People close to the firm said the trading operations were still in the black.

Some American investment firms with big trading operations here welcomed the move.

When they started building out their trading operation we sold out of it.

"Blood will flow in Houston over the integration of the trading operation," he said.

Former competitors say that Enron's trading operation was powerful enough to set market prices.

The sales and trading operations take place in its Montreal head office.

Tuesday's quarterly results showed the dominance of the bank's trading operations.

The first trading operation at the stock exchange was carried out on September 1, 2000.

Any deal for the trading operations would not be final.

They will be joined later next year by another 700 employees from the company's trading operations in Midtown.