Bangkok--May 4--Weber Shandwick
Deutsche Bank has become the largest foreign exchange trading bank in Asia, and globally, according to a major global market share survey undertaken by respected capital markets magazine, Euromoney.
The Euromoney's 2005 survey gathered information from nearly 4,500 wholesale foreign exchange clients globally, including corporate treasurers and fund managers.
According to the results, Deutsche Bank is the pre-eminent foreign exchange trading house in Asia with 17.04% market share. It is well ahead of its local competitors. The Euromoney poll reported Citigroup with an Asian market share of 12.58%, while UBS and HSBC had 11.22% and 10.05% respectively.
Deutsche Bank's overall global foreign exchange market share now stands at 16.72%, reportedly four per cent ahead of UBS on 12.47% and more than double that of Citigroup, which Euromoney said is 7.5%.
According to Singapore-based Clifford Cheah, Head of Foreign Exchange Asia, Deutsche Bank's strong market share in Asia is a reflection of the commitment it makes to individual countries throughout the region.
"Deutsche Bank is one of the few global players which has committed people and technology to each local market in Asia and is focused on development of strong market liquidity. With FX trading desks in 13 countries in Asia, the Euromoney award recognizes the contribution Deutsche Bank makes to foreign exchange in the region."
Mr Rags Raghaven, Chief Country Officer of Thailand, said: "Deutsche Bank's FX sales and trading desk delivers a wide range of innovative foreign exchange services to local clients in Thailand from research through to trade execution with experts based in country. We aim to bring innovation to clients
and work closely with regulators, industry bodies and clients to develop and promote new foreign exchange product and market development."
In the 2005 Euromoney survey, Deutsche Bank ranked in the top four for all Asian currencies in the "best for currencies section", including: Yen (all cross currencies), the Chinese Yuan, the HK dollar, the Singapore Dollar, the Australian Dollar, the Thai Baht, the Korean Won, the New Taiwan Dollar, the
Indonesian Rupiah, the Philippine Peso and the Indian Rupee. Deutsche Bank also received accolades as the leading e-trading proprietary platform, and for the Best Foreign Exchange research house in economic fundamentals.
For furthe r information please contact: Terence Ng, +65 6423 8217
About Deutsche Bank
With Euro 840 billion in assets and 65,400 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and
people.Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private & business banking franchise in Germany and other selected countries in Continental Europe. In Asia Pacific, Deutsche Bank has over 45 offices in 16 countries with more than 6,500 staff.
www.deutsche-bank.com
Deutsche Bank AG, Asia Pacific Head Office, Communications and Marketing, Telephone: 65 6423 8001 End.