Credit Suisse pulls out of forex prime brokerage

Swiss dealer the latest to exit the business

Credit Suisse in London
Credit Suisse London

Swiss bank Credit Suisse has notified clients that it is shutting down its foreign exchange prime brokerage business (PB) as of last week, as it refocuses on core business areas, people familiar with the matter told FX Week, a sister title of Risk.net.

The bank's listed derivatives and over-the-counter clearing businesses will remain unaffected, but it has started the process of winding down its forex PB operation last week. The bank's clients were not given a hard and fast deadline for finding