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

Drop is due to regulatory changes requiring them to hold more capital and liquidity, and retrenchment


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...

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