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Deutsche Bank Tops Global Forex Trading Market - Greenwich Associates

Greenwich Associates have announced their 2013 Leaders in Foreign Exchange Services survey which shows Deutsche Bank hitting the topping all competitions with a 10.7% market share in global FX trading.

Citi, UBS and Barclays were all in a statistical tie for second place with a market share of around 10%, followed by HSBC and JPMorgan who were tied at 7%. Greenwich Associates consultant Woody Canaday writes, “The research results show that the top three dealers – Citi, Deutsche Bank and UBS – demonstrated the most momentum in FX trading last year with meaningful gains in market share,” He continues to add, “UBS gained market share, especially among financials and partially as a result of its strong electronic trading capabilities. Notably, Bank of America Merrill Lynch added share among both corporate and financial FX users.”

Looking deeper into the results, Deutsche and UBS ranked top amongst Financials, with a statistical tie for first place with market shares of 11.3% and 11% respectively. They were followed by Citi and Barclays at 10.1% and HSBC and JPMorgan at 6.9% and 6.8%. Shifting to Corporates, Citi came out on top, claiming the title of 2013 Greenwich Quality Leader in Global Top-Tier Foreign Exchange Service.

A global world needs global capabilities and the strength of the world’s leading FX dealers can be attributed in large part to the breadth of their capabilities around the world. The Greenwich team note, for example, that while UBS and Deutsche Bank enjoy a commanding lead in the European FX market with market shares of 11.2% and 11.1%, U.S.-based Citi ties with Barclays for the next position with a market share of 9.4%.

In the United States, UBS sits in a statistical tie with Citi for the market lead with market shares of 11.5% and 11.1%, with Deutsche Bank holding the next slot at 10.3%. Meanwhile, in Asia, Barclays and Citi are tied for second place behind only HSBC, which maintains a dominant market share of 13.5%. Finally, Deutsche Bank’s 13.6% market share in Japan makes the bank the clear leader in that market, followed by Barclays, UBS and Citi.

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