Wells Fargo Revs Up FX Options in Latest Swing at Trading Growth

Wells Fargo & Co. is adding a new front to a trading business that executives see as a key test for the firm’s ability to go toe-to-toe with Wall Street giants.

The firm is diving into foreign-exchange options, armed with new offerings and a bulked-up team of traders across three continents. It’s the latest volley for its broader currencies business, which is pulling in over $1 billion in annual revenue, according to people familiar with the matter.

The push comes as daily volumes in the $7.5 trillion-a-day foreign-exchange market soar, tied to US President Donald Trump’s vows to shake ...