Investment banks' trading revenue down 9% in 2015: survey

London

REVENUE at the world's 12 largest investment banks from trading fixed income, currencies and commodities (FICC) fell 9 per cent in 2015 compared with a year before, a survey showed on Monday, dragged down by regulatory changes and retrenchment.

Eight years after the global financial crash, banks are still struggling to adjust to reforms compelling them to hold more capital and liquidity, while litigation costs and market volatility have forced them to restructure, shed staff and exit some business lines. Such trends have reduced the FICC activities which had been their most profitable business.