NatWest UK, and it has a large network of over 960 branches and 3,400 cash machines across Great Britain and offers 24-hour "Actionline" telephone and online banking services. Today, it has more than 7.5 million personal customers and 850,000 small business accounts. In Ireland, it operates through its Ulster Bank subsidiary. In 2017, NatWest was awarded Best Banking App in the British Bank Awards. The bank's origins date back to 1658 with the foundation of Smith's Bank of Nottingham. The creation of the modern bank was announced in 1968, and National Westminster Bank Limited commenced trading on 1 January 1970, after
Proprietary trading bodies worldwide require that the proprietary trading desk is kept separate from its client-related activity and trading. This is achieved by the use of information barriers (also known as "Chinese walls"), which prevent conflict of interest which might, for example, allow a Bank to front-run its own customers. There often exists confusion between proprietary positions held by market-making desks (sometimes referred to as warehoused risk) and desks specifically assigned the task of proprietary trading. Because of recent financial regulations like the Volcker Rule in particular, most major banks have spun off their prop trading desks or shut them down altogether.