Telerate Eyes Firm Offering FX Trading Via 'Net Technology

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Dow Jones Telerate is close to finalizing an agreement to purchase Bankers Network, a UK based start-up that has developed a low-cost alternative to Reuters' Dealing 2000-1 conversational trading service for foreign exchange trading. The Bankers Network system makes use of a private Internet and has been installed on a test basis at a number of banks worldwide.

An official at Bankers Network and Telerate's spokesperson decline to comment. However, other sources say that the two have been talking

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