Deutsche Bank captures 25% of Asian FX trading

Deutsche Bank announced it is responsible for nearly 25% of all foreign exchange market turnover in Asia, according to the definitive annual FX survey conducted by respected capital markets publication, Euromoney.

The result is stark reflection of the trust that Deutsche Bank has earned from its clients in Sri Lanka and across Asia, especially as the weak US dollar, rising oil prices and strengthening regional currencies has meant that Sri Lankan institutions have been actively seeking currency and broader hedging advice over the past 12 months.

According to the 2008 Euromoney FX Poll, which gathers information from over 9,800 corporate and institutional foreign exchange clients globally, Deutsche Bank's market share in Asia grew to 24.08% from 21.74% in 2007.

Chief Country Officer for Deutsche Bank in Sri Lanka Rohan Rodrigo, says Deutsche Bank has increased market share this year as its clients turned to the Bank for currency solutions during the recent period of high market volatility.

"Companies and investors in Sri Lanka have faced a challenging 12 months due to the extreme weakening of the US dollar and the rising cost of many commodities. They have therefore been actively looking for foreign exchange solutions and it's been a great privilege to have provided this advice".

Head of Foreign Exchange Sales for Asia at Deutsche Bank Peter Clarke, says that recent market volatility has meant clients have required the close support of an experienced and locally-based partner.

Deutsche Bank has a local trading floor in Sri Lanka and is a leading provider of liquidity to the Sri Lankan financial system, we have been particularly relevant to local companies and investors.

Our proximity and experience makes Deutsche Bank a strong partner during extreme market events, as witnessed over the past 12 months" he said.

The Euromoney 2008 FX poll also found that Deutsche Bank was the leading FX house globally, accounting for 21.70% of all market turnover, up from 19.3% in the 2007 survey. The survey reported a 40% increase in global market foreign exchange turnover in 2008, up from USD125 trillion in the 2007 survey to USD175 trillion in 2008.