Merrill Outsourcing Private Client Data
DATA CONSUMERS
Merrill Lynch plans to outsource its data platform and back-office operations for its private client group, according to a report in the Financial Times last Friday.
Bloomberg, Reuters and Thomson Financial are reportedly bidding for the project, which has been valued at more than $1 billion over five years. According to sources, the contract will cover real-time news and data, terminals, system maintenance and Merrill’s intranet for Merrill’s private client stockbrokers and fund managers.
The new
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