PaineWebber Is Set To Upgrade Buy-Side Order-Routing System


PaineWebber Inc. is upgrading its order-routing utility in the hopes of placing it with 50 to 100 buy-side clients. Aside from adding quantitative analytics to the system, PaineWebber may also add a crossing network facility that would execute equity orders at low cost and without market impact.

PaineWebber's effort is one of several attempts by Wall Street firms to provide buy-side clients with order-routing and analytical services in a bid to attract order flow. Firms that have developed s

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