Tradition Merges Lausanne Options Unit Into London


Tradition Financial Services has merged its currency options brokerage in Lausanne, Switzerland with its London options desk, says the chief options broker in London, Sam Saffadi. Last month three of Tradition's six options brokers in Lausanne moved across the Channel.

"We were willing to have anyone who wanted to come," says Saffadi. Tradition has replaced the lost traders with one new hire, a transfer of a trainee from its spot bullion desk, and the transfer of senior trader Tim McGarr fro