Rabo on EBS Prime

Rabobank is seeking to leverage its Triple-A rating by becoming the latest EBS Prime bank. The news comes as FX trading by new counterparties across new and emerging markets using EBS Prime now provides more than 14% of total EBS volume which averages $140 billion daily. Daily average trading volume for EBS Prime is now […]
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SocGen to Realign FX

Société Générale Corporate & Investment Banking plans to realign its foreign exchange business within a new Fixed Income, Currencies and Commodities (FICC) division early next year. Following in the footsteps of other heavyweights, including Merrill Lynch, which set up a FICC business this summer (Profit & Loss, September 2006), the French bank will create the […]
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Scotiabank Approved for Shanghai Branch

Scotiabank has obtained approval from the China Banking Regulatory Commission (CBRC) to open a bank branch in Shanghai. The new branch will serve as its hub for foreign exchange and treasury services offered in China and will also offer full lending and deposit-taking services in foreign currencies. Scotiabank has had a Beijing representative office since […]
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Banks Fear Vietnam FX Lawsuit Fallout

Foreign banks operating in Vietnam are concerned that the legality of all foreign exchange deals done in the country may be thrown into doubt due to a criminal case being pursued by Vietnamese police against nine FX dealers at ABN Amro and Industrial and Commercial Bank of Vietnam (Incombank). A source tells Squawkbox that the […]
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