Credit Suisse slashes Asia commodity futures clearing business
Swiss firm becomes latest bank to scale back activity in the sector
Credit Suisse has taken a strategic decision to reduce – or potentially exit – its Asia commodity futures clearing business, making it the third global firm to reduce its presence in the region after Nomura and RBS both announced they were shuttering their local operations.
In 2014 the Swiss bank closed down its global commodity trading business and it appears the combination of no in-house demand
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