Nick Collison, founder and managing director of Saxon Financials, the UK proprietary firm, has attributed the firm’s decision to close its Warsaw office to the financial crisis and the lack of market developments in the region.
Futures and Options Intelligence reported yesterday (July 16 - see link below) that Saxon would close the office, which was opened in January 2008 and has 10 staff trading equity products on Liffe, Eurex, the CME and the Warsaw Stock Exchange.
Speaking to FOi after the report, Collison said Saxon’s expectations of the Polish and central European markets simply had not come true, so that it did not make sense to keep traders in different locations.
“The financial crisis makes it less of a proposition to have the office over there and have split...