Fidelity Turns Into Retail Quote Vendor, With Maxxess System

DATA CONSUMERS

As Fidelity Management & Research Co. proceeds with plans to offer a homegrown quote system to customers of its correspondent brokerage business, word has emerged that it is doing so as a market data vendor. Seeking hard dollars, Fidelity has begun selling its Microsoft Corp. Windows-based quote service to clearing customers -- having packaged it for customers under the name Maxxess.

The system was developed over the past four years by a unit of Fidelity called Fidelity Brokerage Technologies