Forex escapes revenue decline at UBS
Results released on August 14 show FIRC revenues settled at Sfr1.814 billion ($1.49 billion) in Q2 2007, down from Sfr2.626 billion for the Q2 2006.
This did not hinder strong gains in the Swiss bank's FX and money market revenues, however. Net trading income from FX, cash and collateral trading and commodities reached Sfr1.244 billion in Q2. This represents a 14% increase from Sfr1.089 billion in Q2 2006.
UBS attributed FX and money market revenue gains to increased efficiency after the bank
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