MANAGEMENT BRIEFS

At press time, word emerged that Automatic Data Processing Inc. has agreed to purchase Stockmate Financial Systems Inc. According to an ADP spokesperson, the vendor--which markets the leading North American stock quote system under the aegis of its Financial Information Services unit--has signed a contract to buy "certain assets" of Stockmate. (FIS was previously known as ADP's Brokerage Information Services Group, or BISG.) Specifically, she says, ADP will soon own Stockmate's installed base of 2,300 retail quote terminals--most of them at Piper Jaffray Inc. and Davenport & Co.

Thomson Financial Services Inc.'s First Call Corp.'s Quantitative Services Division is making its Real Time Earnings Estimates (RTEE) service available on Track Data Corp.'s GIT/Infovest, a database management and analysis system that includes online access to fundamental data. First Call is also making RTEE available via both Randall-Helms International Inc. and Computerized Portfolio Management Services Inc. (CPMS). Randall-Helms, based in Chatham, N.J., provides global equity data and analytical tools. Toronto-based CPMS, a so-called fundamental fiscal data and investment analysis software vendor, will make RTEE available through its U.S. Equity Market Service.... First Call has also signed a distribution agreement with CDA Investment Technologies CDA/Investnet.

General Electric Information Services released version 3.0 of its Ordex system for routing futures/options orders to and from brokers. GEIS first launched Ordex a year ago; it runs under Microsoft Corp.'s Windows 3.1 on PC terminals, supported by Hewlett Packard Co. Unix-based host clusters in the U.S. and in Amsterdam.

Dun & Bradstreet Corp.'s Interactive Data has installed at all of its existing clients its new Fundrun 5.0 software, which provides pricing, corporate action and descriptive data on funds. The product is aimed at mutual fund companies, fund sponsors and global fund custodians--who would use it during off hours, according to Christopher Jones, Fundrun product manager.

From the Dailies: Merrin Financial ran a classified ad seeking a director of consulting and integration services. Experience is required.... T. Rowe Price, a Baltimore-based investment manager, is looking to hire a fixed-income specialist with PC spreadsheet skills. The lucky candidate will work closely with the portfolio manager of several municipal bond funds.

The Chicago Stock Exchange plans to develop and install an automated trading system for the Quito, Ecuador-based Quito Stock Exchange. Slated for a December installation, the system will be the first Latin American automated system designed by a U.S. exchange, according to the CHX.

Alliance Capital Management L.P. and investment software vendor and consultant Ibbotson Associates Inc. are touting their portfolio management training course--which the two have been giving together since 1992. Interestingly, Alliance used to deliver the course in conjunction with Barra Inc. According to Scott Lummer, Ibbotson managing director, Alliance opted to go with Ibbotson instead of Barra because Ibbotson, unlike Barra, already has an extensive business as a producer of seminars and classes. Lummer says Ibbotson is already much more involved in the collaborative endeavor than Barra ever was. Despite the partnership, however, Barra doesn't use any of Ibbotson's products "in a major way," says Alliance vice chairman Bruce Calvert. "We have access to the software, but do we use them to manage money? Not really. We're not currently using it as a money management tool." Calvert also says that Ibbotson gives Alliance no price breaks; as a potential customer, he says, Alliance is "just like everyone else."