JP Morgan Consolidates EMS Trading, Closing Operations Across Continent

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JP Morgan will concentrate its EMS currency and short-term interest rate trading activities in London, closing operations in Paris, Madrid and Milan, says an official. The consolidation will be implemented sequentially, with trading ceased in Paris on November 14; Madrid in the middle of December; and Milan around February 1.

Approximately 20 traders are affected by the decision and all will be redeployed to other Morgan locations, primarily in London, says global head of FX Klaus Said. Morgan

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