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News & Commentary
Content tagged with Infrastructure posted in January 2013
Mandatory Electronic Exchange: Determining the Right Market Model for OTC Derivatives
Commentary  |  1/31/2013  | 
While global derivatives regulations are in various stages of implementation, there is a concern that moving bespoke swaps from low-tech, high-touch, bi-lateral voice transactions to multiple trading venues could harm liquidity, according to consultants at Sapient Global Markets.
Pimco's Gross Calls US Economy 'Supernova' on Path to Extinction
News  |  1/31/2013  | 
Bond guru Bill Gross of Pimco warned on Thursday that the U.S. economy has become too credit-reliant and is requiring more and more government stimulus to produce ever-diminishing rates of growth, much like Japan has experienced over the past decade.

Nasdaq Profit Tops Expectations As Non-Trading Revenues Rise
News  |  1/31/2013  | 
Nasdaq OMX Group reported a higher fourth-quarter profit on Thursday, as an increase in non-transaction-based revenues outweighed an industry-wide drop in trading volumes.

Deutsche Bank Swallows $4 Bln of Charges for Clean Up
News  |  1/31/2013  | 
Deutsche Bank plunged to its worst quarterly loss in four years on Thursday after it took nearly $4 billion in charges to try and draw a line under a slew of scandals and boost its balance sheet without asking shareholders for cash.

Chinese Investment Bank Builds Algo Strategies for Retail Customers, Taps Progress Apama Platform
News  |  1/30/2013  | 
Citing demand from high-net worth retail customers, China Merchant Securities is providing eight common strategies for equities and equity derivatives, and plans to expand the offering to institutional clients in the future.
Fidelity Contrafund Cut Apple Stake 3 Pct in December
News  |  1/30/2013  | 
Portfolio manager Will Danoff, whose $85 billion Fidelity Contrafund is the largest active shareholder in Apple Inc, trimmed his holdings in the maker of the iPhone by 3.1 percent in December.

Nasdaq OMX to Combine Global Data and Index Businesses
News  |  1/29/2013  | 
Exchange operator looks to combined unit for data distribution and product innovation as a revenue opportunity.
Insider Trading Escalates At Hedge Funds, Reflecting Weak Controls
Commentary  |  1/29/2013  | 
The ongoing proliferation of insider trading cases at hedge funds points to the need for more transparency into investment decisions and trading processes. One way to stop the pattern is for hedge funds to form internal control groups that scrutinize the links between investment themes and material non-public information.
U.S. Probed Media's Handling of Economic Data — Source
News  |  1/29/2013  | 
U.S. law enforcement authorities conducted an investigation into whether media companies facilitated insider trading by prematurely releasing market-sensitive government data, but decided not to bring charges, a source familiar with the probe said.

Video: The Future Of Data Management
News  |  1/29/2013  | 
Larry Tabb of TABB Group recently discussed with WS&T senior editor Melanie Rodier how firms are adapting their data management processes to the post-financial-crisis environment.
Optimizing Your Data Management Strategy in 2013
Commentary  |  1/28/2013  | 
Data governance is a trend that has moved back to the forefront of the "how to manage information" discussion.
Buy Side Needs to Assess Readiness for Derivatives Regs
News  |  1/28/2013  | 
With mandatory clearing of derivatives set to begin on March 13, Woodbine Associates provides a checklist for buy-side firms to assess their readiness for new derivatives regulations, including clearing, execution venues and pre-trade analysis.
The Kyte Group Goes Live with AlgoSpan
News  |  1/28/2013  | 
Futures commission merchant The Kite Group is tapping AlgoSpan for low-latency infrastructure and access to European exchanges/MTFs, to meet the demands of HFT clients and hedge funds.
Spain May End Short-Selling Ban as Crisis Eases
News  |  1/28/2013  | 
Spain may end its ban on short-selling stocks and bonds this week as the euro zone crisis relents, although controls could stay for bank shares which speculators targeted heavily during last year's turmoil.

Hedge Funds Jostling to Bet Against France's Peugeot
News  |  1/25/2013  | 
Hedge fund short-sellers have hoovered up nearly all available shares in Peugeot in their scramble to bet the French carmaker will be an early victim in an industry struggling to overcome a collapse in European sales.

Market Ebullience Due a Reality Check
News  |  1/25/2013  | 
Only four weeks into the new year, ebullient world stock markets have clocked up gains of more than four percent, so already there are murmurs about whether it's too much, too soon.

ICE Eyes IPO of NYSE Euronext's Equity Exchanges in Europe After Deal Closes
News  |  1/24/2013  | 
InterContinental Exchange is buying NYSE Euronext to become a global powerhouse in derivatives, but European equities are a different story.
Janus Earnings Beat Street, But Fund Outflows Continue
News  |  1/24/2013  | 
Asset manager Janus Capital Group Inc posted higher-than expected fourth-quarter earnings on Thursday, but customers continued pulling cash out of its funds.

ConvergEx to Sell OMS/EMS Platforms to TPG Capital
News  |  1/23/2013  | 
The brokerage firm signed a definitive agreement to sell its popular software business consisting mainly of Eze Castle Software and RealTick to a private equity firm, TPG Capital, which will "create two optimal businesses," the company said.
Re-Thinking Operational Risk on Wall Street
Commentary  |  1/22/2013  | 
With no let-up in the flow of operational risk accidents at major banks, firms are hiring more seasoned experts and throwing more resources at the function. But more work needs to be done.
TD Ameritrade Q1 Profit Falls But Assets Soar
News  |  1/22/2013  | 
TD Ameritrade Holding Corp said quarterly net income fell 3.4 percent from a year earlier but beat analysts' expectations on record new assets from clients.

FX Models Resurrected as Markets Emerge from Cisis Mode
News  |  1/22/2013  | 
Computer-driven funds are seizing on signals suggesting the herd-like "risk-on/risk-off" investment behaviour that has dominated currency trading since 2010 is fading.

Schroders UK Trader Held in Insider Dealing Probe
News  |  1/22/2013  | 
British police have arrested a trader at asset manager Schroders and four other men and women in the latest swoop on suspected insider dealing as part of a regulatory crackdown on market abuse.

Morgan Stanley Wealth Unit Fuels Jump in Profits
News  |  1/18/2013  | 
Morgan Stanley executives made good on their promise to reap earnings from the bank's burgeoning wealth management business, reporting on Friday that profit margins in the business soared in the fourth quarter.

State Street Shares Surge on Job Cuts, Profit Rise
News  |  1/18/2013  | 
State Street Corp said on Friday it would cut about 630 jobs worldwide, lifting its stock 5 percent, as it reported a 26 percent boost in fourth-quarter net income amid pressure from some of its largest shareholders to cut expenses.

US SEC Chairman - Cross-Border Swaps Plan at Top of Her Agenda
News  |  1/18/2013  | 
A proposal addressing how over-the-counter derivatives rules will apply overseas will be at the top of the U.S. Securities and Exchange Commission's agenda for 2013, the agency's new chairman, Elisse Walter, said Friday.

Silver Lake Hunts for Investors in Dell Deal — Sources
News  |  1/18/2013  | 
Silver Lake Partners, trying to finalize a bidding group to take Dell Inc private, is in talks with the manager of Canada's pension plan and other potential investment partners, people familiar with the matter said.

Morgan Stanley Profit Lifted By Trading, Lower Pay Cost
News  |  1/18/2013  | 
Morgan Stanley's quarterly earnings beat analysts' expectations by a wide margin on Friday, helped by a big jump in trading revenue, and the bank said it was ready to deliver better returns to shareholders.

Bloomberg Tradebook Partners with Hart Energy to Beef Up its Independent Research Offering
News  |  1/17/2013  | 
In an exclusive distribution deal with Bloomberg Tradebook, Hart Energy will create a new institutional energy research product aimed at buy side customers.
BlackRock Profit Jumps 24 Pct on Strong Equities Demand
News  |  1/17/2013  | 
BlackRock Inc, the world's largest money manager, said on Thursday its fourth-quarter profit rose 24 percent, bolstered by increased investor confidence in global stock markets.

Citigroup Profit Hit by More Than $2 Bln in Charges
News  |  1/17/2013  | 
Citigroup Inc posted $2.32 billion of charges for layoffs and lawsuits in the first financial report under its new chief executive, Michael Corbat, who cautioned that the bank needs more time to deal with the problems it faces.

Open Compute Project Releases Motherboard Tailored for Financial Services Firms
News  |  1/16/2013  | 
Financial services organizations could potentially reduce OPEX with a standardized, open source server motherboard specification that can be used for a variety of needs, such as HPC or storage.
Canada Sets Plan to Resuscitate Venture Capital Sector
News  |  1/15/2013  | 
Canadian Prime Minister Stephen Harper announced a plan on Monday to provide C$400 million ($408 million) in venture capital to stem the loss of young entrepreneurs to the United States and to rekindle investor interest in providing start-up funds for new ventures.

Funds Overweight Banks For First Time Since 2007: BofA Poll
News  |  1/15/2013  | 
Global investors turned overweight bank stocks for the first time in six years in January and boosted equity holdings to a two-year high, a survey showed on Tuesday.

How to Manage "Genius Trader Risk"
Commentary  |  1/14/2013  | 
After a series of trading blow-ups by rogue traders, meet "the genius trader," who can do even worse damage. With their superior intellect, big egos,and technical expertise, they can easily win over CEOs. But, can risk managers reign them in?
ParkRiver and MIK Team Up on Hedge Fund Compliance Solution
News  |  1/14/2013  | 
Hedge funds will turn to outsourcing providers to comply with new CFTC and NFA data reporting regulations, say ParkRiver and MIK.
ICAP Sells Stake in Traiana to Seven Investment Banks
News  |  1/14/2013  | 
ICAP has sold a stake in technology unit Traiana to seven top banks in the latest example of the world's largest broker partnering with clients on key projects in a bid to retain their long-term support.

BATS Glitch is Latest to Highlight the Complexity of the Markets
News  |  1/11/2013  | 
The complexity of modern markets means there are bound to be more events such as the systems error that led to hundreds of thousands of trades being executed improperly on BATS Global Markets over the past four years, the head of the No. 3 U.S. equities exchange said on Thursday.

The Market Data Challenge on Wall Street
News  |  1/10/2013  | 
Direct data feeds and in-house ticker plants have grown too complex to support.
Wall Street's Mission: Cutting Costs While Staying Competitive
News  |  1/10/2013  | 
With lower trading volumes and more regulations, capital markets firms look to open source and other technologies to reduce IT infrastructure costs.
BlackRock to Buy Credit Suisse ETF Business
News  |  1/10/2013  | 
BlackRock is to buy Credit Suisse's exchange-traded fund (ETF) business that will give the U.S. asset manager greater scale in Europe.

Legacy Outsourcing Requires A Delicate Touch
News  |  1/9/2013  | 
As tech budgets stagnate, banks are finding new ways to boost efficiency outside their IT walls.
Short-Sellers Circle U.S. Stocks as Confidence Wavers
News  |  1/9/2013  | 
How durable is the Wall Street bounce following last week's U.S. budget deal? Not very, some speculators believe.

Global IT Spending To Grow 4 Percent in 2013, Gartner Says
News  |  1/4/2013  | 
The figures are disappointing, the report suggests.
The Shift from 'Big Bang' Software Releases to Small Changes
Commentary  |  1/3/2013  | 
To keep pace with regulatory changes, capital markets should adopt the B2C industry's DevOp approach where organizations make numerous production releases per day, writes Sungard Global Services' David Chapman.
Numerix Updates Trade Capture App 'Portfolio' with Curve Modeling
News  |  1/2/2013  | 
The firm says the update will enable more accurate valuations for the mitigation of counterparty risk.

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