Brokers react to shrinking market

Market share of global inter-dealer broking business is commonly estimated at 15% for Tullett and 10% for Prebon. "Together they won't make 25%," said a broker at one of the firms' competitors. "There will be people to mop up that market share and some of that will be mopped up by us."

Few in the market are convinced by CST and Prebon's affirmations that they will not merge both firms' broking desks or close desks as a result of the deal (FX Week, May 31). "You can't run the businesses in pa