Commonwealth Bank climbs global rankings in Euromoney FX Survey 2022

Commonwealth Bank of Australia (CBA) was amongst the biggest overall gainers in the Euromoney FX Survey 2022 and the top ranked Australian bank for Real Money investors and FX Swaps.

Published this month, the magazine’s annual survey of the global wholesale foreign exchange market ranks banks and service providers on transaction volume and market share.

CBA rose to 33^rd place from 56^th in the survey’s overall global ranking and climbed to 16^th place from 31^st among global banks for the Real Money investor category, which ranks institutional investment flows. CBA also grew its global market share in FX Swaps, rising to 18^th place from 33^rd.

Mitch Grosser, Global Head of Trading in CBA’s Institutional Banking & Markets division, said: “We continue to invest in our technology platform and people to improve our offering and these results reflect the initial benefits of this focus, with more exciting developments to come.

“Our sales teams are also focused on working with clients to provide liquidity and tight pricing in difficult and volatile market conditions, harnessing CBA’s connectivity across international finance centres and strength in major currency pairs,” said Mr Grosser.

“While these survey results are based on larger client business, we have also achieved significant growth across our Business Banking customer segment. Continual investment in our FX offering and driving increased connectivity across all group platforms and propositions has helped to attract a significant increase in both volumes and client numbers across the full client spectrum.”

Anthony Kritkides, CBA’s Head of Institutional Sales, commented: “We’ve continued to develop our client offering in response to key FX trends like the ongoing move to best execution and electronic trading, and capital pricing in FX Swaps and long-term forwards.

“Creating a single, global institutional sales team with holistic coverage across FX, fixed income and rates, has strengthened our relationships with Real Money, Central Bank and Hedge Fund clients. FX Swap pricing and volumes have had a big impact on our North American ranking, which has in turn boosted our overall global position in the survey.”

The Euromoney FX Survey 2022 results can be accessed here