Forex safe in Tullett sale

Smith told FX Week: "The foreign exchange business will continue to be managed by Tullett and there are no plans to lower headcount." He added that the merger, announced last week, would result in very little overlap between the firms. "95% plus of our business is in equities, while 95% of Tullett’s business is non-equities," he said, adding that Collins focuses on cash products, while Tullett focuses on derivatives and fixed income.

Collins will pay £213 million ($345 million) in shares for