AT&T Is Surprise Bidder On PaineWebber Project


PaineWebber Inc. is taking an innovative approach to technology procurement for its 225-position institutional equity trading floor system. Instead of selecting a single systems integrator, PaineWebber is inviting a group of suppliers to participate in an 18-month selection process at their own expense.

Off-the-shelf trading systems don't interest PaineWebber. By turning the selection process into a research and development exercise with "the best minds out there showing us what's around,"

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