IBM developing processing system for NYSE

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Armonk, N.Y.—IBM Corp. announced it is working with the New York Stock Exchange on a new order management and messaging system, NYSE TradeWorks, for processing brokers’ buy and sell orders on the trading floor. IBM, which already had a technology relationship with the NYSE, will be providing 3,000 handheld devices for brokers, as well as custom-built Linux-based workstations.

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