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Citi to beef up hybrid trading

News reports suggest Citigroup is preparing to follow in the footsteps of Goldman Sachs, JP Morgan and Morgan Stanley in forming a regional hybrid trading desk in Asia.

Derivatives Week says the new desk will be a standalone joint venture between the debt and equity divisions, staffed by an initial team of three people.

At present, Citigroup markets hybrid products in Asia, but relies on London and New York to trade them.

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