The FINANCIAL — HSBC reported a 19% surge in foreign-exchange revenue in 2011, citing increased client activity and an improved trading environment as a result of market volatility.Total operating income from foreign exchange was $3.272 billion in 2011 compared with $2.752 billion a year earlier.
According to London Stock Exchange, the bank said increased client activity in Hong Kong, the rest of Asia-Pacific, North America and Latin America drove a strong performance in its foreign exchange business.
"Market volatility during 2011, caused by geopolitical tensions, ongoing euro-zone concerns and interventions by central banks, resulted in an improved trading environment for foreign exchange compared with 2010," it said.
The bank said it had continued to invest in e-commerce platforms to improve its range of foreign-exchange products.
"These developments have contributed to a 43% increase in electronic volumes and a 16% rise in foreign exchange revenues in 2011," the bank said.
Discussion about this post