30 Jun '14, 12am

ANZ considers expanding physical commodity trading: source - SYDNEY/SINGAPORE (Reuters) - Australia and New...

ANZ considers expanding physical commodity trading: source - SYDNEY/SINGAPORE (Reuters) - Australia and New...

SYDNEY/SINGAPORE (Reuters) - Australia and New Zealand Banking Group (ANZ.AX ) is considering expanding its physical commodity trading business as it aims to step into the gap left by the retreat of big Wall Street and European banks, a bank source with direct knowledge of the matter said. Australia's No.3 lender is set to put a proposal to launch a physical commodities trading desk to its risk committee and board in July, the source told Reuters. ANZ is looking to take advantage of its strong balance sheet and a lighter regulatory burden on Australian banks compared to rivals operating in the United States. The plan to expand physical commodities trading beyond just gold and silver comes as major global banks are scaling back the business because of rising capital requirements, regulatory scrutiny and weak margins. JPMorgan Chase & Co (JPM.N ) and Morgan Stanley (MS.N ) h...

Full article: http://www.reuters.com/article/2014/06/30/us-anz-commodit...

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