Bank of New York Increases Market Data Expenditures

NEW YORK--For the last few years, The Bank of New York has spent increasingly more money each year on market data, says Kurt Woetzel, the Bank of New York's CIO and executive vice president of software development. He says the upward trend in market data expenditures is a result of the bank's growing business and that the bank will continue to use more data.

The Bank of New York will probably use real-time market data for its back- and middle-office needs eventually, says Woetzel. He says th