
NAB gears up for forex options restart
Bayne comes to the Australian bank from his post as a senior forex options trader at ABN Amro in Singapore. Clark joins from JP Morgan Chase where he was vice-president of the bank’s forex and commodity options group in London.
But an NAB spokeswoman in Melbourne told RiskNews that although the bank is gearing up to relaunch its options desk, it is impossible to say exactly when the business will recommence. She explained that NAB has worked through around 90% of the improvements demanded by the Australian Prudential Regulation Authority (Apra) following the trading debacle. But the regulator still needs to give a final go-ahead.
Apra originally closed the desk in March, 2004 after savaging NAB in a report on the A$360 million ($280 million) rogue trading incident.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on People
Derivatives
Callable repack frenzy opens up new options market in Europe
Demand driven mainly by French life insurers looking for alternatives to low-yielding sovereign bonds
Receive this by email