CITI, Unfazed By Withdrawal Of Teknekron, Sets Vendor Tests
MANAGEMENT AND STRATEGY
Despite Teknekron Software Systems Inc.'s recent withdrawal from the bidding to provide a trading-room system to support 425 traders at Citicorp (TST, July 27), the bank is soldiering on with its rigorous evaluation process.
Citicorp systems staffers decline to comment except through a spokesperson, who read the following brief statement: "It is an arm's length bidding process for the three finalists, as it was for the original 15." The term "arm's length" denotes the fact that all parties in the
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