The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

State Street tells all: FX revenues

We are often asked to compile a league table of banks based on their FX earnings. It’s a great idea but an impossible task because most banks don’t separate out their FX profitability.

One that provides a bit more clarity than most is State Street. It details what it calls its trading services revenue, “which includes foreign exchange trading revenue and brokerage and other fees”. This came in at $270 million in Q4 in 2009, virtually unchanged on Q3, but down 35% on Q4 of 2008.

The headline decline probably isn’t that surprising, given the volatility in the aftermath of Lehman’s collapse. However, the bank adds: “The 57% decrease in foreign exchange revenue is primarily due to lower volatility and lower volumes.”

I wonder if other banks have seen such a large drop? Or is State Street’s fall off attributable to the State of California’s decision to sue it over its level of service?

 

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree