Bloomberg News reports that Citigroup took a 12.9% market share, followed by JPMorgan and UBS. Deutsche Bank, which was second in the rankings last year, fell to fourth place, Euromoney said in a statement. Trading volume fell 23% from last year, and the top five banks’ share of the market plummeted to an all-time low.
"There have been unprecedented shifts in the overall rankings," Euromoney said. "The biggest change in the rankings this year is the decline of the combined market share of the top five global banks."
The latest result highlights that regulations and the intensifying competition from non-traditional liquidity providers are hurting trading revenue among banks. Banks are losing businesses to non-bank liquidity providers. XTX Markets, a London-based electronic market maker, ranked 9th in the survey in its debut.
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