5 October 2023
Deutsche Bank wins best Global FX Provider at Euromoney’s inaugural FX Awards
Deutsche Bank has been recognised as the leading Global FX Provider at the all-new Euromoney FX Awards. In addition to the prestigious title of Global FX Provider, the bank won the following categories:
- Best FX Bank for Europe
- Best FX Bank for Asia-Pacific
- Best Bank for FX Trading
- Best Bank for FX Spot
- Best Bank for FX Forwards/Swaps
To be recognised as the market leading bank for FX across multiple categories in the new award programme is testament to Deutsche Bank’s unwavering commitment to excellence in the foreign exchange market.
“Foreign Exchange has long been a core strength of Deutsche Bank,” said Ram Nayak, Co-Head of the Investment Bank and Head of Fixed Income and Currencies, Deutsche Bank. “We welcome the 2023 results, which affirm our position as the go-to bank for clients looking for FX solutions."
The Euromoney FX Awards represent the next iteration of the Euromoney Foreign Exchange Survey, which for more than 44 years served as a respected benchmark in the wholesale FX market. This year – in place of the survey – a panel of industry experts representing banks, providers, and buy-side corporations rigorously evaluated contenders against a range of measures.
“We have considerably accelerated our progress in emerging markets (EMs), striving to give clients the tools they need to make informed decisions,” explained David Leigh, Head of European FX, Deutsche Bank. He continued, “We provided clients with an EM currency handbook that covers more than 30 currencies – including local market structure and the regulatory backdrop - and have expanded our coverage into EM frontier markets with a new frontier valuation and market driver monitor. The new monitor covers ten currencies across central Asia & Sub-Saharan Africa, and spans eight variables across valuation, policy, credit and liquidity.”
“Without the continued support of our clients, the award wins would not have been possible”
“Through sustained investment in our technology we have been able to produce increasingly sophisticated and innovative solutions for our clients enabling them to execute faster, smarter and in a way that is tailored to their bespoke needs,” Leigh concluded. “Without the continued support of our clients, the award wins would not have been possible. Our partnership approach allows us to be a lot more intimate with clients - and so much more than just a price provider.”
Published on 29 September 2023, the Euromoney awards report comments on Deutsche Bank’s achievement, “Spot market share has increased by 13% over the review period, while the bank’s electronic trading business – designed to deliver low market impact liquidity to clients – increased in volume by 42% year on year, compared with an overall market increase of 26%.
“Client total option notional increased 47% in 2022, compared with a 16% rise in market-wide volumes registered at swap data repositories. E-swap volumes are up 20% year on year, against an overall market increase of 11%, while overall revenue for e-forwards and e-swaps has increased by 250%.”
Further information on Deutsche Bank’s wider FX capability and reasons for the six wins can be found on the Euromoney FX Awards website here.