Traders Magazine, December 1999
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.
All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.