“This low level of client cash [at 12.7 percent of assets] we’ve never seen,” Hockey told analysts.
Part of that is because the value of equities has risen compared to cash holdings, he said, “but it certainly feels like this bull market is long in the tooth.”
Company officials said they were monitoring the use of crypto-currency futures and limiting them to a small base of experienced traders.
Also Tuesday, the company launched 24-hour trading capability for 12 widely-held U.S.-listed ETFs (FXI, SPY, EEM, GLD, SLV, DIA, UNG, TLT, IWM, QQQ, USO and SH). The move is designed to appeal to Asian clients who currently must trade U.S. securities when U.S. markets are open.