Some Deutsche Bank (DB) Clients Said to Reduce Collateral on Trades
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(Updated - September 29, 2016 12:31 PM EDT)
Some Deutsche Bank (NYSE: DB) clients said to reduce collateral on trades, according to Bloomberg.
UPDATE - According to the report, a number of funds have withdrawn some excess cash and positions being held at DB, a potential negative sign for the European institution.
The majority of DB's some 200 derivatives-clearing clients haven't made changes to their accounts, sources noted. About 10 hedge funds were said to cut their exposure, including Millennium Partners, Capula Investment Management and Rokos Capital Management.
One spokesperson for the bank commented,
Our trading clients are amongst the world’s most sophisticated investors ... We are confident that the vast majority of them have a full understanding of our stable financial position, the current macroeconomic environment, the litigation process in the U.S. and the progress we are making with our strategy
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