Telerate To Acquire Internet-Able FX Service, As EBS Buys CDR (Plus: Valenti Steps Down)

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Dow Jones Telerate is close to finalizing an agreement to purchase Bankers Network, a UK-based startup that has developed a low-cost alternative to Reuters' Dealing 2000-1 conversational trading service for foreign exchange trading. The Bankers Network system runs on a private network making use of Internet technologies and has been installed on a test basis at a number of banks worldwide. Meanwhile, at press time, word emerged that the EBS Partnership--in which Telerate is a participant through

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