JP Morgan Highlights SNB Move as Boost to Q1 Profits – Profit & Loss (free story)
JP Morgan has reported a 12% increase in year-on-year profits with a net income of $5.9 billion and total revenue of $24.8 billion, which it says was fuelled in part by macro events including the Swiss National Bank removal of the ceiling which drove “robust client activity” in trading.
Volatility Pushes BAML’s FX Revenues to Record Levels – Profit & Loss (free story)
Bank of America Merrill Lynch says its fixed income, currencies and commodities (FICC) business recorded the highest quarterly FX sales and trading revenue since the Merrill Lynch merger, following increased FX volatility which led to “higher client flows and revenues” in Q1.
Deutsche Bank Said to Lose Traders as Strategy Review Looms – Bloomberg
Deutsche Bank lost two senior traders on the emerging markets and foreign exchange teams in London last month, adding to a series of departures as the bank reviews its strategy, said a person with knowledge of the matter.
FXCM Sees Over 50% Rise in Institutional FX Volumes for March – Profit &Loss (free story)
FXCM has reported a substantial uptick in FX trading volume for March 2015 across both institutional and retail client segments.
Alpari UK CHF Currency Pair Trade Values Confirmed by KPMG; Creditors Set to Receive 51 Cents in the Dollar – LeapRate
KPMG has announced a client money distribution of 51 cents in the dollar for Alpari UK clients, as well as having confirmed the value of CHF trades that were open on 15 January when Alpari became insolvent. The total amount of client funds recovered to date amounts to $98,653,088.