Townsend Has Layoffs
VENDOR UPDATE
CHICAGO--Trading systems developer Townsend Analytics is laying off staff members, most likely in operations and technology as maintenance of the Archipelago Exchange (ArcaEx) matching engine has moved in-house to ArcaEx, according to sources familiar with the situation.
"Townsend’s business is shifting toward market data and front ends as opposed to building matching engines," a source says. "There was probably some dead weight, but all the sales reps and product development people should still
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