Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Japan's Nomura plans to suspend part of cash-prime brokerage business - source

Stock MarketsJul 07, 2021 12:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Investors stand in front of a screen showing the logo of Nomura Holdings in Tokyo, Japan, in this December 1, 2015 file photo. REUTERS/Toru Hanai/Files

TOKYO (Reuters) - Nomura Holdings (NYSE:NMR) Inc plans to suspend part of its cash-prime brokerage business after sustaining a $2.9 billion hit from the collapse of U.S. investment fund Archegos, a person familiar with the matter said on Wednesday.

The move comes after Nomura, Japan's top brokerage and investment bank, reviewed its prime brokerage business and vowed to enhance risk management in the wake of the Archegos loss.

Specifically, Nomura plans to stop prime brokerage services using U.S. and European cash stocks, the source said. The person declined to be identified as the matter was private.

The bank will continue cash-prime brokerage services with Japanese and Asia stocks, as well as the prime brokerage business with U.S. stock derivatives, where the bank has strengths, the source said.

Nomura declined to comment.

The partial suspension, first reported by Bloomberg, would have little impact on earnings, according to the source.

Despite the Archegos loss, Nomura chief executive Kentaro Okuda has said the bank has no plans to make major changes to its global business expansion strategy.

Japan's Nomura plans to suspend part of cash-prime brokerage business - source
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email