LONDON, Sept 3 BNP Paribas, France's
biggest bank, has shut its emerging markets proprietary trading
desk in London, resulting in the departure of two senior
traders, a person familiar with the matter said.
The desk invested money on behalf of the bank. Tougher
regulations, including the Dodd-Frank Act in the United States,
has limited the risks banks can take with their money.
Jean-Luc Alexandre, who ran BNP's emerging markets prop
desk, left in mid-July, according to the Financial Conduct
Authority's register of industry staff. Philippe Fourcade, a
trader on the desk, left on Aug. 20, the register showed. Both
are now listed as inactive on the register.
(Reporting by Steve Slater; editing by Susan Thomas)