61.41 F
London
July 27, 2024
PI Global Investments
Precious Metals

HSBC shifts part of US precious metal trades to UK


HSBC moved to consolidate precious metal trading under one roof in the third quarter, transferring all associated market risk, and part of its physical assets, from its US subsidiary to the non-ringfenced UK unit.

HSBC USA Inc sold around $900 million worth of physical inventory to HSBC Bank Plc during the quarter, part of a decision to refer all stateside precious metal financing and trading clients to the London desk going forward.

!function(e,n,i,s){var d=”InfogramEmbeds”;var o=e

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.



Source link

Related posts

The commodities in the spotlight in June trading

D.William

Will Precious Metals Rally Outpace Bitcoin? This Economist Thinks So! Will Precious Metals Rally Outpace Bitcoin? This Economist Thinks So!

D.William

Lumina Gold Announces US$10.2 million Wheaton Precious Metals Draw and Amendment to the PMPA

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.