銀行投資與資本市場分析報告(pdf 40頁)(英文版)

FOREIGN EXCHANGE TRADING HAS INCREASED
Highly volatile global currency markets may provide industry with further growth opportunities
— Average daily foreign exchange trading volume expected to increase to $1.5 trillion
Foreign exchange business is highly concentrated and consolidation within the industry is increasing
— Top three players, UBS, Citigroup and Deutsche Bank accounted for 34 percent of trading
— The leading foreign exchange trading houses earned over $1 billion each last year with estimated pre-tax profit margins of around 40 percent
Market shares in different client segments show variances in business models
— Citigroup is the clear market leader with corporate customers
— Deutsche Bank and UBShave focused successfully on institutional clients -especially Deutsche Bank’s focus on hedge funds aligned them with one of the fastest growing and most profitable market segments

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