The May 2014 [B][I]EuroMoney[/I] FX Survey[/B] has been released. It lists the world’s top 10 banks according to currency trading volume. These giant investment banks are the 10 largest banks in the interbank network. Together they transact almost 80% of the world’s foreign exchange trading volume.
Here are the [B]Top 10 Banks,[/B] listed in order according to current market share, as reported by [I]EuroMoney.[/I] Each bank’s country of domicile, current market share, and change in market share from 2013 to 2014 is shown.
[B]CitiGroup[/B] (USA) — 16.04% — gained 1.95% in market share from 2013
[B]Deutsche Bank[/B] (Germany) — 15.67% — gained 0.49% in market share from 2013
[B]Barclays Investment Bank[/B] (UK) — 10.91% — gained 0.67% in market share from 2013
[B]UBS AG[/B] (Switzerland) — 10.88% — gained 0.77% in market share from 2013
[B]HSBC[/B] (UK) — 7.12% — gained 0.19% in market share from 2013
[B]JPMorgan[/B] (USA) — 5.55% — lost 0.52% in market share from 2013
[B]Bank of America Merrill Lynch[/B] (USA) — 4.38% — gained 1.3% in market share from 2013
[B]Royal Bank of Scotland[/B] (UK) — 3.25% — lost 2.37% in market share from 2013
[B]BNP Paribas[/B] (France) — 3.10% — not listed among the top 10 in 2013
[B]Goldman Sachs[/B] (USA) — 2.53% — not listed among the top 10 in 2013
The top 6 banks in 2013 are still the top 6 in 2014, but [B]CitiGroup[/B] has replaced [B]Deutsche Bank[/B] in the #1 spot.
[B]BNP Paribas[/B] (#9) and [B]Goldman Sachs[/B] (#10) have joined the Top 10 in 2014, while [B]Credit Suisse[/B] (previously #8) and [B]Morgan Stanley[/B] (previously #9) have fallen off the Top 10 list.
Total market share of the Top 10 banks remains virtually unchanged from 2013 to 2014 (from 78.98% in 2013 to 79.43% in 2014), but the top 5 banks combined have [I]gained[/I] total market share (from 57.36% to 60.62%) at the expense of the bottom 5 banks.