Smith Barney Gets Tough On Billing
DATA CONSUMERS
Smith Barney Inc., which recently completed a massive trading room market data distribution system rollout at its new 390 Greenwich St. headquarters (IMD, June 19), has changed the way in which it pays its bills and negotiates its contracts with data and technology vendors. The new approach, which calls for vendors to give the broker a thorough explanation of their billing methods before getting paid, could have an affect on a diverse group of vendors, including ADP and Reuters -- the two
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