XTX Markets only non-bank to place in top 10 for global FX market share

London based XTX Markets today found out that it ranks 9th in the overall global FX market share ranking in the annual Euromoney FX survey for 2016. XTX has also ranked 4th for global FX Spot market share and 3rd for global FX Spot e-trading market share. This is significant because XTX is the only non-bank to make the list. XTX Markets is a leading independent electronic trading firm partnering with exchanges and e-trading venues globally to provide liquidity in the FX/Commodity/Derivatives & Equity markets.

Zar Amrolia, Co-CEO at XTX Markets, stated: “This is great news for XTX: a  recognition of our efforts of focusing on our B2B clients and servicing them extremely well. It also demonstrates the growing importance of a quantitative research driven approach to electronic market-making. With the opening of our Singapore and New York offices shortly, we look forward to this growth continuing organically over the coming years.”

Other notables from the 2016 Euromoney Survey show that Citi holds the top spot as the #1 currency trader and Deutsche Bank, after topping the Euromoney ranking for 9 years, slips to #4.

The following is a table of the top 10 currency traders by market share from Euromoney’s 2016 survey, Courtesy; Bloomberg.

Table of the top 10 currency traders by market share from Euromoney’s 2016 survey. Courtesy: Bloomberg.

Zar Amrolia, Co-CEO at XTX Markets, continued: “We absolutely do not replace banks: banks will always be crucial for their full-service client relationships. We simply help the banks that we partner with do one part of their value chain more efficiently and profitably.

We are a real market-maker, meaning we hold risk – typically for more than 10 minutes – and do not back-to-back hedge with banks or on primary markets. We are also not in the speed game. This is what separates us from many non-banks.

Being a Top 3 e-spot LP is true testament to our technology strategy of focusing on a few products and being truly excellent in them. Offering non-last look feeds, publishing our risk holding times and being transparent about our desire for fairer markets has also helped. This result demonstrates that this approach is working as we continue to grow our volumes this year.”

View the full results of the Euromoney FX Survey 2016 here.

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