Paribas Refocuses FX Business On EMS, Majors; Drops Interbank In Sterling, Scandis, Suissie

BANKS

Banque Paribas is refocusing its global foreign exchange effort with a decision to strengthen its trading desks in some currencies and products but pull back from the market in others, say officials.

According to Eric Delauney, one of two co-heads of global foreign exchange at the bank, Paribas will emphasise FX options in all currencies, spot and forward in EMS currencies, dollar/mark and dollar/yen, but will cease interbank spot and forward market-making in other currency pairs. In particu