Chase Manhattan Looks For Technology To Reduce Big Data Bills

BROKER WATCH

Chase Manhattan Bank's current request for proposal throws down the gauntlet to data distribution system vendors, asking them to reduce the bank's trading-room market data bills.

Were the RFP's specifications of predicted data usage followed to the letter, Chase would be facing -- two years hence -- significantly increased billing for just about all of its current vendors, especially Reuters and Telerate. Indeed, even the bank's standalone service bills would go up.

But according to Bill Sch