FX Week

CIBC Globalises All Canadian Dollar Spot And Forward Business In Toronto

BANKS

Canadian Imperial Bank of Commerce (CIBC) is globalising its Canadian dollar spot, forward and short-term Canadian dollar derivatives businesses and managing them from Toronto, says Barry Wainstein, a member of the bank's trading room management committee.

"Previously, our Canadian dollar activities were run as part of the foreign exchange activities in the various regions," says Wainstein. "Over the past six months, we have been establishing a global linkage for all Canadian dollar products.