Quotron Sells TSS To ADP, Quits Trading Room Market
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Quotron bowed out as a vendor of data distribution systems for sell-side trading rooms last week, as parent Citicorp sold off a number of its ailing subsidiary's assets to archrival ADP. The sale gives ADP a perpetual license to Quotron's Trading Support System (TSS) local data distribution software -- a license which sources say ADP will use to gain a toehold of its own in the trading room.
In the deal -- signed Dec. 31 and expected to close in late February -- ADP comes away with Quotron's
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