Breaking news: R.J. O’Brien closes its entire FX operations – all staff made redundant
America’s oldest futures broker is to drop its entire FX business, 18 staff have made redundant and concentrate on futures trading
For North American futures trading giant R.J.O’Brien, futures certainly are the future.
Today, via sources very close to the matter, FinanceFeeds has received exclusive confirmation that R.J. O’Brien has begun closing down it entire FX division, with its traditional core business of futures trading to remain its main focus.
R.J. O’Brien & Associates is the oldest and largest independent futures brokerage and clearing firm in the United States.
As a futures commission merchant (FCM), RJO is a full clearing member of the CME Group (founding member of the Chicago Mercantile Exchange) and all its markets; IntercontinentalExchange (ICE); NYSE Liffe U.S.; and the CBOE Futures Exchange (CFE).
Research by FinanceFeeds via interacting with a number of senior futures industry executives here in Chicago this week has concluded that R.J. O’Brien is closing its entire FX operations, and that the majority of the firm’s business and long term customers are futures traders will remain operational via global offices.
Speaking to sources who are very close to this matter, FinanceFeeds has received confirmation that R.J. O’Brien is “closing its entire FX business which has impacted New York, Chicago and London, but the other futures trading operations in global locations will continue.”
FinanceFeeds spoke to o s today, who confirmed ” In recent years they have been investing in and growing FX but it has always been a futures firm at heart. They let 18 go in FX, they are still 600+ employees”
R.J. O’Brien & Associates, LLC (RJO) is the oldest and largest independent futures commission merchant (FCM) in the United States, and is considered one of the last boutique firms in the industry. It is a privately held business majority owned by the O’Brien family of Chicago.
It is quite clear that, here in the Midwestern metropolis which is home to the largest and most advanced derivatives changes in the world, the regulators and the companies participating, many of which are vast and highly respected, considers its core principles of sole commercial value.
