Daiwa Closes London Convertible-Bond Principal Trading Desk
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Daiwa Securities Group Inc. closed its London principal-trading desk for convertible bonds as Japan’s second-largest brokerage reviews the profitability of its operations abroad.
The firm shut the business this month, Misato Kinoshita, a Tokyo-based spokeswoman, said by phone today, while declining to comment on the size of the trading operation in the U.K. city.