Citigroup Named World's Largest Currency Dealer For 2nd-straight Year

Citigroup has been named the largest bank for currency trading volumes for the second year in a row, according to an annual ranking published by Euromoney Institutional Investor. The bank controls about 16% of transaction flows in the global currency market, which sees about $5.3 trillion-worth of turnover on a daily basis, according to the Bank of International Settlements. Deutsche Bank came in second, with just under 15% of trading volume. Overall, the top five banks have ceded some of their market share. They handled 53% of trading volume last year, down from 60% the year before.