FX Week



Merrill Lynch reports principal transaction revenue, which includes FX, was $1.1 billion in the third quarter, up $780 million from the 1998 third quarter, when global market conditions negatively impacted trading revenues. The figure was down slightly on the second quarter of the year.

Total currency futures volume at the CME was 2,387,144 contracts during September, 53 per cent up on August's total of 1,557,649 contracts. Average daily volume was 113,674 and open interest stood at 352,233

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