Natexis loses in equity derivatives

Paris-based Natexis Banques Populaires has announced that it has made “significant losses” in its equity derivatives trading business due to poor risk control and failures in its valuation models. Natexis, 75% owned by the Banque Populaire group, said in December that the losses stemmed from structured equity products trading for the second half of last year. The bank is investigating the matter and has fired up to six staff, according to a Natexis spokeswoman.

The French bank said the

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