Arab African Throws In Towel Exits FX Market In New York
BANKS
Egyptian-based Arab African International Bank has recently shut down its foreign exchange trading operation in New York. "We’re only conducting funding operations here in New York," says a source at the bank.
The bank had been scaling back its foreign exchange trading operation for some time, eventually whittling its staff down to just one person, its chief dealer Dean Wilson, who left the bank last month, a source at the bank says. At its peak, Arab African had approximately five traders, but
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