Tradition launches FX desk in London

Swiss interdealer broker Tradition has launched a foreign exchange desk in London.

Neil Standen and Lee Davies have been appointed to run the team. Standen joins from Tullett Liberty, where he ran forward foreign exchange in G10 currencies. Davies also joins from Tullett Liberty, where he managed the forward euro 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.”