Tullett & Tokyo Shuts Broking In Zurich In Move To Centralise FX In Europe

BROKERS

In a move to centralise its operations, Tullett & Tokyo Forex, the money broking company, has closed down its spot FX broking operation in Zurich, which it ran as a 50/50 joint venture with Carl Kleim, the Frankfurt money broker.

U.K. and Europe managing director John Lawrence says that some of the brokers concerned have been moved to other offices.

"With the current climate, it made sense to centralise the business," says Lawrence. He says a six-strong office in Madrid was similarly closed d