Clear Street poaches metals traders from LME floor trader Sigma, sources [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
outcry trading floor, has poached three metal traders from Sigma Broking, two sources familiar with the matter said. A unit of the broker, Clear Street Futures headed by Chris Smith, is planning a major expansion in LME metals trading, one of the sources said. Smith was previously the London-based global CEO at ED&F Man Capital Markets, acquired in 2022 by Marex, another LME broker. "Chris has been a presence in metals trading for a long time," the second source said. "Starting a metals trading operation, any trading operation, is a major undertaking." Two of the Sigma traders going to Clear Street Futures were previously at ED&F Man Capital Markets with Smith, the sources said. Clear Street and Sigma did not respond to Reuters' requests for comment. Industry sources say Smith is also in the process of hiring sales staff and will be looking to hire operations people. Clear Street's plan for floor trading or Category 1 membership of the LME would take the number of dealing
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