EUROMONEY DECLARES DEUTSCHE BANK — THE LARGEST FOREIGN EXCHANGE HOUSE IN ASIA
May 21 - 27, 2007
Deutsche Bank continues to be the largest foreign exchange (FX) trading bank in Asia as well as globally, according to the definitive annual global market share survey conducted by respected capital markets publication, Euromoney.
According to Fahim Ahmed, Head of Global Markets for Deutsche Bank in Pakistan the Deutsche Bank's FX sales and trading desk provides investors and companies in Pakistan with a wide range of innovative foreign exchange services.
He said "Our local team is being continually strengthened with new hires and technology and will continue to contribute towards development of the local and regional currency markets".
In the 2007 Euromoney survey, Deutsche Bank ranked in the top two for all Asian currencies in the 'best for currencies' section and was ranked number one for: 'most innovative and original research and strategy'; 'emerging markets research and strategy'; and FX structured products. The Bank also has the largest market share for electronic FX trading platforms globally, with Deutsche's autobahnFX platform capturing 34.69% of this market.
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 73,114 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
According to the 2007 survey, which gathers information from over 8,650 institutional and corporate foreign exchange clients globally, Deutsche Bank is Asia's leading FX trading house with 21.74% market share ñ an increase of 3.52% over 2006. UBS finished in second place.
Globally, Deutsche Bank accounts for 19.3% of the FX market, up from 19.26% in the 2006 survey. This is ahead of the second-ranked bank, UBS, and Citigroup, which was third.
Peter Clarke, Head of Foreign Exchange Sales, Asia, at Deutsche Bank, says the Bank's local presence in 13 markets across Asia allows Deutsche to provide an enhanced level of service to its clients, whose FX needs are growing.
"Trading volumes in Asia's FX markets continue to grow. Investors are increasingly using FX as an asset class to generate returns, while seeking to manage currency exposures on their growing Asian equity investments. Increased levels of trade inside and outside the region has also seen more companies seek ways to manage currency exposures on the goods they buy and sell.
"Deutsche Bank's commitment to its Asian business, in terms of investment in people, technology and by providing liquidity to local currency markets, is key to Deutsche remaining the preferred provider of FX products and services in the region", he said.