TransMarket Group, one of the largest Chicago-based proprietary trading firms in the futures market, is to shutter its London-based European operations, as firms that trade their own capital continue to struggle to turn a profit amid falling volumes.

The firm, which employs around 350 people globally, trades in listed financial futures, commodities and equity markets. According to documents filed with Companies House and seen by Financial News, the firm began the process of dissolving its UK subsidiary, TransMarket Group Limited, in March. TransMarket Group declined to comment.