BGC's forex revenues drop in Q3
Brokerage revenues from foreign exchange at BGC Partners fell 38% to $23.7 million in the third quarter versus the same period last year, but powered through on electronic FX broking.
The interdealer broker blamed the decline on lower industry volumes, highlighting a drop in emerging market foreign exchange options brokerage. The fall meant forex broking contributed 8.1% of total revenues of $291.2 million, from around 12.7% of total revenues in the same period last year. Revenues for the period
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