
US Investment Banks Report Increased FX Trading Profits
FRONT PAGE NEWS
NEW YORK--US investment banks profited from expanding FX operations in 2000 to boost their market-share of global FX trading, say officials at banks in New York and London.
Officials spoke to FX Week following publication of the US investment banks' annual results, which were published last week. The banks operate a fiscal year ending November 30, 2000.
Lehman Brothers' London-based European head of FX, Ivan Ritossa told FX Week the bank had "significantly" increased its revenues from FX trading
More on Foreign Exchange
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity