Firms Cut Costs, Vendors Think IP As Everyone Faces a Post-Bridge World

NEW YORK--User firms share a common priority in 2002, one that sounds very familiar: cutting costs. As a result, market data vendors are looking for new ways to sell their services and survive.

Institutions are doing whatever they can to slice expenses. Bear Stearns has implemented a new market data management system and plans to examine vendor contracts, says Peter Esler, managing director and head of market data services.

And following last year’s Project Dante, ABN Amro is looking at replacing