BNP Paribas to close Opera trading desk - report

Business 1/11/2019, 7:40 PM
BNP Paribas to close Opera trading desk - report

French bank BNP Paribas S.A. plans to close its proprietary trading desk Opera Trading Capital in the next three months, the Financial Times reported on Friday citing a source familiar with the matter. The proprietary trading unit, worth €2.5 billion, struggled due to extensive regulations imposed after the 2008 financial crisis.

According to the report, the funds meant for Opera will be redirected to BNP's investment banking division. The source explained that proprietary trading had become a marginal business for BNP.

Breaking the News / NI

Keywords:
Share:

BNP PARIBAS+2.21%

42.335
Chart for: BNP PARIBAS ACT.A