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Here Are Some Other People Pretty OK With The Swiss National Bank

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The survivors of the Swiss cap-scrapping are beginning to emerge from the rubble of Bern and Zürich into a brave new world, with great big smiles on their faces.

Even as some foreign-exchange brokers that focus on serving retail customers were getting hammered by the surprise surge in the Swiss franc earlier this month, other firms that deal mostly with big banks, hedge funds and other large clients were handling record amounts of business—and raking in profits….

Interdealer platforms such as ICAP’s don’t take on much market risk but instead stand in the middle of bank and asset-management clients, earning fees as they match orders. For these businesses, profitability is closely linked to trading volume.

Swiss Franc’s Leap Lifts Some FX Brokers [WSJ]
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