Merrill Posts Record FX Trading Gains In September, Quarter, Nine Months
BROKERS
Merrill Lynch posted its most impressive foreign exchange trading revenues ever in September, which also helped lift nine month and third quarter FX gains to new heights, officials there confirm. Other investment banks with sizable foreign exchange operations are also likely to follow Merrill's lead, sources surveyed say. However, PaineWebber and Smith Barney, which don't have much of a profile in the market, weren't quite so lucky.
One benefit the investment banks didn't have in the turbulent
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