CIBC Global Restructuring Emphasises Options With A Reduced Role For Forex Market-Making
BANKS
Canadian Imperial Bank of Commerce (CIBC) is changing the treasury strategy it adopted last year, which included plans to extend its non-Canadian dollar franchise, officials say. Instead, CIBC is concentrating on its Canadian dollar businesses, currency options and proprietary trading, leaving behind its market-making efforts in the non-Canadian dollar interbank market.
CIBC had a three-prong expansion strategy last year, which included growing its Canadian dollar business, building its
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