Could Volcker make Toronto the next New York?

Author: Danielle Myles | Published: 7 Feb 2012

Amid talk of market making, sovereign debt restrictions and hedging exemptions, some interesting sleeper issues concerning foreign banks’ reaction to the Volcker rule proposal have escaped popular attention.

The first is talk of these banks moving their trading books to a different country to cover the US trading session. Any new location would ideally be...