U.S. Securities Industry Financial Results: 2008: In line with 2008 public company annual reports, U.S. broker-dealers reported full-year
financial results considerably below 2007 levels. Despite total expenses declining by 31.4 percent, total revenues declined further, falling 38.7 percent from a record high of $474.2 billion in 2007. Net revenues (total revenues less interest expense) fell 18.6 percent to $166.0 billion and losses totaled $34.1 billion compared to the $777.4 million earned in the prior year.

Credits

SIFMA Research

• Managing Director, Director of Research: Kyle Brandon
• Research Analyst: Paul Rainy