Getco Cuts Staff With Trading Volumes Thin

Reuters/Chip East

Financial Times – By Arash Massoudi – June 14, 2012

Getco, the electronic trading and market-making firm, has cut almost 10 per cent of its work force.

The dismissals, which were disclosed on Wednesday and took place last week, signify the challenges faced by one of the pioneering high-frequency trading firms amid anaemic volumes on volatile financial markets.

High-frequency traders, who utilise technology and deal in millisecond speeds, contribute nearly half of the volume on US and European markets in equities, options and futures.

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