Teutonic Exodus From Trading Desks: Deutsche Bank Set To Reduce Commodities Division
by
Andrew Saks McLeod
German financial institution Deutsche Bank has today announced that it is taking action to reduce its commodities business in order to concentrate on core products, resulting in the closure of trading desks.
Within Europe's strife-ridden financial markets economies, Germany remains in the strongest position, with its banking sector in a strong position in comparison to its Western European neighbors.
Strategic decisions to streamline business are not exclusive to regions within Europe which are exercising belt-tightening measures due to protracting economies, however, as Deutsche Bank has today announced its intention to scale back its commodities business, in order to focus on its core products which consist of financial derivatives and precious metals.
Reduction In Trading Desks
According to Deutsche Bank's announcement today, the company intends to make a complete exit from dedicated trading desks which cover energy, agriculture, base metals and dry bulk which will be conducted by a newly created business unit designated Special Commodities Group which will be charged with the responsibility of winding down these businesses.
Doubling Up On Currencies Platform
The financial derivatives and precious metals businesses will be integrated into Deutsche Bank's Fixed Income and Currencies platform to take advantage of existing synergies subsequent to this particular corporate restructure having taken place.
Colin Fan, Co-Head of Corporate Banking & Securities at Deutsche Bank, made a corporate statement today to the effect that, "As part of Strategy 2015+, we are actively managing and reviewing our business portfolio. The decision to refocus our commodities business is based on our identification of more attractive ways to deploy our capital and balance sheet resources. This move responds to industry-wide regulatory change and will also reduce the complexity of our business."
Within Europe's strife-ridden financial markets economies, Germany remains in the strongest position, with its banking sector in a strong position in comparison to its Western European neighbors.
Strategic decisions to streamline business are not exclusive to regions within Europe which are exercising belt-tightening measures due to protracting economies, however, as Deutsche Bank has today announced its intention to scale back its commodities business, in order to focus on its core products which consist of financial derivatives and precious metals.
Reduction In Trading Desks
According to Deutsche Bank's announcement today, the company intends to make a complete exit from dedicated trading desks which cover energy, agriculture, base metals and dry bulk which will be conducted by a newly created business unit designated Special Commodities Group which will be charged with the responsibility of winding down these businesses.
Doubling Up On Currencies Platform
The financial derivatives and precious metals businesses will be integrated into Deutsche Bank's Fixed Income and Currencies platform to take advantage of existing synergies subsequent to this particular corporate restructure having taken place.
Colin Fan, Co-Head of Corporate Banking & Securities at Deutsche Bank, made a corporate statement today to the effect that, "As part of Strategy 2015+, we are actively managing and reviewing our business portfolio. The decision to refocus our commodities business is based on our identification of more attractive ways to deploy our capital and balance sheet resources. This move responds to industry-wide regulatory change and will also reduce the complexity of our business."
FX Volatility Impacts Q1 Revenue of Compagnie Financière Tradition
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
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Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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