Belgium dumps Deutsche Bank as primary dealer

London

BELGIUM'S debt management office has axed Deutsche Bank as a primary dealer for 2016 after conducting a performance review of all its market makers.

With the decision, Deutsche Bank becomes the second big bank to drop out of a sovereign primary dealership this year as the industry continues to grapple with the full impact of new regulation on its business.

"Every year the Belgian debt agency evaluates existing primary dealers on the basis of their performance in the current year," said Anne Leclercq at the Belgian debt agency. "Hereupon it suggested the …