CRISIS SHAKES UP THE COMPETITIVE LANDSCAPE

摘要

In 2009, foreign exchange (FX) hasrnbecome a business of choice, even for banks that once regarded it as the less glamorous cousin to the fixed-income and equity businesses. Spot and short-dated FX is far less demanding on the balance sheet or in value-at-risk calculations than fixed income, and daily turnover is about 10 times that of global equity markets.