Strong Q2 for US FX
TECHNOLOGY NEWS
State Street saw an exceptionally strong quarter. Its trading service revenues, which includes FX trading revenue and brokerage and other fees, were $176 million, up 59% from the same period last year. State St said this was driven by improved volumes and increased volatility in FX. A spokesperson said volumes with asset managers and hedge funds grew significantly as they continued to value the quantitative research into investor behaviour.
Meanwhile, Bank of America saw a 16% overall increase
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