Top five dealers close ranks

A consolidating industry is increasingly directing its business to the top players in forex, according to FX Week’s 2002 survey -- the biggest ever undertaken in foreign exchange.

Citigroup, UBS Warburg, Deutsche Bank, HSBC and ABN Amro are the chief beneficiaries, the survey of over 1,000 market participants showed. These banks dominate the rankings in all 20 banking categories, assessing the top banks in FX by product, region, currency pair and in research and e-trading.

Apart from Royal