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At Deadline

Traders Magazine, December 1999

John A. Byrne


It wasn't a Merry Christmas at OptiMark Technologies. The supercomputer matching system for institutional traders said it was planning to hand out more pink slips in the New Year. The reduction follows an earlier cutback of 54 jobs, or roughly 14 percent of a 389-person workforce. The retrenchment comes as OptiMark's average daily trading volume dipped to as low as 285,000 shares, having reached a high of 1,150,000 last September. In recent months the volume has climbed back down to 716,000 shares daily.

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