Rates trading consolidates further as HSBC and NatWest plan derivatives sales

摘要

Hsbc and natwest markets are both looking to sell multi-billion pound derivatives portfolios as part of a broader scaling back of their fixed-income trading divisions, according to sources familiar with the matter. The two UK banks, once formidable competitors in this area, are focusing on offloading long-dated interest-rate derivatives positions in the UK and Europe that consume large amounts of capital, the sources said, with banks including BNP Paribas, Citigroup, Goldman Sachs, JP Morgan and Morgan Stanley touted as potential buyers.