First Boston Tech Venture Ends Neural Net Tests; May Shut Down
WORKSTATIONS AND ANALYTICS
The FB Tech Joint Venture, a quantitative trading and analytic development enterprise founded almost three years ago by First Boston Corp., may have reached the end of its useful life. The venture's staff has dwindled to five and its only ongoing business is to run a program-trading operation supported by a mere million dollars in capital.
The joint venture is 50 percent owned by First Boston and 50 percent owned by the partners of a Stamford, Conn.-based quantitative derivatives trading firm
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