Merrill Lynch Gets Tokyo Go-Ahead; Forex Trading to Start In January
NON-BANKS
Merrill Lynch received a banking license from Japanese regulatory officials late last month and expects permission to trade foreign exchange shortly, according to Michele di Stefano, Merrill's new treasury director in Asia. He hopes to begin trading by mid-January of next year, he says.
Di Stefano recently moved to Singapore from London, where he headed the forex operation. His replacement, Mark Slater, came from New York, where he held a similar position. Slater's spot has been taken by Steve
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