News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Trading

Citigroup cuts list of FX trading partners after $180m scare

US investment bank has been reviewing how it serves clients in the $5.1tn-a-day global currency markets

Citigroup cuts list of FX trading partners after $180m scare
Photo: Getty Images

Citigroup has cut the number of proprietary trading companies that it deals with in the vast foreign exchange markets, having been exposed to $180m in losses from a client’s risky bets last year.

The US investment bank has called time on relationships with a number of trading partners following a review of its foreign exchange prime brokerage business, according to people familiar with the matter.

WSJ Logo