PaineWebber Chooses Oracle as Core Technology Provider

PaineWebber Incorporated has named Oracle the core technology provider of database technology for the UNIX and Windows NT platforms for the firm. PaineWebber plans to use Oracle8i to power all of its existing and new distributed applications, from e-commerce to other private client initiatives such as Stock Option Finance. More than 25,000 users in almost 400 locations will use applications built on Oracle8i.

Implementation will begin immediately, with conversion of existing applications to the Oracle database platform expected to occur over the next two to three years. When conversion is complete, Oracle8i will run all distributed applications, including the production systems in the firm's home office and 385 branches. Some of the early Oracle8i deliverables include Mail Management, Stock Option Finance, Bond Exchange and a Legal/Compliance Data Warehouse.

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