Citi and J.P. Morgan are the two major global players when it come to electronic forex trading, which currently accounts for 80% of the global FX trading volume by customers, reveals the latest study of Greenwich Associates – a US market intelligence company.
HSBC also stands along Citi and J.P. Morgan when it comes to overall emerging markets currency trading share.
On top of that Citi defends its title as the world’s top FX dealer to global corporate accounts, with J.P. Morgan and HSBC shearing the second place, followed by Barclays and Bank of America Merrill Lynch.
The other forex dealers in the 2019 Greenwich Leaders in Global FX Market Share are UBS, Deutsche Bank and Goldman Sachs.
Citi and J.P. Morgan also share the spotlight as Greenwich Quality Leaders in Global FX Service and Global FX Trading. In Global FX Sales, however the 2019 Greenwich Quality Leader is Bank of America Merrill Lynch.
Greenwich Associates conducted interviews with 2369 users of foreign exchange globally, of which 1491 top-tier accounts, at large corporations and financial institutions,
To be considered top tier, a firm must be a central bank, a government agency, a hedge fund, a fund manager, an FT100 global firm, a firm with reported trading volume of more than 10 billion USD, or a firm with reported sales of more than 5 billion USD.
Interviews were conducted in North America, Latin America, Europe, Asia, and Japan between September and December 2018.