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May 4, 1988

LOGICA CHOOSES LONDONCLEAR FOR SOFTWARE DEVELOPING

By CBR Staff Writer

Logica Plc, London has been chosen by LondonClear Ltd as principal contractor to develop software for the automation of the daily clearing and settlement of money market instruments: LondonClear was established last year by 36 financial institutions to oversee the changeover to electronic transfer from the current method of exchanging securities and payments documents by physical delivery.

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