Among that select group are the interdealer brokers who take a margin for executing trades on behalf of securities dealers. As the investment banks continue to admit ever-greater losses, profits at the main interdealers are all up thanks to the big increases in trading volumes.
We have seen many crises in the financial markets, but this was a once-in-a-lifetime event, says Don McClumpha, Asia-Pacific deputy chief executive of Icap, the world's biggest broker.
On August 16, 2007, at the height...
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