Prebon Starts Up New Desk In Forward Cross-Currencies
BROKERS
In what one official calls an "adventuresome" move, Prebon Yamane in London has started broking forward foreign exchange crosses. The company has created a three-person desk under Bob Thompson to handle the instruments, say officials.
"Since we cover all the major currency forwards and we have a particularly strong arbitrage section, we feel that this is a natural expansion for us," says Rick Lawrence, managing director of Prebon's FX division.
He says that initially, the company will concentrate
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