Merrill To Restructure N.Y. Operation Looks To Set Up Strategic Desk

NON-BANKS

In an attempt to segregate its spot and strategic currency traders, Mark Slater, head of Merrill Lynch International Bank's New York foreign exchange trading operation, is conducting an evaluation of its trading desk. Based on those results, some traders will only be allowed to trade in the spot market, while others will be shifted to the strategic desk, which currently does not exist, sources at the investment bank say.

Currently, Merrill does not segregate its spot traders from its

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