FX Week

Daiwa To Start N.Y. FX Desk This Week Kemper's Taylor To Spearhead Project

BANKS

In an attempt to diversify its product mix, Daiwa America Corporation, the holding company of Daiwa Securities America, Inc. will start a foreign exchange trading desk in New York that sources say will be operational within the week. Daiwa has recently hired Ross Taylor, who previously worked for Kemper Currency Inc., to formulate and manage the new desk.

"I think that many [Japanese] companies who have not been actively involved in the foreign exchange market, realize that [foreign exchange