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FX Subscription
We look at the methods market participants use to hedge their risks and express their views, as well as the technology they use to access those instruments, the tools and platforms available, and why they choose them.
Our independent third-party analyses form the basis for senior sell-side management to benchmark their client businesses, identify revenue opportunities, assess service quality, and optimize allocation of resources.
The Coalition Investment Bank Index, which tracks the performance of the 12 largest investment banks globally, demonstrated robust performance in FY25, rising 14.5% year over year to $174.7 billion.
New
Lower capital requirements set to unleash bank market-making
Greenwich Report
For the past two years, U.S. global systemically important banks (G-SIBs) have operated under a regulatory overhang. Fearing a punitive Basel III endgame that initially threatened a ~20% hike in capital requirements, the industry built significant...
FX Spotlight: Buy-side traders focused on best ex, algos and NBLPs
Greenwich Report
In 2025, we interviewed 113 buy-side FX traders to better understand their dealer relationships, use of technology and views on nonbank liquidity providers (NBLPs) and other market structure trends. The aggregate results of these conversations make...
Coalition Index for Investment Banking – 3Q25YTD
Greenwich Report
In 3Q25, Coalition Index Investment Banking revenues were up by 18% on a YoY basis.
OMS and EMS innovation: Where providers are investing
Greenwich Report
Professionals at buy-side firms are demanding technological advances and new cutting-edge tools to gain an advantage in the front office. Among a long list of new developments, workflow automation and interoperability stand out as top priorities...
Coalition Index for Transaction Banking – 1H25
Greenwich Report
Transaction Banking revenues remained stable in 1H25, with unchanged performance in Cash Management, and a marginal increase in Trade Finance following the recovery in Trade activity.
Coalition Index for Investment Banking – 1H25
Greenwich Report
1H25 Coalition Index Investment Banking revenues rose 13.3% YoY.
The role of nonbank liquidity providers in FX markets
Greenwich Report
Nonbank liquidity providers (NBLPs) have been active in the foreign-exchange market for at least two decades. Access to credit via the prime brokerage model in the 2000s allowed NBLPs to begin trading spot FX on EBS (Electronic Broking Services) and...