Natixis to wind down commodities brokerage
May 10, 2012 | 04:55 AM
Natixis will wind down its commodities brokerage business, including its London Metal Exchange ring-dealing unit, as part of broad restructuring operations responding to the eurozone debt crisis, the French bank announced on Wednesday May 9.
The closure comes as part of an adaptation programme launched during the first quarter of the year, the bank announced in an earnings release.
The LME team was informed of the decision on Wednesday evening, and there is uncertainty as to how the business will be liquidated, or whether it will be bought out by a rival brokerage beforehand.
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