Nomura rolls back EMEA equity financing business
27 April 2016 London
Image: Shutterstock
Nomura Holdings has confirmed it will be stripping back its equity financing operations throughout Europe, the Middle East and Africa (EMEA).
The Japanese bank plans to close its EMEA equity derivatives, delta one trading and equity futures and options business.
Equity underwriting and equity research will also be wound down.
Nomura will maintain a presence in London from which it will continue to offer repo, stock loans and total return swaps services to its EMEA clients.
Its global prime brokerage service will remain intact.
The confirmation comes shortly after Nomura initially announced plans for widespread closures of some business lines in the EMEA and the Americas in order to consolidate its position in Asia.
The Japanese bank cited “extreme volatility and a significant decline in liquidity, triggered by heightened uncertainty in the global economy” as the driver behind the closures.
“We are taking decisive action to refine the services we offer to our clients, while continuing to leverage our dominance and unique strengths in Asia, providing tailored solutions to our clients globally and continuing our 90 year legacy of putting clients at the heart of everything we do,” said Tetsu Ozaki, COO of Nomura Group.
The Japanese bank plans to close its EMEA equity derivatives, delta one trading and equity futures and options business.
Equity underwriting and equity research will also be wound down.
Nomura will maintain a presence in London from which it will continue to offer repo, stock loans and total return swaps services to its EMEA clients.
Its global prime brokerage service will remain intact.
The confirmation comes shortly after Nomura initially announced plans for widespread closures of some business lines in the EMEA and the Americas in order to consolidate its position in Asia.
The Japanese bank cited “extreme volatility and a significant decline in liquidity, triggered by heightened uncertainty in the global economy” as the driver behind the closures.
“We are taking decisive action to refine the services we offer to our clients, while continuing to leverage our dominance and unique strengths in Asia, providing tailored solutions to our clients globally and continuing our 90 year legacy of putting clients at the heart of everything we do,” said Tetsu Ozaki, COO of Nomura Group.
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