BNY Mellon FX profits dive in quarter 1
US banking giant Bank of New York Mellon has announced declines in company profits for the first quarter of 2012. The bank saw revenues slide against 2011 figures and witnessed a major set back in its Foreign Exchange business which was down by 21%.
BNY Mellon the words largest custodian bank and 7th largest bank in the world reported net income of $619 million, or 52 cents a share, compared with $625 million, or 50 cents a share, a year earlier.
Its FX division generated $136 million in the fist quarter, a decline of 21% measured against previous years figures and a 26% drop from the fourth quarter of 2011.
BNY Mellon along with State Street bank have been battling the courts against claims they have been 'over charging' pension funds.
BNY Mellon has a wide range of FX products for corporates and institutional investors.
It's iFX Express (single dealer platform) provides 2 click Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term on spot, forwards and Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term on over 100 currency pairs.
US banking giant Bank of New York Mellon has announced declines in company profits for the first quarter of 2012. The bank saw revenues slide against 2011 figures and witnessed a major set back in its Foreign Exchange business which was down by 21%.
BNY Mellon the words largest custodian bank and 7th largest bank in the world reported net income of $619 million, or 52 cents a share, compared with $625 million, or 50 cents a share, a year earlier.
Its FX division generated $136 million in the fist quarter, a decline of 21% measured against previous years figures and a 26% drop from the fourth quarter of 2011.
BNY Mellon along with State Street bank have been battling the courts against claims they have been 'over charging' pension funds.
BNY Mellon has a wide range of FX products for corporates and institutional investors.
It's iFX Express (single dealer platform) provides 2 click Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term on spot, forwards and Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term on over 100 currency pairs.