Late Results Confirm Flat Gains Picture In Forex At U.S. Banks

BANKS

The latest third-quarter foreign exchange trading results released by U.S. banks continue to show the flat performances announced earlier in the month by market leaders (FX Week, October 24).

American Express Bank's third-quarter foreign exchange revenues fell $1 million year-over-year, to $17 million, which officials say reflects lower revenues and higher operating expenses, primarily spending related to systems technology.

Amex is establishing a global derivatives and foreign exchange operat