Wall Street Firms Gang Up On Data, Telecom Vendors

THIS WEEK'S LEAD STORIES

Competition, not camaraderie is the norm among Wall Street firms - except, of course, when it comes to skyrocketing financial information and telecommunications costs. With sluggish markets and sinking volumes turning technology managers into penny pinchers, firms are increasingly joining hands to combat the service vendors that squeeze them for more and more cash.

Cooperative market data alternatives are so popular that two independent groups of operations and capital markets executives wer

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