Telerate Set To Buy Bankers Network; Startup Offers Rival To Reuters' D2-1
TRANSACTION SYSTEMS
Dow Jones Telerate is close to finalising an agreement to purchase Bankers Network, a U.K. based start-up that has developed a low-cost alternative to Reuters' Dealing 2000-1 conversational transaction system for foreign exchange. The Bankers Network system makes use of a TCP/IP virtual private network and Internet technologies and has been installed on a test basis at a number of banks worldwide, including Societe Generale in Hong Kong.
An official at Bankers Network and Telerate's spokesperson
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