Exco Blames Subdued FX Gains On Electronic Matching Systems

BROKERS

Exco, the U.K. money broker, reported a 42 per cent fall in interim pre-tax profits to £16.1 million, in the first half of 1995 from £28 million in the first half of 1994, with foreign exchange suffering from sluggish market conditions and increased competition from electronic matching systems.

Turnover fell 13 per cent to £109.8 million compared to £128.8 million in the first half of 1994, officials say.

Foreign exchange, which contributed about 6 per cent of Exco group profits last year, wa

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: