Deutsche Bank shutters precious metal trading amid cuts

Deutsche Bank, Europe's biggest investment bank, is exiting physical trading of precious metals as it scales back its securities unit to improve returns.

Some parts of the business may be shifted to other units of Deutsche Bank and the firm will continue to trade derivatives linked to precious metals, a London-based spokesman for the bank said in a statement today.

Global banks are exiting or paring back their commodities arms as regulators order them to increase buffers for potential trading losses and avoid a repeat of taxpayer-funded rescues. Deutsche Bank's move is part of an overhaul of its securities unit to help boost profitability and increase the proportion of capital on its balance sheet by shrinking assets. ...

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