Deutsche Bank AG was dethroned after a nine-year reign as the world’s biggest currency trader by Citigroup Inc., a Euromoney Institutional Investor Plc survey showed, as subdued volatility depressed trading in the euro.
Citigroup, which last led the ranking in 2002, claimed 16.04 percent market share, beating Deutsche Bank’s 15.67 percent, Euromoney said in a statement. The U.S. bank trailed its German rival by just 0.28 percentage point in the 2013 poll, the second-slimmest margin since it began in 1976. Barclays Plc was the third-largest trader, with a 10.91 percent share.
JPMorgan Chase & Co.’s Group of Seven FX Volatility Index, a measure of currency fluctuations, touched 6.00 percent today, the least since 2007, and down from last year’s peak of 11.96 percent set on June 24.