Exco Noonan Ceases NY Spot Coverage As Last Desk Closes

BROKERS

Jersey City-based Exco Noonan has ceased spot FX broking following the hire by Tullett & Tokyo of its eight-strong spot dollar/mark team, officials at both shops confirm. The dollar/mark desk was the last remaining forex desk Exco had in New York, having closed its dollar/yen and Scandi desks earlier this year (FXW, February 24 & March 31, respectively).

"This move was made with the full knowledge and co-operation of Exco Noonan's management," says Merv Wilkinson, managing director of FX at T