Any business that can generate $135 billion in revenues – as fixed income did for the top 10 houses in 2009 – can afford to brush off concerns that some of the money is draining away as a result of IT and organisational waste, but with revenues now at roughly half those levels, according to analytics firm Coalition, banks are under intense pressure to save money. At the biggest dealers, that has gone beyond traditional belt-tightening, to become a huge demolition-and-rebuilding exercise.
The week on Risk.net, October 6-12, 2017Receive this by email
- Quantile, TriOptima face off in cleared swaps compression battle
- ABS set for revival under US Treasury’s liquidity buffer plans
- Leaked EU doc could shield legacy swaps from clearing grab
- Industry hails potential US relaxation of margin timing rules
- SGX, HKEX expect to be among first wave of Mifid II equivalence