Citigroup bucks trend with first quarter FX profit surge
FRONT PAGE NEWS
NEW YORK -- Citigroup last week reported a 21% rise in FX earnings for the first quarter of 2002 last week, but most other US banks fell foul of dwindling volatilities in the FX markets so far this year.
Some dealers described the Q1 as one of the dullest on record in the FX markets, with the major currencies moving in narrow ranges and lacking direction after last year’s raft of US and global interest rate cuts. Senior bankers had predicted that banks would struggle to repeat last year’s
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Wholesale
JP Morgan: beating lower margins, flat volumes and the competition
Foresees collaboration with clients and technology providers on FX tech infrastructure, and working with regional players
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Debelle: last look will not be banned
GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice
Buy-side traders cannot be passive with algo execution
Traders need to be proactive and ensure in-depth monitoring throughout life of an order, panellists say
Spotex expands institutional offering with JP Morgan and NatWest
The banks’ prime brokerage desks seek diverse liquidity pools that could lead to better execution for their algos
MUFG eyes financial institutions, pension funds in expansion
Japanese bank wants to build a broader client base beyond corporates
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Electronic trading differentiates dealers competing for market share
Technology and business scope keep JP Morgan and Citi at the top, but selectivity has some dealers gaining momentum
