Carr Futures to close London FX

"Having one 24-hour desk will allow us to better consolidate our customer coverage and improve efficiency," said a spokesperson in New York. She declined to comment on the number of jobs that would be cut in London, but market sources expect all London FX dealers, which total about five, to leave the broker. The nine-strong FX desk in New York, managed by Max Smith, head of FX, and Marc Schultz, head of FX sales, will remain unchanged.

Market sources said the move is likely to be connected w

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