Annual Treasury & FX Awards
Excellence from market data sourcing, price construction, distribution to trade execution
As retail, corporate and commercial banking clients embrace fintech, leading ‘bricks and mortar’ FX houses across Asia have continued to raise their game, fortifying their market share
The Annual Treasury & FX Awards therefore comes at an important crossroads for the FX industry in Asia.
FX houses will not only be judged against their performance over the last 12 months but also how robust the liquidity and capital positions are, given the dramatic changes in the operating environment over the last 2 years.
We have thus, broadened the depth of our awards and tightened its eligibility among leading FX houses in Asia.
IMPORTANT NOTES:
- The key is to show how your bank has leveraged on the latest range of available technology to leapfrog its competitors by offering an integrated, digital experience for your FX, treasury & derivatives products and banking solutions, all the while in pursuit of operational risk and compliance excellence.
- All pitches, nominations and supporting materials must be received no later than 4 May 2026 (close of business at 6pm – Hong Kong time). No extensions to this date will be granted and incomplete entries will not be considered.
- Please submit your pitches preferably in PDF format. However, either MS Word & MS PowerPoint files are acceptable too.
- The awards review period could be your last financial year (e.g., 1 April 2025 – 31 March 2026, etc.,).
- There is no limit as to how many award categories you can pitch for, as a bank. However, we advise you to save individual product award categories in separate files rather than have all product award categories in a single PDF, Word, PP file. While most deals, financial reports and figures submitted are likely to be denominated in your local currency, please also submit the equivalent amount in USD for referencing purpose (based on the FX rate at the time of the transaction).
POLL:
Cite three separate names of a SME, Corporate client & FI which has an impressive, dynamic and tactical hedging FX strategy (This question forms part of a poll we are conducting. The SME, Corporate & FI receiving, most number of votes by the poll universe will be rated the winner.)
| 1. Best SME client with the best hedging FX strategy: ________________________________________ |
| 2. Best Corporate client with the best hedging FX strategy: _________________________________________ |
| 3. Best FI client with the best hedging FX strategy: _________________________________________ |
The following awards categories are open exclusively to local banks in ASEAN that are key market makers in their respective local currency along with other key Asian currencies and FX products.
Ranging from institutional investors, FIs, government agencies, private banking, large and listed corporates, MNCs, SMEs and a cross section of consumer clients, the aim of these awards is to recognise the niche FX & Treasury skillsets local banks in the Southeast Asian region bring to the fore.
CATEGORIES:
Indonesia, Malaysia, Philippines, Singapore, Thailand, & Vietnam
| Best FX Bank for Structured Hedging Solutions and Proprietary Trading Ideas |
| Best FX Bank for Hedging requirements (Onshore Middle Market/SMEs) – Cross Currency Swap (CCS), Interest Rate Swap (IRS), Forward & Options |
| Best FX Bank for Hedging requirements (Corporates & FIs) – Cross Currency Swap (CCS), Interest Rate Swap (IRS), Forward & Options |
| Best FX Bank for Structured Products: Commodities, Credit, Equity, FX and Multi-Asset |
| Best FX Bank with Structures Embedded with Trigger Events |
| Best FX Bank for Money Market Products |
| Best FX Bank for Interest Rates, FX Research and Market Coverage |
| Best Emerging Asia Currency Forecasters (April 2025-March 2026) |
| Best Corporate Treasury Sales and Structuring Team |
| Best SME with a dynamic tactical hedging FX strategy |
| Best FI with a dynamic tactical hedging FX strategy |
| Best Corporate with a dynamic tactical hedging FX strategy |
| Best FX Bank for Retail Clients |
CRITERIA:
The purpose of the following questions is to query the breadth and depth of a given bank’s suite of FX products and services. Ranging from trading and structuring across asset classes covering FX, interest rates, credits, equities, money market and commodities (both vanillas and derivatives), Alpha Southeast Asia’s Treasury & FX Awards is the very first award of its kind.
- Describe the bank’s FX vision and long-term strategy and how it views its market position versus its nearest competitor – in terms of: (I) market share; (II) cost ratio & (III) competitive pricing; (IV) product range.
- What is your FX total transaction volume (incl. proprietary FX spot FI’s transaction volume & flows from the derivatives desk) in local currency terms?
- In terms of percentage, how much of your FX, derivatives & treasury flows originate from e-trading or multi-bank trading platforms?
- Does the bank offer a 24-hour trading desk quoting FX, both deliverable and non-deliverable currency pairs?
- Are FX trade confirmations sent out Trade date+1 or Trade date+2?
- Assuming the bank is a large interbank counterparty, what is the bank’s market share of the local currency interest rate flows (in local currency terms)?
- What was the banks’ ranking within Bloomberg’ Best Emerging Asia Currency Forecasters during the last 4 quarters (1Q2025-1Q2026)?
- What is the bank’s market share for Cross Currency Swap (CCS), Interest Rate Swap (IRS), Forward & Options for Onshore Middle Market/SMEs?
- What is the bank’s market share for Cross Currency Swap (CCS), Interest Rate Swap (IRS), Forward & Options for Corporates & FIs?
- What are the bank’ strengths in the following areas: (I) Structured Hedging Solutions and Proprietary Trading Ideas; (II) Structured Product Investments; (III) Structures Embedded with Trigger Events; (IV) Money Market Products
- What types of unique products does the bank offer clients to fully hedge their cash flow mismatch, in light of regulatory constraints in certain ASEAN markets?
- Does the bank have a risk warehousing capacity for Corporates and FIs, particularly for long-dated or large-sized interest rate swaps and cross currency transactions?
- Is the bank a Top 5 local currency FX options local market maker and liquidity provider?
- Is the bank able to quote non-deliverable options in your local currency, key ASEAN currencies along with KRW, TWD & CNY, among others?
- Does the bank offer any onshore NDFs or USD/Asian NDFs?
- Testimonials from clients (optional); and
- Contact person for follow up questions: Tel. + email address should be provided.
SPECIAL MARQUEE AWARDS:
The aim of the Marquee Award is to recognize a leading FX House that has a growing and committed footprint within Southeast Asia, in a given product area. To participate, simply send us a short pitch document containing no more than 800-1000 (max) words as to Why your fund house deserves a particular award – on or before the deadline.
Notes about the written pitch:
- This material should be considered public.
- It lays out the case for why your organisation deserves the award.
- All submissions must be in Word document format.
- No supplemental material will be accepted except for client testimonials based in ASEAN. These will be treated with strict confidence and will be considered as off the record, but we do need to know the name of the client.
- Submissions (not including testimonials) are limited to 1,000 words. If it exceeds 1,000 words, we will delete anything following the thousandth word. You should not feel the need to fill it out to the maximum word count; clarity of argument is more important than length.
- We welcome information regarding growth in your business in terms of clientele, client segments, and addressable assets; product innovation; infrastructure improvements; credit ratings; market leadership; investment into your business.
- We will consider activities from Q1 2025 to the present.
- Mere size isn’t enough: we want to know what you have done for your clients and for the market in 2025-2026 that makes this your standout year. The key is to focus on your capabilities in Asia.
- In some cases, an interview may be required. These interviews are however off the record and are meant to put your formal pitch in context.
| Best FX House with the Strongest Liquidity Position |
| Best Online FX Platform |
| Best Derivatives House in Southeast Asia: Flow, Equity, Rates, Credit, FX & & Commodities |
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