The rout in commodity markets has claimed another set of casualties, with resources specialist GMP Securities telling local employees it will exit this market, in what is believed to be a broad retreat that may include offices in London and Houston. 
The exit plan, revealed by Street Talk on Wednesday, comes as GMP decides to draw a line in the sand on its exposure to the resources sector.
Australian employees were briefed early Wednesday on the exit but few details were provided. The decision will affect as many as 15 staff across the firm's Sydney and Perth offices.
Andrew Frazer, head of GMP's local operations, declined to comment. One of Perth's biggest names, Frazer, joined GMP last   February, replacing Karl Paganin, the one-time Euroz corporate finance head who set up GMP's Perth office about five years ago.
GMP Securities is a broking, wealth management, and investment banking firm headquartered in Toronto, Canada. Including the soon to be shut Australian offices, the firm had about 15 offices around the world spanning Canada, the US, Asia and Europe.
An announcement by GMP is expected on the Toronto stock exchange late Wednesday Sydney time.
Locally, GMP's advisory work has included helping to underwrite a Triton Minerals capital raising, and also tending to Zijin Mining Group last year when it acquired a stake in Norton Gold Fields.
GMP also advised Metals X on a several acquisitions of mining assets in 2015.