NAB gets green light on forex options


National Australia Bank (NAB) is set to reopen its foreign exchange options business on May 9, more than 12 months after it was forced to close the desk in response to a derivatives trading scandal that enveloped the bank.

The Australian Prudential Regulation Authority (Apra), Australia’s financial watchdog, gave NAB the go-ahead after the bank completed sections of a reform programme relating to the restart of its forex derivatives desk.

Apra originally issued a list of reforms in March last

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