With PI Systems Gone, Bierbaum Turned To Telerate For Help
MANAGEMENT AND STRATEGY
Cantor Fitzgerald L.P.'s 1992 decision to buy out system integrator PI Systems Ltd. -- and hire away its founder Marshall Caro -- left Cantor competitor Bierbaum Martin Inc. with a trading room full of unsupported data distribution software (TST, Oct. 19, 1992). Specifically, Bierbaum was stuck with an aging PI-built platform which it used to distribute prices both internally, among its own brokers, and to Dow Jones Telerate, for dissemination to would-be customers. The interdealer-broker has
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