Handelsbanken shuts down New York desk
Proprietary trading operations will end by August 1. The New York desk will, however, remain open to provide the bank's customer-driven FX services to Nordic clients with business in the US.
The desk appears to have suffered indirectly from the credit crisis as the bank exits fixed-income securities proprietary trading. The one desk handles trade both in FX and fixed income.
Handelsbanken said it has divested a "significant" part of its exposure to US asset-backed securities (ABSs). Of this, the
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