CORE DUMP

TGB Corporation, the new interdealer government securities broker founded by Henry Wattson, is reportedly close to getting the commitments it needs to begin operations. Sources say Wattson has attracted three or four of the top primary Treasury security dealers to participate in TGB. Wattson plans to slash commission rates for government securities brokerage.

Ascom Banking Systems Ltd. of Solothurn, Switzerland has won a $12 million contract to supply a foreign exchange information and trading system for a 140-position Credit Suisse dealing room in Geneva. Ascom's INDEX (Integrated Dealer Exchange) system is based on standard DEC hardware and communication protocols, and includes a proprietary multicast protocol. The installation will integrate digital data distribution with a video switching system.

Yamaichi International's nascent London banking arm has dropped plans to install Forex Advisory Services Ltd.'s Integrated Dealer Support System. While FAS officials blamed the setback on a corporate decision by Yamaichi in Tokyo, the securities firm denies this without further comment.

Industry observers, meanwhile, say the decision more probably stemmed from FAS's tardiness in delivering the system because of commitments to other clients. FAS, a small software house, has signed IDSS contracts with the London banking arms of the three remaining Big Four Japanese securities firms, as well as several other players, including Banque Nationale de Paris.

Data Logic has officially launched two products on show at London's Computers in the City exhibition last November. The Series-500, aimed at the top end of the trading systems market, joins the Series-100 and the Series-300 in Data Logic's range of dealer workstations. The new machine provides access to all major digital and video feeds, as well as clients' in-house computers for proprietory information.

It also provides access to such decision support vehicles as the second new Data Logic product -- the Trader Workbench. Data Logic says the system cuts development time for analytical applications in the dealing room.

Contel IPC, the Greenwich, Conn.-based vendor of dealing room turret systems, is definitely not up for sale. Street talk that the firm was recently rejected after offering itself for sale to Japanese rival Hitachi, which sells the Terminator system (formerly the HD-6), and to British Telecom's CBP subsidiary is unfounded, says president Welsley Smith. He adds, though, that Contel receives frequent purchase offers from would-be suitors.

Also from the match-made-in-heaven-department, sources in the City have set up a persistent buzzing about the possible acquisition of Micrognosis Inc. by Telerate Inc.. While the move might make sense for both firms, there is doubtless no foundation whatsoever to the rumor.

ADS Associates of Calabasas Cal. has upgraded its Global Trader Workstation software for microcomputer-based fixed income securities trading. The application's new risk reporting feature allows users to view positions and unrealized profit and loss in near real time sorted by client, by security, by trader or groups of traders. Pricing for any issue can be based on market price, yield, or the spread to any selected benchmark issue. ADS' Global Trader now includes a yield spread matrix comparison of 19 different securities against each other. Applications are available for U.S. Treasuries and agencies, mortgage-backed securities, Eurosecurities, municipal bonds, money markets and futures.

Track Data Corporation of New York has announced an updated version of MarkeTrack dubbed MX-386. The Intel-80386 microprocessor-based quotation service adds several new features to standard MarkeTrack: linked real-time spreadsheets, dynamically updated graphics, an electronic billboard, instantaneous options price displays, and a mouse-driven windowing environment.