Harlow Butler Ueda Justifies Relocation Of Spot Cable from London To New York

BROKERS

London-based Harlow Butler Ueda is closing its spot sterling desk, while its New York-based affiliate, Harlow Meyer Savage, is boosting sterling coverage. The reorganisation is meant to free the London operation to concentrate on sterling crosses, primarily sterling/Deutsche mark, according to Harlow officials.

Although the move to take any sterling product out of its home base seems unusual, Harlow officials explain that "spot cable is now perceived to be a dollar-based product," and that

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