LOOSE CHANGE

LOOSE CHANGE

Senior officials at R.P. Martin have confirmed that the brokerage laid off about 20 brokers in London just before Christmas last year. Most of those cut worked in the money market and deposit area rather than foreign exchange -- in fact, say the executives, the firm is currently advertising to hire senior foreign exchange brokers in London. Martin is expanding its desk in certain specialities, and also needs to replace a few spot traders lost at the end of last year. "I know there have been