  It is argued that quantum traveling of D-particles presents the
``joining-splitting'' processes of field theory Feynman graphs. The amplitudes
in $d$ dimensions can be corresponded with those of a $d+2$ dimensional theory
in the Light-Cone frame. It is shown that this Light-Cone formulation enables
to study processes with arbitrary longitudinal momentum transfers. It is
discussed that a massless sector exists which can be taken as the low energy
limit. By taking the constant relative distance in the bound-states we find a
spectrum for the intermediatory fields.
