FX Week

Shearson To Open FX Trading Desk In Japan? 1st Qtr. ‘91 Start? Regulatory Hurdle Remains

NON-BANKS

According to a source at Shearson Lehman Brothers Inc. in New York, the securities firm plans to "set up a [foreign exchange] trading operation [in Japan] during the first quarter of 1991," pending regulatory approval.

Assuming Japan’s Ministry of Finance (MOF) allows them to open the desk, the source says Shearson will not re-deploy personnel from other treasury centers but will "build [the desk] entirely from the Japanese marketplace."

"I think the [Japanese] give us the most experience a