Citicorp, seeking to increase its market share in the increasingly cutthroat trust and custody business, has signed an $80 million deal with International Business Machines Corp. to overhaul its securities-processing systems.

The IBM hardware and software, to be installed in 1994, will replace much of Citicorp's aging system. The system is intended to allow customers to look at their domestic and international stock portfolios with up-to-the-minute information.

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