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彭博社

巴克莱主券商与衍生品交易员推动股票业务丰收Barclays’ Prime and Derivatives Traders Drive Equities Windfall

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该行的首席执行官表示,该银行的主券商和股票衍生品业务推动了其股票交易业务90%的增长,该业务周四大幅超出分析师预期。

Plc’s prime brokerage and equity derivatives businesses drove 90% of the firm’s growth in stocks trading, which blasted past analysts’ expectations on Thursday, the bank’s chief executive officer said.

这家英国银行正在向股票业务重新平衡,尽管它仍然是“由固定收益业务建立的银行”,首席执行官CS文卡塔克里希南在讨论财报的电话会议上表示。巴克莱银行的股票业务收入在该季度较去年同期增长47%,而固定收益业务下降了19%。

The UK bank is rebalancing toward equities, though it remains “the house that fixed income built,” CEO CS Venkatakrishnan said on a call discussing earnings. Barclays’ equities revenue rose 47% during the quarter from a year ago, compared with a 19% drop in fixed income.

所谓的主券商业务,即银行为基金和投资者提供融资、托管等服务,已推动各大银行的股票业务收入增长。高盛集团公司为对冲基金提供贷款的部门上周首次在有记录以来的第一个季度内超过了该行股票部门的交易收入。

So-called prime brokerage, where banks offer services such as financing, custody and services to funds and investors, has boosted equities revenue across banks. Goldman Sachs Group Inc.’s unit that lends to hedge funds last week beat trading in the bank’s equities division for the first quarter on record.

知情人士本月早些时候表示,巴克莱一直将主融资业务作为优先事项,并在过去几个月里将资产负债表从宏观交易员转移到其亚洲主券商业务,原因是该业务已达到容量上限。该行周四表示,根据一份演示文稿,其前100名客户中有98家与该行建立了融资关系。

Barclays has been prioritizing prime financing and in recent months diverted balance sheet from macro traders to its prime business in Asia after it hit capacity limits, people with knowledge of the matter said earlier this month. It said Thursday that 98 out of its top 100 clients have a financing relationship with the bank, according to a presentation.

波动性,尤其是科技股的波动性,推动了高杠杆基金交易收入的大部分激增。当人工智能股票在7月下跌时,一些对冲基金受到特别严重的打击,包括情境意识基金。

Volatility, particularly in technology stocks, has driven much of the surge in trading revenue among highly levered funds. Some hedge funds were particularly damaged when artificial intelligence stocks fell in July, including Situational Awareness.

“该业务的风险始终在于客户选择,”文卡塔克里希南在与分析师的电话会议上表示。彭博社此前报道,巴克莱因担心该行业存在集中度风险,拒绝将情境意识基金作为客户。

“The risks in this business are always client selection,” Venkatakrishnan said on a call with analysts. Bloomberg has reported that Barclays declined to take on Situational Awareness as a client because of concerns over concentration risk in that sector.

“偶尔会出现一些知名基金的名称;上个季度就出现过这样的情况,如果银行与这些基金有业务往来,可能会感到担忧,”Venkatakrishnan说道。“我很高兴地告诉大家,我们并没有与那个被提到的基金发生任何业务往来。”巴克莱银行的固定收益收入同比下降幅度在华尔街所有银行中最为显著,其高管们将这一现象归因于该银行在信贷业务以及欧洲利率方面的薄弱环节。

“There are names of prominent funds, every now and then — there was one in this last quarter — which which can cause anxiety for banks if they deal with them,” Venkatakrishnan said. “I’m happy to say we didn’t deal with the one that was mentioned.”Barclays’ fixed income revenue drop was the largest year-over-year decline across Wall Street banks, with executives citing particular weaknesses in credit and European rates.

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