15 December 2017
visit http://response.ncr.com

Deutsche Bank bans mobiles from trading floors

26 July 2005  |  8150 views  |  0 mobile call

Deutsche Bank has banned the use of mobile phones at its trading rooms in a bid to make it easier to monitor traders' conversations with clients.

According to a CBS MarketWatch report, a spokeswoman for Deutsche Bank has confirmed that a formal ban on mobile phones has been put in place to make sure the bank can monitor all the calls made.

Although most banks have strict restrictions on the use of mobile phones in trading rooms, some are going a step further by imposing a total ban on them.

Last month the Wall Street Journal reported that Goldman Sachs had banned mobile phones from its global trading rooms following an internal investigation into allegations that traders at its London operations were using mobile phones to call favourite clients to inform them of tip offs. Acccording to the report, the investigation showed there was no wrongdoing.

The MarketWatch report cites John Tattersall, chairman of the financial services regulatory practice at PricewaterhouseCoopers, who says due to the Markets in Financial Instruments Directive regulations, it is possible that by 2007 all banks in Europe will be required to record all phone calls - not just those made from the trading floor.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

NYSE overturns direct voice communication ban

NYSE overturns direct voice communication ban

08 February 2002  |  2643 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.response.ncr.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10340 views comments | 17 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9641 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9082 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7667 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7285 views comments | 15 tweets | 24 linkedin

Featured job

Find your next job