ADP And CITI Finally Cut Deal For Crossmar
VENDOR STRATEGIES
Following months of intense negotiation -- and industry speculation -- Citicorp and ADP have struck a deal for some of the assets of Crossmar Inc., the bank's foreign exchange and fixed-income market data vending unit. However, the particulars of the deal may not be exactly what some have anticipated: ADP purchased only Crossmar's Global Report market data feed, leaving the remainder of the vendor's operations in Citi's hands.
Officials at ADP and Citicorp decline to comment on the cost of the
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