The turbulence in the FX market is shown by the Euromoney magazine’s results of their 40th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets. The survey polled 1,792 valid responses from consumers of FX liquidity representing total FX consumption of $46.87 trillion* in 2017.

Top 10 overall market share

Source & Copyright©2018 - Euromoney

Other key overall findings were: 

• Among the top 10, only three firms retain their 2017 positions
• Deutsche Bank continues a long-term decline in market share 
• XTX Markets jumps from 12th to 3rd place
• Overall market share among the top five banks decreases marginally to 40.09%, from 41.05% in 2017 There are now six non-bank liquidity providers in the top 50, compared with seven in 2017 

Trading platforms

The survey showed that XTX was the clear leader with 18.5% market share:

Source & Copyright©2018 - Euromoney

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* The 2018 rankings are based on swaps-adjusted volumes that exclude volumes from short-dated swaps. 

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CTMfile take: Congratulations to J.P. Morgan and XTX.