DJT Close To Buying Alternative To Reuters' Dealing 2000-1 Service

DEALING & NETTING

Dow Jones Telerate is close to finalizing an agreement to purchase Bankers Network, a UK-based start-up that has developed a low-cost alternative to Reuters' Dealing 2000-1 conversational transaction service for foreign exchange, sources say.

The Bankers Network service 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 world-wide.

An official at Bankers Network and Telerate's spokesperson decline to comment. Ho