Interim Kinnect chairman Michael Dawson has outlined a scaled-down vision for the future of the electronic platform in a letter to major London market players.
According to the letter, US operation Kinnect Inc will be closed, meaning development will be focused solely on London market subscription business "over the short to medium term".
Dawson said: "While ultimately the quest for efficiency inevitably encompasses the US, the near term benefit is most likely by concentrating our resources in the UK."
The ex-Cox chief executive also pointed to some of the difficulties associated with the £70m project.
He said: "The original build was giving us problems in terms of development, scale and flexibility due to a focus on short-term deadlines over the last three years."
Dawson took the helm from Toby Davies who retired as chief executive along with executive chairman Iain Saville last month.
A senior market source said: "I hope Dawson will go further in chopping back the ambitions and focusing on getting something simple that works and is useful."