Special FX

1 September 2010 By Nicholas Paisner

Foreign exchange trading provided the industry with a muchneeded boost this year. As well as smoothing earnings volatility, the business looks a relative winner in a tougher regulatory climate. Even if secondquarter performance isn’t repeated soon, forex has a lot going for it.

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The Bank for International Settlements (BIS) said on Sept. 1 that turnover in the global foreign exchange market was 20 percent higher in April 2010 than in April 2007. Average daily volume in the latest period was $4.0 trillion.

53 central banks and monetary authorities participated in the bank's eighth triennial survey.

CLS Bank, which settles over three quarters of interdealer currency trades, said on June 1 that it had settled a record 900,000 trades in one day. The total value settled was $5.7 trillion.

Deutsche Bank said on July 27 that it had a record secondquarter result in foreign exchange.

HSBC reported foreign exchange revenue of $1.51 billion in the first half of 2010. Barclays said it that it made topline forex income of 428 million pounds ($670 million) in the first half, while Standard Chartered reported revenue of $646 million.

Context News

53 central banks and monetary authorities participated in the bank's eighth triennial survey.

CLS Bank, which settles over three quarters of interdealer currency trades, said on June 1 that it had settled a record 900,000 trades in one day. The total value settled was $5.7 trillion.

Deutsche Bank said on July 27 that it had a record secondquarter result in foreign exchange.

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