Cognotec Shrinks Staff in NY, Hires in Singapore
VENDOR UPDATE
LONDON--Irish foreign exchange (FX) trading software vendor Cognotec is making a small number of redundancies in sales, marketing and support in response to continuing uncertain market conditions, officials say.
"Our core customers are doing pretty well, and the volume of transactions from clients [over our systems] was up by 52 percent year-on-year in January," says Cognotec CEO Brian Maccaba.
But, with a down economy and banks continuing to cut staff and budgets, "there is not a lot of strategic
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