Features : World’s Best Foreign Exchange Providers 2009


Global Finance selects the leaders in the world’s biggest financial market.

features_d1 The foreign exchange market has continued to thrive throughout the global financial crisis, providing some welcome profits for beleaguered financial institutions. Average daily turnover has surpassed $3 trillion in the world’s biggest financial market, with online trading systems in particular experiencing a dramatic rise in volume. Increased volatility in the market and big shifts in cross-border portfolio flows have spurred the growth in trading.

The best foreign exchange banks are those institutions that provide fast, reliable and cost-effective services to global businesses and investors, as well as advice and innovative products to meet the specific needs of their increasingly diverse range of customers.

Global Finance selected Deutsche Bank as the global winner. We also chose the leading foreign exchange banks in 82 countries and regions, as well as the best online trading systems, including bank-owned, independent and retail trading systems. In addition, we selected the best bank for foreign exchange research, as well as separate award winners for fundamental research, technical research, currency forecasts, and strategy and hedging.

With input from industry analysts, corporate executives and technology experts, Global Finance selected the winners based on objective and subjective factors. Our criteria included transaction volume, market share, global coverage, customer service, competitive pricing and technology.

Foreign exchange is likely to remain an important profit center for banks and a closely watched market in the months ahead, as the spreading global economic slowdown heightens fears of competitive devaluations, especially in Asia, where China has recently slowed the rise of the yuan to ease the pain being felt by its exporters. Market participants also are anxious to see the unfolding dollar policy of the incoming US administration. It seems certain that the foreign exchange market is due for some interesting times.

  Deutsche Bank
North America Citi
Latin America Citi
Western Europe Deutsche Bank
Central and Eastern Europe UniCredit
Scandinavia Handelsbanken Capital
Middle East Ahli United Bank
Africa Standard Chartered Bank
Asia-Pacific HSBC
Southeast Asia DBS
Angola BES Angola
Argentina Citi
Armenia Converse Bank
Australia Commonwealth Bank of Australia
Austria Bank Austria
Bahrain Ahli United Bank
Belarus Priorbank
Belgium KBC Bank
Brazil Itau
Canada Scotia Capital
Chile Banco Santander Chile
China Bank of China
Colombia Bancolombia
Costa Rica Scotiabank Costa Rica
Cyprus Bank of Cyprus
Czech Republic CSOB
Denmark Danske Bank
Ecuador Citi
Egypt Commercial International Bank
El Salvador Citi
Estonia Hansabank
France BNP Paribas
Gambia Standard Chartered Gambia
Georgia Bank of Georgia
Germany Deutsche Bank
Greece Eurobank EFG
Guatemala Banco Industrial
Hong Kong HSBC
Hungary OTP Bank
India HDFC Bank
Israel Bank Hapoalim
Italy UniCredit
Scotiabank Jamaica
Japan Mitsubishi UFJ Financial
Jordan Arab Bank
Kazakhstan BTA Bank
Kuwait National Bank of Kuwait
Latvia SEB Banka
Lebanon BLOM Bank
Lithuania SEB Bank
Malaysia Maybank
Mexico Banamex
Moldova Moldova Agroindbank
The Netherlands Rabobank
New Zealand Westpac Banking
Nigeria First Bank of Nigeria
Norway DnB NOR
Oman BankMuscat
Pakistan Habib Bank
Peru Scotiabank Peru
Poland Bank Pekao
Portugal Millennium bcp
Qatar Qatar National Bank
Russia VTB
Saudi Arabia Samba Financial Group
Singapore DBS
Slovak Republic CSOB
Slovenia Nova Ljubljanska Banka
South Africa Standard Bank
South Korea Korea Exchange Bank
Spain Santander
Sweden Handelsbanken Capital Markets
Switzerland Credit Suisse
Taiwan Chinatrust Commercial Bank
Thaliand Siam Commercial Bank
Turkey Akbank
UAE Emirates NBD
Ukraine PrivatBank
United Kingdom RBS
United States Citi
Honorable Mention United Stated The Bank of New York Mellon
Uruguay Citi
Venezuela Banco Mercantil
Vietnam Sacombank
  The Bank of New York Mellon
  Brown Brothers Harriman
  The Bank of New York Mellon
  The Bank of New York Mellon
  Deutsche Bank
Best Bank State Street’s FX Connect
Best Independant FXall
Best Retail Interbank fx

Gordon Platt