HSBC wins accolades in Euromoney survey

Euromoney's 2005 global foreign exchange survey has shown that HSBC made significant progress in the industry over the past 12 months.

The survey, regarded as the benchmark for the foreign exchange industry around the world, this year interviewed 4,492 clients.

It showed that HSBC is in first place by market share in the following foreign exchange markets: euro/sterling, up from fourth place; US dollar/sterling, up from second place and forwards of major (G20) currencies, up from fourth place. HSBC also placed in first/second place in all foreign exchange advisory categories and in second place in vanilla and exotic options.

In terms of foreign exchange, HSBC is now ranked in fourth place by market share globally, up from12th place in 2002.

In the Euromoney survey, HSBC also placed first as the best foreign exchange provider in London and Hong Kong and the bank's rating also improved in Tokyo and Paris.