UBS ousts Citi from top spot

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The Swiss bank knocked Citigroup off the top spot for the first time since the awards were launched in 1995.

And with Deutsche Bank second, Citigroup has been relegated to third place in our "Best Banks in FX" awards, which will be presented tomorrow night (November 25) in London.

Technology and research continue to be the key battlegrounds for banks fighting to control the top five, as commoditisation of prices in vanilla FX levels the playing field.

Crucially, in these categories, UBS also