Interdealer brokers get boost from FX
The London-based broker said forex revenues reached $46.8 million in the second quarter, up from $30.3 million in the same period last year. BGC attributed the rise to the easing of credit issues for clients of the emerging markets desks.
Shaun Lynn, president of BGC Partners, said revenues related to fully electronic trading grew by 40% compared with the same quarter a year ago, to $31.6 million, or 9.4% of total revenues. The growth from e-broking was broad-based across rates, credit and FX
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