Trading revenue is what a bank earns buying and selling securities for clients and for itself. It splits into equities (shares, options, prime brokerage) and FICC — fixed income, currencies and commodities. Both are volatile and depend on how much clients trade.
交易收入 —— 银行替客户和自己买卖证券赚到
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| $19bn | Wall Street banks face an earnings test after a $270 billion slide 交易收入 —— 银行替客户和自己买卖证券赚到 · 第 4 张术语卡 | The five largest banks are expected to book nearly $19 billion of equities trading revenue, with FICC heading for its weakest quarter of the year — the source of the divergence described here. 交易收入的特征是「看天吃饭」：市场波动大、客户活跃，交易台就赚得多；一路平稳，收入就掉。所以看银行财报时不能只看这一季的数字，要看它相对同行和市场环境是否合理。同一种市场环境里，股票业务强、FICC 弱，通常说明这轮行情的驱动来自股市，也暗示下个季度一旦波动率回落，交易收入会同步回落。 |