The $5.6 billion of fines handed out to six leading foreign exchange banks will not be the end of the crisis afflicting FX, but it might be the beginning of the end. The people at the top of the industry are starting to think more deeply about what will drive success in the FX markets of the future. How can foreign exchange rebuild its zest, and its reputation?

The headline results of Euromoney's 2015 foreign exchange survey show the leading banks have been remarkably consistent, despite the upheavals in the sector. But, beneath the surface there are changes that will transform the competitive landscape of the industry. Deeper analysis of the survey results demonstrates that’s already starting to happen.

Overall market share

Citi retains top spot in Global FX as clients execute more than half electronically for the first time

Regulator hands bank biggest fine yet; Dubai shakes off ‘anything-goes’ tag.

A series of reports by regulators around the German bank’s $2.5 billion fine raise more questions than answers, while serving up embarrassment to remaining senior management.

Michael Spiegel, global head of trade finance and cash management corporates, reveals how the bank has created a strong internal structure of collaboration.

Fans of Jim Reid, Deutsche Bank’s seasoned head of global fundamental credit strategy, enjoy his regular insights on macro strategy delivered in lucid, and often humorous, prose. Euromoney is thoroughly impressed to learn that he has another, so to speak, string to his bow, namely playing the piano.

Is Deutsche Bank contemplating a secret Götterdämmerung trade that would hive off sections of its investment bank and offer senior executives an escape route?

Best private banking services overall

JPMorgan’s $100 million settlement of a currency manipulation lawsuit has sparked a flood of interest from potential new claimants, and marks a new victory in their fight for compensation, according to a leading lawyer involved in negotiations.

Asoka Wöhrmann, global CIO with Deutsche Asset & Wealth Management, shares his macro and asset allocation views for the year ahead.

The results for the Trade Finance Survey indicate a resounding success for Deutsche Bank.

Larry Adams, CIO for Deutsche Bank's Wealth Management Americas, shares his views on how 2014 was full of surprises and how 2015 could be full of risks.

FX market veteran takes up new role developing digital technology and reducing business complexity across Deutsche Bank’s markets platform

Deutsche Bank’s explicit admission in its third-quarter results that higher regulatory costs are hitting the profitability of its global transaction banking business will come as blow to the bank and a warning to others.

View full results index

View full results index

14% rise in responses pushes total to all-time high of 28,000.

For those of you who were dozing on the beach this summer, with your smart-phones switched off, a leading Portuguese bank was restructured in August and no one, least of all the regulators, seems to have forewarned us of this impending disaster.

Pre-tax profits from Deutsche Bank’s global transaction banking business fell 29% in the second quarter compared with a year earlier, as the business – a core part of its growth strategy – was hit by a 'litigation-related charge'.

Despite recent troubles, Deutsche was the outstanding performer in the debt capital markets over the last year.

Deutsche Bank has created a new combined division within its global transaction banking business in an effort to strengthen the service it provides global financial institution, investor and issuer clients.

Deutsche Bank’s third annual survey of global prices was released in May, giving a guide to the cheapest and most expensive places for standard consumer goods. Here is some advice extracted from the data: purchase your Adidas sports shoes in South Africa; shop in India for Levi jeans and your VW Golf convertible; get your iPhone in Japan; rent a car in China; watch your movies in Malaysia; subscribe to the Economist in Indonesia; buy your Mac from Canada; get your smokes in the Philippines.

Deutsche Bank finally managed to sell its Las Vegas casino – The Cosmopolitan – a few days before announcing a €8 billion capital raising that it will use to double down on its bet that it can make a viable return from a full-service global fixed-income business.

Barclays cuts its investment bank in half; Deutsche raises equity to protect market share.

The Las Vegas casino that Deutsche Bank finally managed to sell just before announcing its most recent capital increase – The Cosmopolitan – uses the catchphrase “Just the right amount of wrong” to tempt customers.

Shades of Gwyneth and Chris: Simon Robey and Simon Warshaw consciously uncoupled from Simon Robertson.

Pre-tax income from Deutsche Bank’s global transaction banking (GTB) business grew 15% in the first quarter compared with a year earlier, despite being hit by “intense margin and competitive pressure”.