Royal Bank of Scotland to exit CFD trading
Royal Bank of Scotland (RBS) has told customers it intends to close its contracts for difference (CFD) trading business in November, amid concerns across the industry that Basel III reforms could make the product too costly for many participants.
RBS announced the move on August 27, advising customers of its 'marketindex' CFD service to close any positions before November 8, when all unexecuted orders will be closed by the bank.
"As part of our exit from structured retail investor products and
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