Telerate Buys Bankers Network Targeting Autumn Release

DEALING & NETTING

As expected, Dow Jones Telerate has completed its acquisition of the Bankers Network, a UK-based start-up (FXW, July 8). The Bankers Network, which was designed as a low-cost forex and money trading system, runs on a private network using Internet technologies. Telerate plans to release the system this fall, say officials.

The Bankers Network system is comprised of four parts: Forex.Net is a low-cost alternative to Reuters Dealing 2000-1 conversational trading service. Similarly, Treasury.Net