Quotron and 10 Banks Put Up $45M To Develop EBS; But Lloyds Passes

TECHNOLOGY

The EBS Partnership has announced that ten member banks plus Quotron Systems have coughed up a total of $45 million in capital to fund development of the Electronic Broking Service (EBS), a system that is expected to rival Reuters Holdings PLC's Dealing 2000-2 service launched last month. Partnership chairman Peter Bartko says that figure includes some $6 million already spent on the project. Contributions will be divided equally amongst the 11 participants.

Originally, the list of partners i