Barclays Capital and Deutsche Bank have built Europe’s largest fixed-income trading franchises, with each firm claiming more than 10% of institutional trading volume captured across the region in Greenwich Associates’ annual research.
The two firms – along with JPMorgan – were named the winners of Greenwich Associates’ 2007 Excellence Awards in European Fixed Income.
As part if its 2007 European Fixed-Income Investors study, Greenwich Associates asked more than 1,400 institutional investors to name the dealers they use for their fixed-income trading business, to indicate how much of their total trading business they allocate to each dealer and to rate the quality of service each dealer delivers. Based on the results of this research, Greenwich Associates compiles its Dealer Market Share Rankings, and identifies the winners of its Fixed-Income Excellence Awards.
Award winners are determined by each firm’s performance on the Greenwich Quality Index, a statistical aggregation of client ratings of dealer service quality across all fixed-income products and spanning a variety of service categories in sales, trading and research.
“Our 2007 results reveal a strong correlation between the quality of service that dealers deliver to institutional clients and an ability to win market share in European fixed-income trading. The three firms with the biggest market shares – Barclays Capital, Deutsche Bank and JPMorgan – also take home Greenwich Excellence Awards in two of the three major fixed-income product categories, and in ABS the awards go to Barclays, along with Lehman Brothers,” says Frank Feenstra Greenwich Associates consultant.