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HSBC’s Third Quarter Currency Income Drops on Lower Volatility
HSBC Holdings Plc (HSBA), the fifth-largest currency dealer as ranked by Euromoney Institutional Investor Plc (ERM), said foreign-exchange income declined in the quarter ended Sept. 30 from a year earlier.
While combined revenue from financial markets improved 71 percent to $2.2 billion, income from foreign exchange decreased 20 percent to $736 million, because of a decline in “market volatility compared to the particularly high levels of 3Q 2011,” the London-based bank said today in a regulatory statement.
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