NAB to re-open options desk

- By FX Markets Staff
- @FXMarkets_
- 06 Sep 2004

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"The desk will open as soon as Apra is satisfied that we have met all the requirements," said a spokesperson at the bank in Melbourne last week.

Since the scandal erupted in January, NAB's FX desk in Melbourne has been limited to trading spot and forward FX. With Apra's permission the bank traded some options for clients for which it was their sole currency options provider.

In order to re-open the desk, NAB had to address a series of risk management failings, including introducing a new policy

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