DLJ's Pershing Seeks Vendor For Buy-Side Trade Reports

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Donaldson, Lufkin & Jenrette Inc.'s Pershing & Co. clearing subsidiary will soon pick a vendor to provide asset management accounting services to generate trade reports for buy-side clients submitting tax statements to the IRS. The move, which follows a similar initiative by Bear Stearns & Co.'s clearing operation some months ago (IMT, Dec. 13, 1991), is an attempt to attract customers by offering additional services besides traditional clearing.

Pershing executives decline to comment on any