Mixed messages

NIBC Petercam Derivatives, the Brussels-based equity derivatives specialist, has been forced to close following significant trading losses. But others, notably SG, are reporting enormously successful results emanating from equity derivatives. Paul Lyon reports


Dutch merchant bank NIB Capital has been put up for sale by its owners, Dutch pension funds ABP and PPGM. Potential suitors are rumoured to be Cerberus Capital Management, Fortis Bank and GE Capital. But the bank has greater concerns, considering that its 50:50 derivatives joint venture with Belgian broker Petercam has suffered substantial trading losses.

NIBC Petercam Derivatives (NPD), the Brussels-based equity derivatives specialist (see box), is being wound down and the results of a

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