As part of a larger effort to give individual "business units" more control over systems costs, Merrill Lynch & Co. is reexamining contracts with its 62 market data providers. Designed to curb mounting market data expenses, the measure should aid Merrill in its overall cost-cutting strategy that includes recent layoffs of 1,000 employees.
So far, Quotron Systems Inc. has been the biggest casualty of Merrill's policy, soon to be followed by Reuters Holdings PLC, says Bruce Turkstra, Merrill's
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