FX Markets



Merrill Lynch reports revenue from principal transactions, which includes foreign exchange, for the first half of 1999 was $2.51 billion, an increase of 16 per cent on $2.16 billion last year. Revenue in the second quarter was $1.06 billion, up 8 per cent on the previous year's figure of $989 million. However, the result was markedly down on the record figure of $1.44 billion in the quarter immediately prior.

June was a record month for the Eurex derivatives market. With volume of 38.4 million

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