DG Bank Refocuses In L.A. Halts FX Interbank Activity
BANKS
Frankfurt-based Deutsche Genossenschaftsbank (DG Bank) closed its modest interbank foreign exchange trading operation in Los Angeles several weeks ago, officials at the bank say. Roderich Koch-Pausz, the bank's branch manager in L.A., says that the bank decided that it would be more cost-effective to centralize its interbank FX operation in New York instead.
"There is a very small local West Coast market for that [type of activity]," says Koch-Pausz, which becomes increasingly illiquid after
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com