WestLB Seeks Global Control

FRONT PAGE: DATA CONSUMERS

German investment bank WestLB is looking to bring regions outside of its main offices in the UK, Europe and the US under the control of its new global market data team.

The bank combined its European and US market data groups into a single entity last year. The move, combined with the implementation of a market data management system (IMD, April 19), allowed the bank to eliminate duplicated services and negotiate global deals. As a result, WestLB was able to slash its market data budget by mo