Marex Spectron closes FX business

Citing 'immaterial' revenues from the business and difficult market conditions


Brokerage house Marex Spectron is to close its FX business, citing "immaterial" revenue streams from it, despite hiring for its depleted forex team only three weeks ago, FX Week has learned.

The primarily commodities broker struggled to make its currency business work, despite a number of reshuffles, and the closure of the unit comes shortly after its decision to shut its forex operations in New York. This comes after more than a decade of presence in FX.

"Demand for FX services has contracted

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