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Deutsche triumphs as FX powerhouse

HSBC maintains its ranking in third place but a further upset sees the technology prowess of Barclays Capital push it ahead of Swiss dealer UBS to rank fourth in this year's industry survey. The top dealers dominate the rankings in all 25 banking categories, demonstrating a commitment to serve customers and invest in the business despite the challenges posed by the crisis.

Common is their global reach, and Robert Mandeno, global head of FX spot and electronic commerce at Deutsche Bank in London

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Best Asia FX spot house: UBS

Thanks to its significant investments to boost spot liquidity in Apac, UBS was able to continue quoting competitive prices throughout bouts of extreme volatility in the latter part of 2024 and first quarter of 2025

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