Citibank has 100 years' experience of foreign exchange and is still top of the pile. It widened its lead over the number two bank in our 1997 global foreign exchange poll (Euromoney May 1997). Citibank has the largest and most diversified forex network, spanning almost 100 countries, and has a very strong presence in emerging markets, trading 140 currencies from 80 treasury operations.
Citibank's plans for the future include preparing its clients for European monetary union, expanding operations in emerging markets and keeping its highly successful forex options business growing.
One to watch Merrill Lynch Merrill Lynch had an unexpected leap up to third place in Euromoney's 1997 foreign exchange survey. With an ongoing commitment to expand its sales and spot teams, Merrill seems set to consolidate its gains in the business, if not to expand even further.
One to watch DMG Another big mover in Euromoney's 1997 foreign exchange survey, going from 22 to ninth place after a year of consolidated effort on the foreign exchange front to put its interbank dealing status to good use.