NAB to reopen options desk

Rahul Jhaveri and Joseph Radford
01 May 2005

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National Australia Bank (NAB) will reopen its forex options desk on May 9, more than a year after it was forced to close the business in response to a A$360 million ($280.5 million) options trading scandal.

NAB has received approval from the Australian Prudential Regulation Authority (Apra), the local financial watchdog, to restart the business following changes made to its risk management controls and processes. The desk was closed by Apra over 12 months ago, after an investigation into the

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