Telerate Buys Bankers Network, Pushes For 3Q96 Release Of Service
TRANSACTION SYSTEMS
As expected (D&IS, 1 July), Dow Jones Telerate has completed its acquisition of the UK-based startup Bankers Network. The Bankers Network system, which was designed as a low-cost forex and money transaction service, runs on a private network utilizing Internet technologies.
Telerate is currently in the process of adapting the Bankers Network system to run on the vendor's own frame-relay communications network and is pushing for a commercial release of the product this fall.
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