Citigroup Inc. cut Deutsche Bank AG’s lead as the biggest currency trader in a Euromoney Institutional Investor Plc poll, boosted by its larger share of emerging-market transactions.
Citigroup came second in the annual rankings with a 14.90 percent market share, trailing that of Deutsche Bank by 0.28 percentage point, the second-slimmest margin since the poll began in 1976, Euromoney said in an e-mailed statement. The New York-based lender had a 15.64 percent share of emerging-market foreign exchange, versus Deutsche Bank’s 13.46 percent. The top nine held their overall positions from last year and Bank of America Merrill Lynch took Goldman Sachs Group Inc.’s 10th spot.
Deutsche Bank’s market share climbed from 14.57 percent last year, and the top five banks grew their combined share, accounting for 57 percent of trading from 55 percent in 2012.