The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

FX Survey 2020: Press Release

Euromoney magazine has released the results of its 42nd annual foreign exchange survey, the most comprehensive quantitative and qualitative annual study available on the FX markets.



Euromoney FX Survey 2020 results released 

Euromoney magazine has released the results of its 42nd annual foreign exchange survey, the most comprehensive quantitative and qualitative annual study available on the FX markets.



Among the key findings: 

  • JPMorgan retains the top volume ranking for the third consecutive year.

  • State Street returns to the top of the customer satisfaction (CSAT) rankings.

  • Refinitiv continues to top the multi-dealer platform volume ranking and pairs this with first place in customer satisfaction for these platforms.

  • A brand-new category in the CSAT rankings goes straight to the top of client priorities.

  • Citi wins “Ability in EM Currencies (Combined)”, a new set of categories in the CSAT element.



Detailed information:

  • Full results

  • Methodology

Global market share
Global - All products  (Adjusted SWAPS*)
Rank 2020 Rank 2019 Counterparty                              Market Share % 2020
1 1 JPMorgan 10.78%
2 5 UBS 8.13%
3 4 XTX Markets 7.58%
4 2 Deutsche Bank 7.38%
5 3 Citi 5.50%
6 8 HSBC 5.33%
7 11 Jump Trading 5.23%
8 10 Goldman Sachs 4.62%
9 6 State Street 4.61%
10 9 Bank of America 4.50%


About the FX Survey

The Euromoney Foreign Exchange Survey is the most comprehensive quantitative and qualitative annual study available on the FX markets. The 2020 Euromoney FX Survey was the 42nd annual survey of liquidity consumption within the global FX markets conducted by Euromoney. In the 2020 survey, Euromoney received 1,596 valid responses from consumers of FX liquidity, representing total FX consumption of $104.2 trillion in the calendar year 2019.

Total response excluding short-dated swaps was 1,585, representing total FX consumption of $80.53 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: 

Mark Lilley, Head of Insight 

mark.lilley@euromoneyplc.com

+34 915 946 046 



Vivian Grossi, Survey Engagement Manager

Vivian.Grossi@euromoneyplc.com

+44 (0) 207 779 8366



To access the detailed rankings/analysis: 

Cameron Simmonds, Head of Sales

cameron.simmonds@euromoney.com

+44 (0) 207 779 7301



*The 2020 rankings are based on swaps-adjusted volumes that exclude volumes from short-dated swaps. For more information, please see the survey methodology.





We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree