Swiss Bank Consolidates FX Trading Closes Chicago, San Francisco Desks
BANKS
Swiss Bank Corp. shut down its foreign exchange trading desks in Chicago and San Francisco July 3, effectively eliminating its branch network in the U.S. A spokesperson at the bank confirmed the move, noting that the closings were consistent with its plans to consolidate its foreign exchange trading operation in New York.
Swiss Bank, which bolstered its profile in currency options by hooking up with O'Connor and Associates last year, is now looking to bolster its profile in the interbank market
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