Standard Bank has been awarded the Best Bank for South African Rand and the Best Bank for African Currencies excluding the Rand, in FX Week’s 2016 survey of the global foreign exchange industry.
The FX Week Best Banks Awards are the benchmark for performance in the global FX industry and the most accurate indicator of which institutions are leading the market, according to banks, corporate treasurers and investors.
Richard de Roos, Standard Bank’s Head of Foreign Exchange, said the awards are a recognition of the bank’s relevance to the market and also validates the bank’s strategy to leverage its dominant position in the local franchise markets.
Roos said: “We are very pleased to receive this recognition for Standard Bank. These are premier awards for currency market makers across the continent’s foreign exchange trading industry, and the stature and quality of the participants in this survey certainly make these awards extremely relevant and an achievement for which Standard Bank is duly proud.”
The FX Week Best Banks awards were decided following a qualitative survey, which polled industry participants to determine their ranking of the most relevant and significant market makers in the currency trading universe.
This is the first year for the accolade for Best Bank for African Currencies excluding the Rand, which was awarded to Standard Bank.