Top 10 currency traders
Top 10 currency traders
| Rank | Name | Market share |
|---|---|---|
| 1 |  Deutsche Bank | 14.57% |
| 2 |  Citi | 12.26% |
| 3 |  Barclays Investment Bank | 10.95% |
| 4 |  UBS AG | 10.48% |
| 5 | HSBC | 6.72% |
| 6 | JPMorgan | 6.6% |
| 7 | Royal Bank of Scotland | 5.86% |
| 8 | Credit Suisse | 4.68% |
| 9 | Morgan Stanley | 3.52% |
| 10 | Goldman Sachs | 3.12% |
Foreign exchange trading increased by 20% between April 2007 and April 2010 and has more than doubled since 2004. The increase in turnover is due to a number of factors: the growing importance of foreign exchange as an asset class, the increased trading activity of high-frequency traders, and the emergence of retail investors as an important market segment. The growth of electronic execution and the diverse selection of execution venues has lowered transaction costs, increased market liquidity, and attracted greater participation from many customer types. In particular, electronic trading via online portals has made it easier for retail traders to trade in the foreign exchange market. By 2010, retail trading is estimated to account for up to 10% of spot turnover, or $150 billion per day (see retail foreign exchange platform).
Foreign exchange is an over-the-counter market where brokers/dealers negotiate directly with one another, so there is no central exchange or clearing house. The biggest geographic trading center is the United Kingdom, primarily London, which according to The City UK estimates has increased its share of global turnover in traditional transactions from 34.6% in April 2007 to 36.7% in April 2010. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. For instance, when the International Monetary Fund calculates the value of its special drawing rights every day, they use the London market prices at noon that day.
Category: Foreign exchange market, Forex History
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