StanChart's Middle East drive will boost forex volumes
LONDON - Standard Chartered's foreign exchange volumes are set to be boosted by the bank's securities services business expansion into the Middle East.
The bank is extending into Bahrain, Qatar, Oman and three other unnamed markets. Richard Leighton, global head of FX in London, said the additional custody business generated in the region will benefit FX.
"The caveat is that a lot of the flows we saw early last year were speculative in nature, with hedge funds taking positions on the back of
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