ADP Bags 2D Big Brokerage Contract; Shearson Lehman Orders Automation For 300 Branches

Shearson Lehman Brothers, Inc. has become the second major wire house this year to bolt from the Quotron Systems, Inc. fold and hire Automatic Data Processing, Inc. to provide its next-generation branch automation system. While the deal is only about one-third the size of ADP's Merrill Lynch agreement (see related story, this issue), it is significant because Shearson had been committed to a new Quotron architecture prior to Quotron's acquisition last year by Citicorp.

Details weren't released