Citi and Deutsche Bank share pole position in the global foreign exchange (FX) market in the 2015 Greenwich Leaders league compiled by Greenwich Associates.
The market intelligence firm reports that the two firms are deadlocked atop the global FX market, with market shares in trading of 11.6-11.7%. UBS and Barclays are next, tied with market shares of 10.0-10.2%. JP Morgan rounds out the global top five with a market share of 7.4%. These firms are the 2015 Greenwich Share Leaders in Global Top-Tier Foreign Exchange Market Share.
According to the report, among the leading dealers JP Morgan stood out in 2014 for gaining market share, a feat that narrowed the gap between the bank and the four traditional global FX leaders. Citi was also notable for maintaining stable market share from year to year. Bank of America Merrill Lynch posted the largest gain in market share this year. BNP Paribas and Goldman Sachs also gained meaningful share.
“With market shares trending lower among the world’s largest FX dealers, stable is the new up,” said Greenwich Associates consultant Tim Sangston.
Financial institutions and companies reduced the share of their FX trading volume executed through the world’s leading FX dealers last year. In the current environment, a less concentrated FX market might actually be welcomed by some of the world’s biggest FX dealers, the firm notes.
Facing balance sheet pressure and intense scrutiny from regulators, some of these top firms are taking a more balanced approach between maximising market share and client profitability.
“Meanwhile, the movement of trading volumes to electronic, multi-dealer trading platforms is making it easier for customers to spread their business more widely among dealers,” said Greenwich Associates consultant Woody Canaday.
Sibos 2017 Day Two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.
Chicago based Treasury Management System (TMS) vendor GTreasury and Sydney based risk and treasury management vendor Visual Risk have joined forces in a strategic alliance to ... read more