Data Broadcasting Corp. (DBC) has completed its acquisition of Los Angeles-based Capital Management Sciences (CMS), a privately held fixed-income analytics provider. The acquisition was for $23.7 million in cash, stock and notes--plus some additional contingent payments based on future performance, according to a DBC spokesperson. CMS's founder, James Kaplan, will join DBC's board of directors, and also continue on as head of CMS. CMS has been growing lately: It generated $5.3 million in

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Systematic tools gain favor in fixed income

Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.

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