Deutsche biggest FX player for 6th year-Euromoney

LONDON, May 7 (BestGrowthStock) – Deutsche Bank (DBKGn.DE: ) is the
biggest player in the foreign exchange market (Read more about international currency trading. ) for the sixth year
running, accounting for nearly a fifth of all interbank
business, Euromoney magazine said on Friday.

Deutsche’s share of the market dipped to 18.06 percent this
year from 20.96 percent the previous year, having set a record
21.7 percent in 2008. Deutsche’s share still stood 6.8
percentage points more than its nearest rival, Swiss bank UBS
(UBSN.VX: ).

UBS came second again with 11.3 percent, down from 14.58
percent, while Barclays Capital increased its share in the third
spot to 11.08 percent from 10.45, Euromoney’s poll, considered
an industry benchmark, showed.

The top five banks remained the same, although Citi (C.N: )
beat Royal Bank of Scotland (RBS.L: ) into fourth spot with a 7.69
percent share versus the British bank’s 6.5 percent.

The top five banks’ share of the market slipped to 54.6
percent from 61.5 percent last year, suggesting currency trading
is being spread more across different banks and customers are
diversifying exposures into smaller banks, a trend escalated
after the collapse of Lehman Brothers in 2008.

The combined share of the top 10 fell to 77.16 percent from
79.7 percent.

The survey is viewed by the industry as the most
comprehensive guide to banks’ share of volumes in the overall $3
trillion-a-day FX market.

It canvasses banks’ clients, including thousands of
treasurers, traders and investors around the world. There were
11,716 votes in the poll, Euromoney said.

Ranking % Mkt share (2009 ranking)

1 Deutsche Bank 18.06 (1)

2 UBS 11.30 (2)

3 Barclays Capital 11.08 (3)

4 Citi 7.69 (5)

5 RBS 6.50 (4)

6 JP Morgan 6.35 (6)

7 HSBC 4.55 (7)

8 Credit Suisse 4.44 (9)

9 Goldman Sachs 4.28 (8)

10 Morgan Stanley 2.91 (11)

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(editing by John Stonestreet)

Deutsche biggest FX player for 6th year-Euromoney