R.P. Martin Shuts Forward Yen Desk, Australian Dollar Section In London
BROKERS
Lower commissions and escalating operating costs have forced British-based R.P. Martin PLC to close its forward yen desk as well as its spot and forward Australian dollar desks, says a source at the brokerage company.
He says that senior management decided to disband the six man forward yen desk, just one year after closing its spot yen desk. In addition, the brokerage house is also shutting down its six man spot and forward Australian dollar desk, the source adds.
Gary Klesch, chairman and chief
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