19 October 2017
Find out more

Merrill to outsource private client data systems - FT

26 July 2002  |  3867 views  |  0 Merrill to outsource private client data systems - FT

Merrill Lynch is preparing to outsource its entire data and transactions system for private client stockbroking in a deal estimated to be worth at least $1 billion over five years, according to a report in the Financial Times.

The FT report names Bloomberg of the US, Reuters of the UK and Thomson-ILX of Canada as bidders for Merrill's private client data system. The US investment firm is expected to name the winning bid in the next few weeks.

According to the paper, the contract is believed to involve more than 27,000 computer terminals along with data supply, system maintenance and software systems.

A spokesman for Merrill Lynch told the FT: "This would be a single system for the bank globally, which would be expected to deliver significant cost savings."

KeywordsOUTSOURCING

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Merrill Lynch outsources contract staff management to Beeline

Merrill Lynch outsources contract staff management to Beeline

09 July 2002  |  2763 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com visit www.fivedegrees.nl

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15818 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8953 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8051 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7147 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6288 views comments | 6 tweets | 3 linkedin

Featured job

Find your next job