Interdealer Broker FBI Acquired By MMAR, Regional Fixed-Income Broker/Dealer

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After more than a year on the auction block, Fundamental Brokers Inc. (FBI), one of six interdealer brokers of U.S. Treasury securities, has been sold for an undisclosed sum, subject to regulatory approval. The successful suitor, MMAR Merchant Banking Group Inc. of Houston, plans to use Fundamental's screen network to distribute proprietary research services to its clients.

"We see a way to clean [Fundamental] up and position it to be a profitable business," says MMAR chief financial officer

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