Garban-Icap FX profits soar
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LONDON -- Voice broker Garban-Intercapital boosted its derivatives and money broking business by one-third for the financial year ending March 31, the firm reported last week.
David Gelber, chief operating officer at Garban-Icap in London told FX Week the result reflected interest rate volatility in Europe and the Far East as well as the US, which dropped rates by 150 basis points during the final quarter of the reporting period.
The boost in money-broking profits may silence observers who have
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