7%
2 Bank of America Merrill Lynch 62.4%
3 Citi 48.9%
4 Standard Chartered 36.4%
5
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SalesForce
2018 Liquidity Provider Score (%)
1 State Street 72.4%
2 Bank of America Merrill Lynch 67.3%
3 Standard Chartered 50.0%
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Research
2018 Liquidity Provider Score (%)
1 State Street 65.6%
2 Bank of America Merrill Lynch 56.5%
3 Citi 55.8%
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Service
2018 Liquidity Provider Score (%)
1 State Street 64.7%
2 Bank of America Merrill Lynch 60.2%
3 Citi 48.5%
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Algorithmic Trading
2018 Liquidity Provider Score (%)
1 Bank of America Merrill Lynch 65.2%
2 Citi 65.0%
3 State Street 56.5%
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Real Money
Overall 
2018 Liquidity Provider Score (%)
1 State Street 57.00%
2 Bank of America Merrill Lynch 53.51%
3 Citi 42.89%
4 Goldman Sachs 39.10%
5 JPMorgan 38.62%
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SalesForce
2018 Liquidity Provider Score (%)
1 State Street 60.7%
2 Bank of America Merrill Lynch 54.7%
3 Barclays 42.9%
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Research
2018 Liquidity Provider Score (%)
1 Bank of America Merrill Lynch 62.1%
2 State Street 57.4%
3 Citi 49.2%
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Service
2018 Liquidity Provider Score (%)
1 State Street 60.7%
2 Bank of America Merrill Lynch 52.0%
3 JPMorgan 47.1%
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Algorithmic Trading
2018 Liquidity Provider Score (%)
1 Citi 45.8%
2 BNP Paribas 44.7%
3 Bank of America Merrill Lynch 43.6%
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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.



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