BNY Mellon to shut derivatives sales, trading business

(Reuters) – Bank of New York Mellon Corp will exit the derivatives sales and trading business that operates as part of the company’s global markets group.

“Global Markets will offer a modified version of its cash rates offering to support BNY Mellon’s investment services clients,” company spokesman Ron Summer said in an email.

The decision affects about 50 people, almost all in New York, Bloomberg said, citing a person familiar with the matter.

Read on.

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