Ficc revenues tank at US banks

Revenues were dampened by low volatility throughout most of 2017, among other factors

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Sinking volumes: low volatility depressed Ficc earnings in 2017, particularly in foreign exchange markets

Depressed volatility and low client activity at US banks over the course of last year drove sales and trading revenues in fixed-income, commodities and currencies (Ficc) markets to fall by double digits on average, on a full year and quarterly basis, compared with 2016.

The low-volatility environment last year contrasted with the previous 12 months, during which event-driven volatility – resulting from the UK’s vote to leave the European Union and the US elections – boosted trading activity.

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