EAB N.Y. Ends Speculative FX Interbank Trading But Corporate Driven Activities To Continue
BANKS
European American Banking Corp. (EAB), one of the first European banks to establish a presence in the New York foreign exchange market, stopped taking speculative positions in the interbank market last week. EAB's operation is now solely corporate driven, sources there say.
"We're still open and doing foreign exchange business, we're just not doing the speculation in the interbank [market]," says Charles Vaccaro, EAB's chief trader in New York. While traders on the desk and other interbank
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