Volcker rule forces trading desk rethink

Trading desks at rule's heart - but do banks have dozens of them, or hundreds?

volcker
Paul Volcker

Depending how they are defined, a big bank might have anything from several dozen trading desks to several hundred – and until the advent of the Volcker rule, with its ban on proprietary trading, the bank might not have cared either way. Now, banks do care, but they are struggling for answers. It matters because trading desks are the entities lumbered with most of the Volcker rule's compliance work. Each desk is required to state which of the rule's allowed activities it engages in &nda