Brokers hit by forex volume drop
LONDON - Interdealer brokers reported a decline in first-quarter brokerage revenues, reflecting lower forex trade volumes and a fall in client head counts.
Revenues from the sales and trading business at Thomson Reuters were $890 million, down from $981 million last year as a result of less forex trading and fewer desktop subscriptions. The London-based broker said this was partly offset by good revenue growth from Tradeweb, the commodities and energy and electronic trading platform, which
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