BRIEF TRANSMISSIONS

PC Quote, Inc. is preparing to unveil LAN-based system using Novell diskless PC workstations. Network uses two file servers, one for quote database, one for network control. Monthly data cost is $395 for quote server, $75 each for first five workstations, $50 for each additional workstation.

NASD is talking with SEC staffers about reducing number of screens that get free NASDAQ prices over quote link with International Stock Exchange of London. NASD began swapping quotes with ISE under pilot program in 1985. About 8,000 SEAQ and Topic terminals in U.K. display Level 2 data -- full list of market-maker bid and ask quotes -- for nearly 300 NASDAQ stocks. Under proposed plan, only market makers participating in link would continue to get prices at no charge, effectively eliminating NASDAQ data from more broadly-distributed Topic. Number of terminals in U.K. carrying free NASDAQ quotes would drop to 900. Proposal is designed to satisfy critics who think ISE shouldn't receive quotes at no charge when firms like Instinet Corp. have to pay cash for same data.

Knight-Ridder Moneycenter data will be distributed on Wang Financial's Shark system under terms of new agreement. Expect more such arrangements, says Moneycenter chief Paul Cooper, but don't look for Moneycenter to become wholesaler. "I think it's going to be a good supplementary business for us," says Cooper. "We're looking at a few selected vendors who we think are not non-competitive, but are complementary to the markets that we serve. We know that from time to time we will have lost a potential Moneycenter sale because it's available on one of these other systems, but we think that basically these people are in areas that we don't directly sell to." Cooper won't name names, but rules out major vendors in money and commodity markets. Good possibilities: S&P Trading Systems and ADP-FIS.

Prudential-Bache Securities, Inc. has formally launched house satellite network, but hasn't pressed itself on issue of using net to redistribute ADP market data (MTR, October 1986). "We really wouldn't want to digest that until we've rolled out our own network," says William Rush, senior vice president, communications. "Probably about the September-October time frame we're going to get real serious about leaning on [ADP]," which has shown "reluctance" to let data be delivered over customer network.

Bloomberg Inc. has quietly begun offering Fundamental, RMJ, Chapdelaine, and Garban prices via "Bloomberg Box," meaning Telerate, Inc. is no longer only third-party vendor of interdealer broker prices for U.S. government securities. Unlike Telerate, however, Bloomberg isn't offering broker feeds to retail market. Customers must be reporting dealers and be specifically authorized by broker whose prices are being displayed. Moreover, 12 primary dealers are embargoed from buying Bloomberg under terms of company's arrangement with Merrill Lynch. To receive broker prices through Bloomberg, dealer must conclude separate arrangement, for which broker collects monthly fee. Broker feeds delivered to Merrill are intercepted, reformatted, and integrated with Bloomberg database. Bloomberg's distribution doesn't offer dealers data they don't already get, but does allow traders, for first time, to run analyses on live broker prices within packaged commercial system.

London Stock Exchange's low-end quote broadcasting service (MTR, December 1986) is moving into beta test with plan for formal launch in fall. In change of heart, LSE has decided to offer full service on IBM-PC, and is developing expansion board option to enable it. Other features will include 50 custom pages, limit minder page. Pricing will run in 100 pounds/month range.

Telerate, Inc. formally launched Tactician, new service positioned as tool for fundamental analysis of fixed-income instruments (MTR, November 1986). Target market includes trading operations at buy-side institutions, dozen primary dealers currently embargoed by Bloomberg (brief, above), and arbitrage departments at 20 or so lower-tier reporting U.S. dealers. Tactician is PC-based package -- hardware, software and data -- running on 10 MHz AT clone Telerate gives you. Service uses 4800 bits/second broadcast data feed running proprietary Telerate protocol. Data currently available is limited to U.S. government securities dealer prices, or, for $50/month more, inside market Cantor Fitzgerald prices. Stored on hard disk is five-year historical database of daily price and yield histories for all U.S. Treasury securities. Tactician is sold in modules with basic cash market module $1,000/month, futures module additional $200/month, and options module another $400/month. Fully-loaded Tactician goes for $1,650/month.

Equatorial Communications Co., firm that revolutionized quote distribution, appears to have lost battle to remain independent. Contel ASC, which several months ago proposed to help Equatorial climb out of fiscal hole (MTR, March 1987), now plans to acquire entire company in transaction valued at about $60 million. Equatorial under Contel ownership will probably continue to emphasize building two-way VSAT business, and operate quote broadcasting business as cash cow. Exactly how Equatorial will fit under Contel umbrella hasn't been finalized. "It is our expectation -- and I use that word carefully -- that we will be maintained as a separate entity, possibly continue use of name 'Equatorial' because of the investment we've made in the name," says Ken Bentley, vice president, sales and marketing. "[Equatorial CEO] Ed Parker would report to the president of Contel ASC." Offer calls for most Equatorial shareholders to receive $4 cash for each share. Separate, more complicated agreement was negotiated with largest holder, Martin Marietta Investments, Inc.

Moving Around: Laurence Jones, president, Wang Financial Information Services, Inc., resigns....Charles McQuinn, executive vice president, Bonneville Telecommunications Co., advances to president....Paul Steinle, president, Data Broadcasting Corp., becomes acting president, Comtex Scientific Corp.