US banks hit by flat trading

Just weeks after the Bank for International Settlements' triennial survey of the industry showed a huge growth in the FX market, with a 58% increase in volume since 2001, numbers from banks are pointing to a much tougher time since the survey's data was collected in April. The big increases in trading revenues seen in the first two quarters with exponential demand from hedge funds, seems to have been reversed, with flat or declining revenues this quarter.

State Street's FX trading revenues f