Leveraging its prominent position as a facilitator of trade between Germany and frontier markets, Commerzbank has established a strong network of correspondent banks and institutional clients in these regions.

JPMorgan has taken a multifaceted approach to enhancing its FX business in North America, with a focus on automation, client customization and technological upgrades across various business lines.

JPMorgan has continued to demonstrate innovation and growth in FX options by enhancing product offerings, expanding platform integrations and strengthening client engagement. The results speak for themselves – JPMorgan’s market share for FX options direct client execution rose by 7% year-on-year.

TBC Bank continued to dominate Georgia’s corporate FX market, registering a 41.1% share in FX operations for business entities.

Despite the significant depreciation of the Egyptian pound, which saw its value nearly halved, CIB outperformed competitors in FX during the review period, successfully managing its liquidity and FX positions. The bank strategically balanced the expansion of its FX and trade finance business while meeting its FX obligations.

Wells Fargo has reached important milestones by expanding its global pricing distribution network and platform connectivity.

Stanbic Bank Tanzania’s (SBT) FX operations experienced impressive growth, with FX revenue doubling year-over-year.

Leveraging its deep knowledge of local markets in CEE, coupled with global product expertise, UniCredit dominated the regional FX market. The bank’s extensive network enables access to a broad suite of FX products, serving a diverse range of clients, including multinational corporations, financial institutions, local corporates and retail customers. This broad reach helps clients of all sizes optimize their FX strategies, whether in local markets or on the global stage.

Citibanamex, with over 139 years of history in Mexico, is a leading player in the FX business. The bank offers FX services for a diverse set of currencies, including the MXN, USD and EUR. It is known for its ability to deliver complex FX solutions through an extensive product range such as FX spot, forwards, swaps and options, supported by a robust team of over 200 professionals and coverage across 1,280 branches.

UBS has continued to evolve the FX offering on its UBS Neo platform over the past four years, with the bank making significant strategic investments in the last 12 months that further refine the offering.

Over 2023, Sacombank’s FX division played a crucial role in the bank's strategy, according to its own records, contributing 10%-20% of its pre-tax profit. Despite global economic challenges including high inflation and geopolitical instability, Sacombank focused on supporting businesses affected by the rising USD/VND exchange rate.

DBS is a leading financial services group in Asia, operating in 19 markets with headquarters in Singapore. The bank's dominant presence in Asia contributes to its competitive advantage in FX for client services, innovative digital solutions and as a leading data provider.

Banco Santander expanded its global infrastructure-based FX eBooks to Latin America during the review period, efficiently utilizing liquidity across regions and optimizing pricing for clients.

HSBC has established itself as a leader in the corporate foreign exchange space by continuously developing innovative solutions. The bank provides liquidity across a range of channels and has consistently ranked in the top three on external platforms with a heavy corporate presence.