RBS exits listed derivatives trading and clearing
Clients served eviction notices last week as bank moves to downsize NatWest Markets unit
RBS has shut its client clearing and execution business for futures and options trading, leaving around 150 clients scrambling to find alternative arrangements in as little as three months.
The business, which was part of NatWest Markets’ currencies unit, was relatively small for the bank. It is said to have generated some £25 million ($30.9 million) in revenues for the UK state-backed lender last year.
NatWest Markets relationship managers learned of the decision last week, and clients have
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