Dutch market maker Van der Moolen Specialists is cutting 30% of its US workforce as the New York Stock Exchange shifts all of its listed securities to a hybrid trading model.

Van der Moolen said the staff cuts will result in a one-time charge of around $1.3m (€998,000) in the first quarter of 2007. The firm expects an annual saving of around $4.5m as a result of the job reductions.