US high-speed trading firm RGM Advisors is to cease operations in Europe, where a more challenging trading and regulatory environment has already led to members of the niche community shutting up shop.

Richard Gorelick, chief executive of Texas-based RGM, said in a statement to Financial News: "As part of a regular review of our business strategy, RGM has decided to cease trading in certain markets to better focus on what we consider to be our best opportunities for growth, including our core businesses in the US."