After A Year Of Work, UBS Drops Plans To Have NRI Build Its Order System
MANAGEMENT ISSUES
Well over a year into the project, UBS Securities has asked Nomura Research Institute to stop work on an equity order-management and routing system that NRI had been building for the firm. The development effort was plagued with slipped deadlines, due in large part to frequent changes to the design specifications.
"The reason was not simply the bugs," says one source familiar with the project. "NRI actually has very good developers. It was more precisely that the project was not managed properly
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