First Union Turns to Multex for Enterprise-wide Research Delivery.NEW YORK--(BUSINESS WIRE)--Dec. 7, 1998-- Over 30 Leading Brokerage Firms Now Use MultexEXPRESS(tm) Multex announced today that it has signed an agreement with First Union Corp. (NYSE NYSE See: New York Stock Exchange : FTU FTU Foreign Trade University (Hanoi, Vietnam) FTU Federation of Trade Unions (Hong Kong, China) FTU Formal Training Unit FTU Florida Times-Union (newspaper) ), the sixth largest bank in the nation, to develop an enterprise-wide technology solution for disseminating financial research and company documents to the Capital Market Group's customers and employees. This includes the Fixed Income, Economics, and Quantitative groups based in Charlotte, and the Equity group, Wheat First Union (formerly Wheat First Butcher Singer) in Richmond. Also, beginning today, all of First Union's equity, fixed income, economic, and quantitative research Quantitative research Use of advanced econometric and mathematical valuation models to identify the firms with the best possible prospectives. Antithesis of qualitative research. will be available in real time through Multex to their institutional clients. With this agreement, First Union Capital Markets will employ MultexEXPRESS(tm), the brokerage industry's leading enterprise-wide solution for research and financial document distribution. Since the product's launch in October 1997, over 30 leading firms have entered into agreements with Multex for the deployment of a MultexEXPRESS site, including Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Goldman Sachs, and PaineWebber. MultexEXPRESS provides sophisticated security and document entitlement features that enable investment firms to deliver documents to their employees and clients while controlling access. Multex's open architecture and flexible design allows for a complete, customized solution seamlessly integrated into any existing Web-based infrastructure. "Our new relationship with First Union points to the success we are gaining in the industry as more and more companies are turning to us for a complete solution for their financial document distribution needs," said Isaak Karaev, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Multex. "Working with Multex allows us to both improve our delivery of online investment research while enhancing internal technology," said Ken Berents, director of equity research for Wheat First Union. "With MultexEXPRESS, we are able to make our research available to over 2,500 customers and employees in real-time and also provide an important resource for financial documents." About First Union Capital Markets First Union Capital Markets is a division of Wheat First Securities, Inc., a separate, broker-dealer, non-bank affiliate of First Union Corporation (NYSE: FTU). Wheat First Securities, Inc., a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , Inc. and the Securities Investor Protection Corp., provides a full range of investment banking products and services including asset-backed finance, public finance, syndicated loans, private finance, equity underwriting, and investment grade and high-yield debt finance. First Union Corporation (NYSE:FTU) is a leading provider of financial services to more than 16 million retail and corporate customers throughout the East Coast and the nation. First Union is the nation's sixth largest bank holding company, based on assets of $229 billion as of June 30, 1998, and ranks among the top 15 financial services companies in the world, based on market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . The company operates full service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Pennsylvania, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Tennessee, Virginia and Washington, D.C. About Multex Multex is a leading provider of online investment research and information services See Information Systems. designed to meet the needs of institutional investors, investment banks, brokerage firms, corporations and individual investors. The Company's services enable timely online access to over 850,000 research reports and other investment information from more than 400 leading investment banks, brokerage firms, and third-party research providers worldwide. Coverage includes research on over 18,000 companies in over 85 countries. More than 400,000 investors and financial professionals, including mutual funds managers, portfolio managers, institutional investors, brokers and their clients, have access to Multex's services. |
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