During the summer, headlines of Deutsche Bank (DB) trading clients pulling collateral sparked grave concern over the world's most systemically dangerous bank. Today, the stock is sliding once again as WSJ reports the bank said it would cease providing some coverage for about 3,400 actively trading clients in its global markets division, according to a memo sent to equities staff.

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The memo to equity sales, sales trading and structuring staff said the move is with “immediate effect," according to The Wall Street Journal.

A Deutsche Bank spokesman confirmed the contents of the memo.

It follows a detailed review by the trading division of the German lender’s client list “to identify clients with whom it is not strategically viable for us to continue to do business,” according to the memo from Dixit Joshi.

The action is aimed at balancing “risk, revenue and profitability,” according to the memo. The cuts affect Institutional Client Group debt and equity sales, sales trading and equity structuring clients, according to the memo.

The question is - what knock-on effect will the liquidation of these 3,400 trading clients' collateral have on markets... and Deutsche Bank's risk.