US banks benefit as European peers pull back from Ficc
Ficc profits falling but US banks gain ground
US banks are increasing their footprint in Europe in the fixed-income, currencies and commodities (Ficc) segment as European firms pull back from the increasingly low-margin space, where revenues this year could decline by 70% as regulatory changes force banks to reassess their business models.
Over the past year, the five US banks that rank among the top 15 dealers in the Ficc segment in Europe all gained market share, while five of the seven top-ranked European dealers have lost out in the
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