Search results for

Results will be published in the July edition of Euromoney magazine and on Euromoney.com July 11 following the announcements at the global awards ceremony.

The Euromoney Foreign Exchange survey is the most comprehensive quantitative and qualitative annual study available on the FX markets. The FX market is an unregulated OTC market and there are no reliable, aggregated, global statistics made available against which to benchmark the survey outside the BIS studies. The survey also excludes a number of categories of market participant, which means that the total volume reported by the survey is not and not intended to be an accurate reflection of total global foreign exchange activity. Euromoney aims to capture client price-taking activity only and not any interbank/interdealer broking volumes. However, given the geographical and participant-type spread represented by the survey, Euromoney believes that the survey provides an accurate proxy for trends in the major areas of activity polled and accurately discerns the relative performance of the banks ranked, particularly over periods of two or more years. The 2013 survey launched on the Thursday 17th January and closed Friday 22nd February - and represents the previous calendar years trading (2012). All voting is carried out electronically via a secure, dedicated data collection website. Respondents can amend votes prior to the closing deadline by re-entering the survey form via the link.

Measures introduced by China’s State Administration of Foreign Exchange (SAFE) this week to stem speculative inflows of capital into the country could be a first step towards further liberalization of Beijing’s currency policy.

Fewer and fewer banks can still claim to compete as full-service foreign exchange providers on a global basis.

The Euromoney Foreign Exchange survey is the most comprehensive quantitative and qualitative annual study available on the FX markets.

As the leading FX banks increase their grip on end-user volumes, their customers should take note of the banks’ own aversion to high market share among key providers.

For all the fragmentation in the FX market, the top four banks further consolidated their dominance of customer business, according to the 2013 Euromoney foreign exchange survey. As volumes rise again in FX, volatility returns and banks’ earnings from it recover, margins are still compressing. Customers are focused on cutting transaction costs. Banks face big demands on scarce IT resources.

Fragmentation and phantom liquidity bedevil the foreign exchange market with its proliferation of trading venues. Investors and corporates want to see the true depth of the market and what amounts they can really trade at the enticing prices being flashed at them. In a low-return world, these end-users are getting rigorous on trading cost analysis. Banks are developing new technology to respond.