One Year Ago In Derivatives Week
Royal Bank of Scotland began selling equity derivatives to affluent customers in eastern China via Bank of Ningbo. The move was significant because traditionally RBS had stuck to distribution deals with the big four commercial banks--the Industrial and Commercial Bank of China, Bank of China, China Construction Bank and the Agricultural Bank of China. [Last month, RBS completed a gold-linked range accrual issue with ICBC in the form of one-year structured deposit denominated in Australian dollars.]
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