Optimark’s Cost-Cutting Shuts Down Nasdaq and PCX Operations
TRANSACTION SYSTEMS
JERSEY CITY, N.J.--Optimark, which operates an electronic matching system, announced it would suspend its equity trading operations on Nasdaq and the Pacific Exchange and eliminate 110 jobs in the hope of reducing its costs significantly.
Earlier this month, the company revealed that it was low on funds and was exploring opportunities to sell its equities business. Optimark hopes the suspension of its equity marketplaces and the reduction of its workforce by nearly half will reduce the company’s
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