also novates the net settlement position and becomes the legal counterparty to both sides of a GCF Repo contract for settlement purposes.
Based in New York, FICC
has some USD7bn (EUR5.19bn) in assets under management.
The company offers investment banking, equities, FICC
, wealth management services and investment management.
Conversely, the trend line remains negative for FICC
revenue, down 4% YoY, with the overall wallet declining 2.1% on a CAGR basis since 1Q12.
During the quarter, FICC
Client Execution operated in an environment characterized by low client activity amid low levels of volatility.
The move comes duringAaAeAeA a yearslong effort at Morgan Stanley to increa returns on fixed income, currencies and commodities trading, or FICC
,AaAeAe field that has recentlyAaAeAeA seen abysmalAaAeAeA profitsAaAeAeA (http://www.wsj.com/articles/gentlemen-may-prefer-bonds-but-more-traders-take-stocks-14443 throughout Wall Street .
Part of the BMO Fixed Income, Currencies and Commodities (BMO FICC
) group, BMO Capital Markets' Foreign Exchange Products group includes a team of nearly 100 professionals operating in 11 cities: London, Toronto, Montreal, Chicago, Milwaukee, New York, San Francisco, Guangzhou, Shanghai, Beijing and Hong Kong.
Overall, Fixed Income Currency and Commodities (FICC
) trading revenues were up modestly year over year, after a very strong first-quarter 2017.
Chavez noted a "particularly challenging" commodities backdrop and said that commodities was the single largest driver of the FICC