HSBC Midland, the treasury and capital markets unit of London-based HSBC Holdings, has reorganized its New York foreign exchange interbank marketing, shifting its operations to London.

Interbank foreign exchange market making in New York, which ceased operations Oct. 7, employed 55 people in New York - 25 dealers and 30 in operations and finance. Many of the New York jobs were cut, but some price making employees were kept on.

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