Euromoney FX Survey 2019 – results released

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Euromoney magazine has released the results of its 41st annual foreign exchange survey, the most comprehensive quantitative and qualitative annual study available on the FX markets.

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© 2019 Euromoney
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Among the key findings:

  • JPMorgan retains the top ranking
  • The overall unadjusted volume is $121.1 trillion – the highest volume recorded since 2015
  • Among the top 10, only one firm keeps its 2018 position
  • Deutsche Bank jumps from 8th to 2nd place
  • Bank of America Merrill Lynch drops from 4th to 9th place
  • The top 5 maintain a global market share of 40%

Detailed information:

Top 10 overall market share:

Global Market Share
Overall Volume (Adjusted SWAPS*)
Rank 2019Rank 2018CounterpartyMarket share 2019
11JPMorgan9.81%
28Deutsche Bank8.41%
35Citi7.87%
43XTX Markets7.22%
52UBS6.63%
610State Street5.50%
713HCTech5.28%
86HSBC4.93%
94Bank of America Merrill Lynch4.63%
107Goldman Sachs4.50%


About the FX Survey

The Euromoney Foreign Exchange Survey is the most comprehensive quantitative and qualitative annual study available on the FX markets. The 2019 Euromoney FX Survey was the 41st annual survey of liquidity consumption within the global FX markets conducted by Euromoney. In 2019, Euromoney received 1,966 valid responses from consumers of FX liquidity representing total FX consumption of $121.1 trillion in the calendar year 2018. Total response excluding short-dated swaps was 1,951, representing total FX consumption of $91.69 trillion*.

Only subscribers have full access to the results. If you are not yet a subscriber, but wish to access the results from the day of release, subscribe online now or call our subscription hotline on +44 207 779 8999.


FX Survey contacts

For questions related to the survey:

Vivian Grossi, Survey Engagement Manager, Euromoney Data

+44 (0) 207 779 8366

Vivian.Grossi@euromoneyplc.com

To access the detailed rankings/analysis:

Mark Lilley, Publisher, Euromoney Data

+34 915 946 046

mark.lilley@euromoneyplc.com

* The 2019 rankings are based on swaps-adjusted volumes that exclude volumes from short-dated swaps. For more information, please see the survey methodology.