Cinkciarz.pl, a company belonging to Conotoxia Holding, left the world's competitors far behind, occupying 58 podium places and winning 31 times in the yearly Bloomberg FX Forecast Accuracy Ranking. Just to compare: the second team took 45 places in the top three, including 13 at the highest place.
Bloomberg, the world's largest news agency in the field of finance and economy, invites well-known financial institutions to participate in the prestigious ranking every year. Analysts from various countries and continents can submit their forecasts for several dozen currency pairs. Bloomberg additionally merges some of them into additional groups linked regionally or economically, like EMEA (Europe, Middle East and Africa) or Latin America. Group classifications are based on quarterly rankings of individual currency pairs. A good result on specific pairs means a high position in the regional ranking.
Complex ranking, elite competition
We have analysed all last year's quarterly rankings, checked who was ranked on the podium and how many times — in this field, Cinkciarz.pl was the winner! Taking into account the competition for 2019, the Company dominated the entire competition, which gathered, among others, representatives of the most well-known banks in the world. The global potential and ambitions of Polish fintech have found confirmation not only in the development of services to other countries and continents but also in active competition with the biggest players in the industry.
"It turns out that our experience and knowledge allows us to compete with the world's largest banks of more than a century's history and institutions with huge financial resources like, e.g. JP Morgan, BNP Paribas, ING or PKO BP," says Piotr Kicinski, Vice-President of Cinkciarz.pl.
A year full of volatility, which made the task even harder
The 58 places on the podium and 31 victories are an excellent confirmation of our analysts' competence and extensive knowledge.
"Forecasting changes in currency exchange rates from different parts of the world requires, among others, thorough analysis of global economic and geopolitical events and trends, analysis of published data, as well as the ability to translate individual facts to the correlations between currencies," lists Cinkciarz.pl representative. "We are particularly pleased that our domination was not limited to local currency pairs. Many times we were ranked for the predictions on the most important currency pair, the EUR/USD. Moreover, we were on the podium for Latin American currencies, where our analyses were mentioned in local newspapers, in Argentina and Brazil."
In 2019, the forecasts of currency fluctuations was even more challenging due to extraordinary events: a trade conflict between the USA and China, the endless issue of Brexit, a massive economic slowdown in the eurozone or a deep crisis in several Latin American countries.
For the Company with Polish origin and its clients, the fact that Cinkciarz.pl won top rankings in the classification of the most important currency pairs against the zloty, i.e. EUR/PLN and USD/PLN, may play an important role. Moreover, the Company's forecasts won the classification among the most important financial institutions from all over the world, making its position as a global brand even more pronounced.
