Tradition launches FX desk in London

Their team includes Grant Fenwick, Mark Salzburg, John Draper, David Tyson and Nick Gower, all Tradition staff. Standen and Davies will both report to Robin Houldsworth, Tradition's chief executive.

The desk will offer forward foreign exchange services including all G10 currencies and arbitrage services; it previously provided G10 currency liquidity for Tradition's arbitrage operations, but will now operate as a dedicated FX team. Tradition already has FX desks in Tokyo and New York.

Houldsworth said of the launch: “We see strong potential in this market, and are committed to further expansion over the coming year to strengthen our offer.”