Hedge Funds Slash Trading Teams

Oct 10 2012 | 12:25pm ET

Hedge funds are aggressively cutting back on their trading staffs as weak trading volumes left those teams with less to do.

Some 44% of hedge funds have cut their trading-desk budgets since last year, according to a Greenwich Associates survey. A similar number, 43%, said they were in the process of cutting costs.

Just 17% said they were boosting their trading budgets.

Greenwich said that hedge funds appear to be cutting more aggressively than other institutional investors; it blamed low trading volumes for hurting revenue at the desks.

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