know soon whether it is on the winning or losing end of the biggest contract of its 26-year life.

At stake is the business of the Global Straight Through Processing Association, a group of nearly 60 fund managers, broker-dealers, and global custodians formed last year to promote faster settlement of trades. The group is seeking to build a system that would streamline the flow of trade data in advance of next-day, or T+1, trade settlement rules, expected to become a reality in June 2002.

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