Piper Jaffray Builds Broker Tools -- But Not For Stockmate

BROKER WATCH

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Piper Jaffray Inc. is developing a suite of broker productivity tools with rollout scheduled for this year. But the firm doesn't plan to make these tools available for sale by Stockmate Financial Systems Inc., the market data vendor it owns 15 percent of and whose platform it uses.

Piper's customer account data, portfolio management and order entry tools will reside locally, on the same Stockmate IBM RS/6000 server that it uses to distribute Telekurs data and Dow Jones news to its 800 brokers

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