Lehman’s T+1 Guide


By Renee Wijnen

In February, Lehman Brothers migrated its US equities and certain fixed-income trade-processing functions from Bear Stearns to ADP. The move involved "a complete conversion of every position, balance, pending trade, open fail and reorg item out of Bear Stearns systems and onto ADP systems," says William Arnold, Lehman Brothers’ senior vice president and firmwide T+1 coordinator.

The switch means that transaction processing services that had previously been outsourced to Bear

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