Euromoney collected data for its foreign exchange survey by polling named individuals at industrial and commercial corporations, financial institutions, institutional investors and state agencies. We received 1,445 valid replies, 120% more respondents than last year's 659.
Breakdown by type (2001 figures in brackets): corporates 51.4% (56)%, hedge funds 8% (7%), non-market-making banks 14.5% (6%), mutual funds/unit trusts 7.6% (5%), insurance company asset management divisions 4.4% (5%), pension funds 3.5% (3%), independent investment advisers 3.7% (3%), brokerage affiliates 3.5% (1%), others 1.3% (9%).
Breakdown by region (2001 figures in brackets): Europe excluding UK 38.2% (38.5%), North America 23.7% (15%), Asia and Australia 23.5% (29%), UK 11.6% (14%), Africa, Middle East and Latin America 3% (3.5%). Questionnaires were sent out both electronically and by fax in English, French, German, Spanish, Portuguese and Japanese.
Overall ranking by market share: based on the total volume of foreign exchange business placed annually with each bank. To obtain this figure, we asked respondents to estimate the proportion of their total annual foreign exchange dealings that were placed with up to 10 individual banks. 1,200 respondents supplied this.
All other results were compiled on a scale of 4:3:2 and are not weighted according to volume.