Winterflood Securities, the UK-based marketmaking unit of Close Brothers, has closed the US sales office it established two years ago after a challenging trading environment last year.

The UK firm will continue marketmaking in the US and Canada, but has stepped back from a push it started in 2012 to increase order flow from US institutions, a spokesman for Close Brothers confirmed.

Winterflood Securities closes its US sales office

Winterflood Securities, the UK-based marketmaking unit of Close Brothers, has closed the US sales office it established two years ago

Sarah Krouse in New York

Close Brothers

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