NOMURA MOVES TRADERS TO COMBINED FLOOR

The FT reports that Nomura is set to become one of the first global investment banks to move its fixed-income and equities traders on to combined trading floors, in a stark reminder of the pressure to reduce costs in the sector.

Steve Ashley, Nomura’s head of global markets, said the bank’s 1,500 sales and trading staff across its London, New York and Hong Kong offices would move to combined trading floors in the next few months. Mr Ashley said he was also assessing the prospect of merging Nomura’s fixed-income electronic trading platform with Instinet, its electronic brokerage.

See on www.ft.com