Chicago-based Sun Trading has reduced its workforce by nearly one-third and wound down its options-trading arm due to tough conditions in the sector, The Wall Street Journal reports. The proprietary trading firm has until now laid off nearly 40 staff.

The firm, with 150-employee workforce, will now stop functioning as a registered market-maker on major U.S. stock-options markets. The firm will start focusing on its growing business in currency trading and European markets.

Click here for the story from The Wall Street Journal.