Financial Firms Continue To Focus on Cost Cutting
In this year’s economic downturn, the obvious ways for financial firms to save money were to cut staff and budgets, including the budget for market data.
Merrill Lynch, Goldman Sachs, Morgan Stanley, Lehman Brothers and other major firms made thousands of redundancies in 2002. For market data vendors, this meant fewer positions and falling revenues.
Financial firms took aggressive steps to control costs or to bring them down. Dutch bank ABN Amr
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