Citing Regulatory Pressure, Deutsche Bank Announces Closing of Its Global Commodities Business

Will keep traders for precious metals and financial derivatives

(Reuters) - Deutsche Bank said on Thursday it is largely closing its global commoditybusiness due to mounting regulatory pressure, becoming the biggest bank yet to exit the once lucrative sector.

Germany's largest bank, which was seen as one of the top-five financial players in commodities, will cease energy, agriculture, base metals, coal and iron ore trading, it said on its website, retaining only precious metals and a limited number of financial derivatives traders.