Barclays Plc (BARC) bested Deutsche Bank (DB:US) AG as the world’s largest currency trader by market share as of November, according to a Greenwich Associates survey.
Barclays, the U.K.’s second-biggest bank by assets, controlled 10.5 percent of the foreign-exchange market in the global survey conducted between September and November 2011, followed by Deutsche Bank with 9.8 percent, Citigroup (C:US) Inc. with 9.3 percent, UBS AG (UBSN) with 8.2 percent, HSBC Holdings Plc (HSBA) with 7.6 percent and JPMorgan Chase & Co. (JPM:US) with 7.5 percent. Deutsche Bank held the top spot in the previous study, with 10.7 percent of global flows.
Citigroup was the No. 1 dealer for corporate entities while Barclays led among financial-service institutions such as hedge funds and insurance companies.
Greenwich Associates, a research company based in Stamford, Connecticut, tracks foreign-exchange trading volume among 1,632 end-user corporate and institutional customers. Volume figures calculated in its research exclude inter-bank and other trades between market counterparties. Greenwich Associates said it also generally excludes short dated roll-over trades in its official customer trading calculations.
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