Here is the article.
The revenue from trading for the five largest U.S. banks fell 8% in the second quarter and had previously declined 14% the first three months of the year. This looks like the worst first half in over a decade for the big banks.
To highlight the disruption of technology on trading, back in 2000, according to Marty Chavez, Goldman Sachs’ deputy chief financial officer and former chief information officer, the firm’s equities trading desk employed 600 traders. Fast forward to today and Goldman has merely two equity traders left.
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