Wall Street And Tech - All Stories

Thain Reemerges at CIT Group

Tue, 9 Feb 2010 11:03:57 EST

CIT Group, a lender to thousands of small businesses and retail chains, has hired former Merrill Lynch Chief John Thain as its top executive.

Fed Begins Planning for Economic Recovery

Tue, 9 Feb 2010 11:03:57 EST

The Federal Reserve bank is likely to use a variety of options to slow the economy when the recovery is stronger, bank officials said.

International Center for Financial Regulation Launches Activities in Asia

Tue, 9 Feb 2010 10:16:35 EST

The ICFR, headquartered in London, is the product of cooperation between 19 leading financial services companies and provides training, scholarship and thought leadership on financial regulation.

Wall Street Firms, Hedge Funds, Recruit CIA, Ex-Military Intelligence

Mon, 8 Feb 2010 16:04:24 EST

Wall Street firms and hedge funds are actively recruiting former CIA and military intelligence officers in a bid to boost their security and risk management practices.

Man Pleads Guilty to 'Pump-and-Dump' Hack

Mon, 8 Feb 2010 11:19:17 EST

An Indian man has pleaded guilty to U.S. charges he conspired to hack into online brokerage accounts and manipulate stock prices in a pump and dump scheme.An Indian man has pleaded guilty to charges he conspired to hack into online brokerage accounts and manipulate stock prices in a "pump and dump" scheme.

LCH.Clearnet and SIX x-clear Publish Interoperability Link Summary

Mon, 8 Feb 2010 09:55:45 EST

Maintains that interoperability can be safe for CCPs across Europe, and this model withstood the Lehman default.

NYSE Technologies Selected to Build Technology Solution for ASEAN Exchange Network

Mon, 8 Feb 2010 09:34:18 EST

The ASEAN Exchange Network will link capital markets in Malaysia, Philippines, Singapore and Thailand.

Trading Technologies Sues Cunningham Trading Systems and Interactive Brokers

Fri, 5 Feb 2010 10:38:15 EST

Some of the patents relate to its MD Trader product, the order-entry screen incorporated in its X_Trader software.

Optimum Lightpath Introduces 40 Gigbit Service In New York Metro Area

Fri, 5 Feb 2010 10:36:28 EST

The new service is geared to meeting the bandwidth, speed, low latency and security demands of the financial community.

Forex Social Network Announces Relationship with Thomson Reuters IFR Markets

Thu, 4 Feb 2010 14:32:33 EST

Currensee is the first Forex trading social network that connects traders from around the world based on real-time trades.

Boston Options Exchange Selects Firm58 For On-Demand Billing

Thu, 4 Feb 2010 14:21:16 EST

Firm58 replaces BOX's in-house billing system and provides exchange participants with online access to trade details and balances.

Pricing Partners Launches Price-it VaR

Thu, 4 Feb 2010 09:21:19 EST

With the recent unpredictable market movements, the accurate calculation of VaR, risks and stress tests on complex products has become a crucial issue, the vendor says.

Sybase Acquires Aleri to Enhance Real-Time Analytics Product Suite

Wed, 3 Feb 2010 22:05:41 EST

Sybase expands analytics product stack, gains Aleri customer base, plans to enter new markets and will leverage Aleri's GUI and performance capabilities.

AIG Expected to Pay Reduced Bonuses

Wed, 3 Feb 2010 11:49:21 EST

American International Group (AIG) plans to pay $100 million in bonuses this week to employees in its Financial Products division, the group that nearly destroyed the company.

Madoff-Linked Firm Wins in Court

Wed, 3 Feb 2010 11:49:21 EST

A federal judge in New York dismissed federal regulators' complaints against a small brokerage firm co-founded by swindler Bernard Madoff.

ISE Makes Minority Investment in Hanweck Associates

Wed, 3 Feb 2010 10:19:27 EST

ISE to capitalize on Hanweck's high-Performance GPU-Based computing, and low-latency market data for options analytics.

BGCantor Market Data Launches On-Demand Service with Xignite Platform

Tue, 2 Feb 2010 23:06:52 EST

BGCantor says on-demand financial market data can reduce costs for customers in the middle and back office.

The Perils of a Financial Services Transaction Tax

Tue, 2 Feb 2010 12:10:33 EST

A financial transaction tax could generate $150 billion in income, but it could also hurt retail investors in the long run.

Paulson Says Bank Pay is 'Out of Whack'

Tue, 2 Feb 2010 10:41:37 EST

Former Treasury Secretary Henry Paulson Jr. said he thought bankers were overpaid even before the financial crisis gave the issue prominence.

Goldman Sachs Jumps on $100 million Blankfein Payday Report

Tue, 2 Feb 2010 10:41:36 EST

A Goldman Sachs spokesman called a report that Chief Executive Officer Lloyd Blankfein was to receive a $100 million bonus check "speculative nonsense."

Exegy Deploys Ultra-Low Latency Ticker Plant on Options PIPE Platform

Tue, 2 Feb 2010 10:05:55 EST

Both buy-side and sell-side firms may now leverage the Exegy Ticker Plant as a fully optimized and managed proximity-hosting service powered by the Options PIPE platform, the vendor said.

Why the Industry Is Changing Options Symbology

Mon, 1 Feb 2010 15:25:02 EST

The options industry has outgrown five-character options symbols and is converting to a more-descriptive format that will help investors understand the instruments they are trading.

Celeritas Selects Exponential-e to Support Ultra-Fast Algorithmic Trading

Mon, 1 Feb 2010 10:44:42 EST

Exponential-e connects Celeritas to FX markets in London and New York via ultra-fast network.

INDATA Releases Intelligent Portfolio Management Platform

Mon, 1 Feb 2010 10:22:20 EST

INDATA iPM, Intelligent Portfolio Management, is a new platform and set of technologies for buy-side firms that allow end users to collaborate in real-time across the enterprise.

CME's OTC CDS Clearing Service to Use CMA DataVision

Mon, 1 Feb 2010 10:21:31 EST

CME will utlize DataVision for pricing and intra-day risk management in the clearing and settlement of CDS trades.

Options Symbology Deadline Looms

Mon, 1 Feb 2010 08:10:03 EST

Brokers, exchanges, clearing firms and vendors are working to complete an exhaustive conversion process and phase in new options symbology before the February 12 deadline.

Insider Trading: Can It Be Stopped?

Fri, 29 Jan 2010 15:45:02 EST

With the SEC under pressure to salvage its battered reputation, the regulator has been acting with new-found zeal to eliminate insider trading.

SEC Asks Public Companies to Disclose Climate-Related Risks to Investors

Fri, 29 Jan 2010 11:39:51 EST

Faith-based organization, ICCR, warns that compliance with SEC will create "lag time"

Bain Capital Ventures Anticipates XBRL Boom With EDGAR Online Investment

Fri, 29 Jan 2010 10:15:29 EST

$12 million stock purchase to help EDGAR grow and invest in technology for 2012 SEC XBRL deadline.

Continuity Software Releases RecoverGuard 5.0 For Business Continuity

Fri, 29 Jan 2010 10:09:32 EST

Customers can track and remedy violations, breaches and risks to data and application availability faster and more easily than before.

ExlService Announces Four New Services To Reduce Cost

Fri, 29 Jan 2010 09:16:58 EST

The provider of outsourcing and transformation services said its new offerings will also help clients achieve greater operational effectiveness and efficiency.

Former SEC Lawyer Guilty of Securities Fraud

Fri, 29 Jan 2010 07:13:00 EST

A Dallas lawyer who once worked for the SEC has been convicted of conspiracy and wire and securities fraud.

Frank in Davos Says Bank Reform is Coming

Thu, 28 Jan 2010 11:34:09 EST

Rep. Barney Frank, chairman of the House Financial Services Committee, said a financial reform bill could be signed into U.S. law within months.

Wesley Clover Announces Enhanced Directory Application for IP Voice Trading Platform

Thu, 28 Jan 2010 10:40:55 EST

The enhanced directory application will triple the number of button appearances on the IP Turret to 296 and to 248 for the IP Traderphone.

TheMarkets.com Adds 100 Asian Brokers Contributing Research

Thu, 28 Jan 2010 09:57:21 EST

Global research platform now has 700 brokers publishing content, quadrupling the number from one year ago.

Fidessa Ready With High-Speed Interface To Korea

Wed, 27 Jan 2010 10:41:20 EST

New development is a pioneering initiative to the Korean market, where many systems continue to run under limited speed, according to a release.

Brinker Capital Signs Multi-Year Contract With Fiserv For Trading Solutions

Wed, 27 Jan 2010 10:19:49 EST

Under the extended agreement, Brinker Capital, which manages approximately 20,000 accounts on the Fiserv platform, will use three flagship Investment Services solutions: APL(SM), Investment Management Solution and Model Management Solution(SM).

Voltaire Announces Industry's First 40 Gb/s InfiniBand Switch

Tue, 26 Jan 2010 10:28:59 EST

Delivers sub-microsecond latency in a compact device and is ideal for co-located low-latency trading, vendor says.

Back Office: Time to Pay the Piper

Mon, 25 Jan 2010 16:20:03 EST

With increasing complexity and the need for more highly automated operations, the back office will require increased innovation and continued investment.

Celfin Capital Develops Electronic Trading Capabilities With Fidessa

Mon, 25 Jan 2010 10:43:19 EST

The partnership will allow Celfin Capital to receive Chilean and Peruvian equity flow, opening up an essential conduit to Latin American markets for brokers and asset managers globally.

Corvil Releases Latency Management Center

Mon, 25 Jan 2010 10:18:58 EST

The Latency Management Center will provide a single access point to monitor and manage latency in large or geographically dispersed trading environments.

Thomson Reuters Launches NewsScope Direct for Traders Out of London and Chicago

Mon, 25 Jan 2010 09:41:56 EST

Provides market-moving machine readable news to high frequency traders in London and Chicago.

Transamerica Finds Back-Office Efficiency, Accuracy Through Insourcing

Mon, 25 Jan 2010 08:45:04 EST

Asset manager saves money and improves the accuracy of data by pulling fund administration back in-house.

Futures Exchange ELX Blends Hosted and Homegrown Ops Platforms

Mon, 25 Jan 2010 08:45:03 EST

Billing and member communications are two of the functions for which the nascent exchange has turned to software as a service.

Document Automation Helps Diversified Investment Advisors Decrease Ops Budget by $1.3 Million

Mon, 25 Jan 2010 08:45:02 EST

Print-on-demand capabilities help investment advisory firm eliminate manual document generation processes.

10 Trends That Are Reshaping the Wall Street Back Office

Mon, 25 Jan 2010 08:35:02 EST

With new regulations on the way and calls for greater scrutiny and transparency into how financial instruments are priced and cleared, the importance of a strong back office is destined to receive a lift this year. Here are 10 developments that are reshaping Wall Street's operations departments and the technology they use.

Obama Seeks New Bank Restrictions

Fri, 22 Jan 2010 09:34:38 EST

President Barack Obama proposed new limits on the size and scope of financial institutions to curb excessive risk-taking and protect taxpayers.

With Profits, Goldman Sachs Adjusts Bonuses

Fri, 22 Jan 2010 09:34:38 EST

Goldman Sachs says it earned $4.95 billion September through December and will set aside $16.2 billion for staff for the year.

Accounting for Stock Options Requires Comprehensive System, Says OptionEase CEO

Thu, 21 Jan 2010 12:02:28 EST

OptionEase CEO Kim Kovacs says on-demand system can help companies comply with complex stock option accounting rules and avoid penalties.

Morgan Stanley Ups Pay Ratio

Thu, 21 Jan 2010 11:02:23 EST

New York financial giant Morgan Stanley said it earned $413 million in the fourth quarter and increased its ratio of compensation to employees.

The Search for Alpha: Analyzing Unstructured Data

Thu, 21 Jan 2010 08:40:02 EST

Researchers and Wall Street firms are analyzing the avalanche of Internet content -- including news feeds, blogs and Twitter posts -- to help improve trading performance.

Citigroup Posts $1.6 Billion Loss for 2009

Wed, 20 Jan 2010 11:48:14 EST

Banking giant Citigroup said it lost $1.6 billion in 2009, largely due to a $10.1 billion fourth quarter payment to the Treasury Department.

Fed Invites Congress to Review AIG Rescue

Wed, 20 Jan 2010 11:48:13 EST

Federal Reserve Chairman Ben Bernanke said he would welcome a congressional review of the central bank's bailout of AIG.

BlockCross ATS Picks FIX Flyer's FIX Engine and Daytona for Monitoring

Wed, 20 Jan 2010 11:23:09 EST

Block trading ATS uses FIX Flyer's Daytona to monitor FIX sessions with counterparties in real time.

Equinoxe AIS Implements SunGard's Asset Arena Investment Accounting Solution

Wed, 20 Jan 2010 10:11:12 EST

Equinoxe is a full-service alternative investment fund administration company headquartered in Bermuda with subsidiaries licensed and regulated in Ireland and Mauritius.

SWIFT Bank Data Sharing Accord in Jeopardy

Tue, 19 Jan 2010 11:02:42 EST

An interim deal allowing U.S. authorities to access data on European bank transactions in SWIFT's European data centers requires adjustments, a European parliamentary group said.

Guidance Software Releases Version 4 of E-Discovery Solution

Tue, 19 Jan 2010 10:27:55 EST

Executive Compensation Limits Could Have Far-Reaching Consequences

Tue, 19 Jan 2010 10:05:03 EST

The pay czar, the banker tax, pending legislation, shareholder lawsuits and a popular revolt all are vying to change Wall Street compensation.

Quant Capital Deploys Aleri CEP Technology for Algorithmic Trading

Fri, 15 Jan 2010 10:18:38 EST

The investment firm chose Aleri for its performance capabilities and added benefits like its visual optimization features, it said.

Bloomberg Launches VICON Interface into CDS Clearing Facilities

Fri, 15 Jan 2010 09:26:35 EST

Provides first neutral interface that connects buy-and sell-side to two central clearing counterparties for processing CDS trades.

Taxpayers Want TARP Money Back, Obama Says

Fri, 15 Jan 2010 09:15:33 EST

An angry President Barack Obama called for a fee to be levied on big financial institutions to repay the U.S. taxpayer bailout funds they received.

CME Elevates Ian Wall To Head Enterpise Architecture

Thu, 14 Jan 2010 12:32:19 EST

After completing the Nymex Clearport integration for OTC products, Wall was tapped for larger IT role at CME.

Jefferies Joins Tradeweb's Government Bond Electronic Trading Platform

Thu, 14 Jan 2010 11:51:53 EST

Jefferies further expands its fixed income product offering by joining Tradeweb's electronic marketplace for government bonds.

FaceTime and YellowJacket Partner on Integrated Message Compliance Solution

Thu, 14 Jan 2010 09:46:05 EST

YellowJacket's IM transaction and interaction logs can now be seamlessly stored in FaceTime IMAuditor, which also archives messages from Reuters and Bloomberg, in addition to traffic from other instant messaging and unified communications platforms.

FINCAD and SAS Collaborate to Provide Banks with Enterprise Risk Management

Wed, 13 Jan 2010 11:03:20 EST

FINCAD and SAS said together they will give clients one of the broadest cross-asset class derivatives and fixed income analytics libraries that uses industry-standard models.

Bank Julius Baer Deploys GFI FENICS Enterprise As Global System

Wed, 13 Jan 2010 10:49:01 EST

Swiss bank utilizes GFI FENICS Enterprise for pricing of FX options and analyzing portfolios.

BOFA Looking Not Near, But Far, for CFO

Wed, 13 Jan 2010 10:07:03 EST

Bank of America's new Chief Executive Officer Brian Moynihan said the financial giant's next chief financial officer would come from outside the bank.

Alpha Capture Systems Measure the Value of Sell-Side Trade Ideas

Wed, 13 Jan 2010 08:00:02 EST

To drum up commissions, sell-side sales professionals increasingly are communicating trade ideas to buy-side clients via alpha capture systems such as youDevise's Trade Information Monitor, which provide performance metrics around the trade ideas.

Thomson Reuters Goes Live with New Market Data Delivery Solution for TSE Arrowhead

Tue, 12 Jan 2010 10:52:41 EST

The flexible delivery options offered by Thomson Reuters Data Feed Direct offers all clients open access to full market depth information with microsecond data normalization, distribution and ease of integration within applications, according to a release.

An Examination of 2010 IT Spending: The World Isn't Flat

Tue, 12 Jan 2010 07:35:02 EST

While overall IT spending may appear flat, analysis of underlying spending patterns reveals some definite strategic ripples.

Gelber Group Selects OneTick for Tick Data Management and Analytics

Mon, 11 Jan 2010 10:14:47 EST

Proprietary trading firm will use OneTick to consolidate data management and analysis to one high-performance platform.

FundQuest Selects Managed Portfolio Advisors as Overlay Manager for UMA

Mon, 11 Jan 2010 09:57:35 EST

Features of MPA's overlay management capabilities include offering financial advisors the ability to create asset allocation and investment strategy combinations that can be fully customized for each client.

FXall Joins CLS Bank to Mitigate Settlement Risk

Mon, 11 Jan 2010 09:55:16 EST

FXall's Settlement Center will automatically recognize CLS-eligible trades and support CLS matching, so that CLS mismatches can be identified.

Exclusive: 2010 IT Spending to Rise 6%, CIOs Cautiously Optimistic

Fri, 8 Jan 2010 08:30:02 EST

Capital markets firms will spend almost $42 billon on technology globally in 2010, up from an expected $39.7 billion in 2009 and $41.8 billion in 2008, according to a soon-to-be-released study from Aite Group.

Janus Hires Ex-Pimco Exec As New CEO

Thu, 7 Jan 2010 10:03:43 EST

Weil, who had been Pimco's COO for nine years, replaces interim CEO Tim Armour.

Newedge Is First Foreign Broker to Get Korean Futures License

Wed, 6 Jan 2010 11:12:56 EST

Newedge to offer all products listed on the Korea Exchange, including equities and derivatives, as of Jan. 4, 2010.

Aite Group Expands Institutional Securities & Investments Coverage

Wed, 6 Jan 2010 10:30:13 EST

The Boston-based consultant firm is boosting its capital markets coverage with two new hires, including its first ever Europe-based analyst.

Northern Trust Expands Capabilities for Independent Valuations of OTC Derivatives

Wed, 6 Jan 2010 09:56:25 EST

The derivatives industry, regulators, investors and our clients globally are demanding increasing independence and transparency for OTC derivative valuations, Northern Trust said.

Sucden Financial Selects Brady for Base Metal Options Pricing

Tue, 5 Jan 2010 11:22:06 EST

Commodity, futures and options broker will provide clients with ability to price all LME-traded derivatives in real time.

China's Fund Management Industry Grows 40% in 2009

Tue, 5 Jan 2010 11:21:05 EST

The year was marked by a flight from money market funds, and to a lesser but significant extent, fixed-income funds, according to Z-Ben Advisors.

SS&C Buys Tradeware Global Corp

Mon, 4 Jan 2010 12:03:23 EST

The acquisition expands SS&C's electronic trading offering in the broker/dealer market on a global basis, adding around 250 clients and 60 staff based in New York and London.

Citi Sells LavaFX to FXall

Mon, 4 Jan 2010 10:18:39 EST

Citi says multibank platform is best owned by multi bank provider.

SunGard Collaborates With Brazil's BM&F Bovespa Exchange

Mon, 4 Jan 2010 09:59:59 EST

Sungard and Brazil's BM&F Bovespa Exchange will develop clearing support for U.S futures commission merchants.

What Is the Middle-Office Role in Data Management?

Wed, 30 Dec 2009 09:15:03 EST

Firms' middle offices must validate data in near real time before it is sent downstream.

Evaluating Outsourcing Options

Mon, 28 Dec 2009 08:45:02 EST

The technology and capabilities of outsourced portfolio management systems offer functionality that is comparable to their installed counterparts. But not all outsourced solutions are created equal.

Pricing Partners Incorporates the Portfolio Function Into Price-It Library

Wed, 23 Dec 2009 10:11:44 EST

Designed for all major assets like interest rates, equity, inflation, credit, foreign exchange, commodities, and life insurance to hybrid products, Price-it comes either as a software tools or an internet platform.

SunGard Releases New VPM Portfolio Accounting Solution For Hedge Funds

Tue, 22 Dec 2009 10:44:12 EST

SunGard's VPM version 9.0 provides hedge funds with an enterprise-level portfolio accounting application that is built on a service-oriented architecture for plug-and-play integration with a firm's existing applications.

FBI Investigates $10 million Citigroup Hack

Tue, 22 Dec 2009 10:32:39 EST

It is not yet known whether thieves gained access to Citibank's systems directly or through third parties, according to the Wall Street Journal.

LSE Takes Control Of Rival Trading Platform Turquoise

Mon, 21 Dec 2009 10:24:22 EST

Turquoise was set up four years ago by Merrill Lynch, Goldman Sachs, Deutsche Bank, Citigroup, Credit Suisse, Morgan Stanley and UBS.

Deutsche Borse Systems Deploys Corvil's Precision Latency Monitoring Service

Mon, 21 Dec 2009 09:08:33 EST

Deutsche Borse becomes the first exchange to provide latency distribution statistics and member latency ranking.

China Businesswoman Sentenced To Death for $56m Investor Fraud

Fri, 18 Dec 2009 09:40:52 EST

Wu Ying used the money for personal use and operating costs and to pay off loans, according to reports.

BATS To Compete with NYSE and Nasdaq for Listings

Fri, 18 Dec 2009 08:43:15 EST

Kansas City exchange hopes to attract small companies, exchange-traded funds.

Deutsche Bank Completes Solar Power Project

Thu, 17 Dec 2009 15:07:19 EST

Solar panels to generate 12% of the power consumed by the firm's Piscataway, N.J. office.

Putnam Investments Survey Finds Americans Hopeful About 2010 Economy

Thu, 17 Dec 2009 11:18:59 EST

Consumers make "saving more" their top New Year's resolution.

Integral Offers Hosted Solution For FX Algorithmic Trading Firms

Thu, 17 Dec 2009 10:04:56 EST

Co-located in data centers with FX Grid, Integral's global inter-institutional connectivity and trading network, the service virtually eliminates latency, according to the vendor.

Delaware Investments to Outsource Back Office to BNY Mellon

Thu, 17 Dec 2009 09:44:39 EST

Extends long-term relationship with new investment accounting, performance and risk analytics and back-office services utilizing BNY Mellon's Eagle technology platform.

SEC Charges Former Employees of Global Firms in Serial Insider Trading Scheme

Wed, 16 Dec 2009 15:26:01 EST

According to the SEC's complaint in the case, financial executives exchanged illegal tips through coded text messages and yellow sticky notes.

Trading Technologies and Mizuho Securities USA Expand Global Relationship

Wed, 16 Dec 2009 11:28:31 EST

They will co-market Trading Technologies' high-speed X_TRADER order-entry software to Mizuho's existing and prospective global customer base.

Chi-X Global Hires Steven Silberstein As CIO

Wed, 16 Dec 2009 10:06:03 EST

Former Lehman executive will oversee technology used by the international operator of alternative trading venues.

FundQuest Launches New On-Demand Reporting Technology For Advisors

Tue, 15 Dec 2009 10:12:28 EST

Advisors are facing new pressures and need to satisfy client requests for increased communication and deliver new types of information on-demand, FundQuest says.

BNY Mellon Asset Servicing Forms Outsourcing Group

Tue, 15 Dec 2009 09:44:46 EST

Lou Maiuri, CEO and chairman of Eagle Investment Systems, becomes global head of outsourcing.

Credit Suisse Goes Live with Traiana for Retail FX

Mon, 14 Dec 2009 11:45:39 EST

Credit Suisse will use Traiana's post-trade processing solution to match and aggregate forex trades from retail brokers.

Quod Financial Connects To NYSE Arca Europe And Smartpool

Mon, 14 Dec 2009 10:44:37 EST

Adaptive smart order router identifies most efficient dark and lit execution venues for European securities.

U.K. Spread-Betting Firm to Price Options Using Streambase CEP

Mon, 14 Dec 2009 08:30:00 EST

City Index hopes that performing Black Scholes and other pricing calculations in a complex event processing toolkit will allow it to quickly offer new products to retail "investors" who bet on the markets.

Cantor Fitzgerald Hopes to Bring Spread Betting to Las Vegas Casinos

Mon, 14 Dec 2009 08:00:00 EST

Brokerage's Cantor Gaming subsidiary already makes markets for spread betting in the U.K. and sports wagering in Las Vegas resorts. Next, it hopes regulators will permit spread betting in Nevada.

Quant Fund Athena Capital Says FPGA-Based Feed Handler Lowers Latency

Fri, 11 Dec 2009 10:01:16 EST

Altera- or Xilinx-based Platforms Offer Low Latency and Reduced Power Consumption

SWIFT's Restructuring in North America Includes Layoffs

Thu, 10 Dec 2009 15:02:06 EST

SWIFT's Commercial group reduces staff as part of plan to cut $132 million in global operating expenses.

Cynergy Financial Using Egnyte Cloud Storage Hybrid

Thu, 10 Dec 2009 12:41:31 EST

For a financial services firm concerned about accessing files over the internet, a local network-attached storage setup that replicates data to Egnyte's cloud offers an answer.

IBM Survey Finds Companies Rely Heavily on Business Intelligence

Thu, 10 Dec 2009 11:33:39 EST

Among 400 business and IT leaders surveyed, most use dashboards and visualization tools.

RTS Realtime Systems Offers Low-Latency Access to London Stock Exchange Group Markets

Wed, 9 Dec 2009 11:52:13 EST

RTS is providing hosted-access to LSE Markets through the RTS London primary and secondary data centers.

SunGard Enhances FastVal Independent Valuation Service

Wed, 9 Dec 2009 10:34:12 EST

SunGard's FastVal 3.0 provides financial institutions with transparency of the models and underlying market data used in the valuation, as well as enhanced Greeks, greater functionality in the running of intra-day valuations, and coverage of market data across a multitude of securities.

Bursa Malaysia to Upgrade Its Ticker Plant

Wed, 9 Dec 2009 10:03:56 EST

Growing trade volumes at the tropical exchange have driven it to implement Thomson Reuters' RMDS.

Prognosticating About 2010 and the Magic 8-Ball

Wed, 9 Dec 2009 08:15:03 EST

Regulatory changes, electronic trading solutions and international policy will dominate 2010. How so? 'Reply hazy, try again.'

Xignite Offers Options Data On Demand

Tue, 8 Dec 2009 10:54:59 EST

iVerit to launch a new iPhone application for options traders in 2010 using the Xignite services.

Cisco, Savvis Partner to Support Private Clouds

Tue, 8 Dec 2009 10:06:58 EST

Savvis to use Cisco's all-in-one server/network/storage device in its data centers.

CME Group Thrives on Technology Innovation

Mon, 7 Dec 2009 16:10:02 EST

As the operator of the Chicago Mercantile and other exchanges, CME Group's competitive advantage increasingly is built on technology innovation.

How BNY Mellon Built A Firm-Wide BI Platform

Mon, 7 Dec 2009 15:51:49 EST

Business intelligence is giving BNY Mellon's institutional salespeople views of projects and performance; in some cases they know more about a client's business than the client does.

Algo Provider Deep Value to Use NYSE's Hosted Ticker Plant

Mon, 7 Dec 2009 11:40:15 EST

Deep Value will test and fine-tune algos via the hosted ticker plant, which NYSE says handles 1.2 million messages per second.

ISE Picks RCN Metro's Optical Fiber Network

Mon, 7 Dec 2009 10:00:21 EST

RCN Metro will connect ISE's data center sites and support migration to ISE's new options trading system in Q4 2010.

Solarflare, Cloudsoft, Citrix Partner to Build High-Speed Clouds

Mon, 7 Dec 2009 09:51:08 EST

Cloud development platform and network switch adapters can enable 4.6 Gbps data speeds for internal clouds, the vendors say.

2010 Technology Forecast Is Anyone's Best Guess

Mon, 7 Dec 2009 09:45:02 EST

With the economy sending mixed signals, predicting how capital markets firms will spend their technology dollars is a difficult, though not impossible, task.

Mutual Funds and Cost Basis Compliance: Plan Now to be Prepared in 2012

Mon, 7 Dec 2009 08:05:07 EST

The fund industry's procrastination in implementing cost basis reporting systems may have a dramatic impact on investor satisfaction over the long-term.

ACTIV Financial Expands U.S. and European Operations to Equinix Singapore Data Center

Fri, 4 Dec 2009 11:27:24 EST

ACTIV clients are seeking additional hosted direct feed solutions to support their high frequency trading requirements in the region, the vendor said.

Annuities' Popularity to Push Brokers/Advisors to Automate, Aite Says

Thu, 3 Dec 2009 17:00:26 EST

Annuity investments within IRAs are expected to reach $510 billion at the end of next year, Aite Group estimates. The surge in volume will drive brokerages and investment advisors to step up from the manual, paper-based processing of annuities that takes place today, the firm says.

Princeton Financial Systems launches New Data Management Solution

Thu, 3 Dec 2009 10:20:08 EST

MIG21 reduces data-related errors before compliance check.

Market Data Spending Dipped Slightly in 2009

Thu, 3 Dec 2009 09:48:25 EST

Burton-Taylor projects modest 1.46% drop in market data spending; Bloomberg and Thomson Reuters share 61% of the market, but FactSet has had the fastest growth in market share.

Why Knight Capital Is Charging Into Carbon Trading

Wed, 2 Dec 2009 12:07:45 EST

New head of carbon trading, Daniel Braun, plans to open a carbon trading desk in London in Q1 2010.

Broadridge Taps Susan Certoma As SVP and COO

Wed, 2 Dec 2009 12:05:02 EST

Former Wachovia CIO will oversee product strategies for Broadridge's Brokerage Processing Services business.

Industry Aims to Secure Cloud

Wed, 2 Dec 2009 08:55:04 EST

The obstacle to large financial firms' use of public clouds has been security, but industry groups and vendors are working to fix this. And internal clouds, protected within a firm's own firewalls, are under construction. By Penny Crosman

AdaptivCool, Bluestone Partner to Provide Rebate-Worthy Data Center Makeovers

Tue, 1 Dec 2009 10:33:58 EST

Offering energy efficient IT design and cooling technology — intended to win rebates from local energy utilities — to data centers in parts of New York, Massachusetts, Nantucket, New Hampshire and Rhode Island.

Fiduciary Trust Upgrades Wealth Management Platform

Tue, 1 Dec 2009 09:52:33 EST

Using Sungard software for trading, reporting and client service.

Thomson Reuters Adds Company Events to Machine Readable News Offering

Tue, 1 Dec 2009 08:44:25 EST

The solution will automatically extract key data from US company press releases for use in event driven trading strategies.

Concept Capital And SAS To Offer Portfolio Analytics For Hedge Funds

Tue, 1 Dec 2009 08:41:46 EST

The solution includes a client Web portal with access to customized risk reports and interactive analytics that will permit a multitude of views.

CBOE to Use Aqumin Business Intelligence Tools

Mon, 30 Nov 2009 09:56:06 EST

To turn data into easily interpreted visuals.

Alpha Trading to Measure Latency Using Corvil

Mon, 30 Nov 2009 09:39:07 EST

Latency monitoring software said to be good at detecting "microbursts" or microsecond-long spikes in traffic.

Credit Suisse Hires Celoxica For Low-Latency Trading and Market Data

Mon, 30 Nov 2009 09:07:58 EST

Celoxica will provide hardware-accelerated trading and market data technology for Credit Suisse's next generation electronic trading platform.

Capital Markets to Broaden Use of Hosted Software in 2010

Mon, 30 Nov 2009 08:55:03 EST

Still-tight budgets and small IT staffs will drive Wall Street firms' preference for renting software rather than buying it. By Penny Crosman

Trade Bank of Iraq Enters FX Community via Thomson Reuters Dealing

Wed, 25 Nov 2009 09:39:29 EST

TBI is the first bank in Iraq to connect to the international FX community using Thomson Reuters Dealing trading service.

South Africa's PIC Live on Charles River Investment Management System

Wed, 25 Nov 2009 09:20:23 EST

PIC has become one of the largest fixed income and money market investment managers in Africa, with approximately $100 billion in assets under management.

BGCantor Market Data Partners With Thomas Ho on Real-Time Analytics

Tue, 24 Nov 2009 10:48:59 EST

New analytics products are designed for traders, portfolio managers, risk analysts and market professionals who require fast, flexible analytical tools to gain market insights and support their investment strategies.

ConvergEx Acquires NorthPoint Trading Partners Prime Broker Business

Mon, 23 Nov 2009 14:56:52 EST

Acquisition of NorthPoint adds established boutique prime broker platform to ConvergEx's suite of services.

StreamBase Connects to Chi-X Canada

Mon, 23 Nov 2009 09:50:55 EST

The extended connectivity offers a new venue on which StreamBase users can trade Canadian equities.

Investors Demand Hedge Fund Transparency

Mon, 23 Nov 2009 08:45:03 EST

Institutional investors are already demanding more transparency from hedge funds. Not to be outdone, regulators are readying new rules for hedge fund reporting. By Greg MacSweeney

New Regulatory Requirements Require Data On-Demand

Mon, 23 Nov 2009 08:45:03 EST

With a plethora of proposed regulations in the pipeline, financial services firms are facing more strenuous audits and data reporting requirements that could result in penalties if firms get them wrong. By Ivy Schmerken

Derivatives Clearing Gives Congress Fits

Mon, 23 Nov 2009 08:45:02 EST

Congress is working on legislation for OTC derivatives reform, but there is still no agreement on mandatory clearing of standardized instruments or on how exotic instruments will be handled.

Social Networking Is Here to Stay

Mon, 23 Nov 2009 08:45:02 EST

Social networking is changing the way consumers, investors and traders interact and share information. But all companies are struggling to show how the technology is actually adding to the bottom line. By Greg MacSweeney

No Country for Old Risk Models

Mon, 23 Nov 2009 08:15:04 EST

Congress and taxpayers agree on one thing: Financial firms cannot continue to make large, risky bets and expect a government bailout. Survival in 2010 will hinge on more-effective risk management processes and technology. By Penny Crosman

Data Projects to Pave the Way for Business Intelligence

Mon, 23 Nov 2009 08:00:03 EST

Business intelligence tools can deliver decision-making insight to areas on Wall Street that sorely need it, such as portfolio and risk management. The catch? Data has to be clean, accurate and organized (if not integrated), which means shelved enterprise data management projects may get resurrected.

High-Frequency Trading Controversy Continues to Swirl

Mon, 23 Nov 2009 08:00:02 EST

Regulators are scrutinizing the surge in high-frequency trading strategies, which account for more than 60 percent of equities executions by some estimates. Charges of unfair access likely will continue to drive the HFT controversy in 2010.

Dark Pools Seek Limited Transparency

Mon, 23 Nov 2009 08:00:02 EST

Dark pools provide institutional investors with a valuable venue for trading large blocks of securities. But new regulations may change the way market participants interact with anonymous trading venues in 2010. By Greg MacSweeney

WS&T Presents the Capital Markets Outlook 2010

Mon, 23 Nov 2009 07:55:02 EST

During the first few months of 2009, many financial services executives believed that it would be a lost year -- most expected the markets to continue to tumble, or at best tread water, and anticipated more bank failures, job losses and pain. 2010 couldn't get here fast enough.

Most Financial Advisors Long to Be Independent, Schwab Survey Says

Fri, 20 Nov 2009 09:15:01 EST

Six out of 10 financial advisors at major firms are interested in becoming independent; 80% believe their clients would follow them, the survey found.

Mereor Absolute Return Fund Picks GlobeOp as Fund Administrator

Thu, 19 Nov 2009 09:22:26 EST

Merger and credit arbitrage fund cited GlobeOp's middle- and back-office support, integrated reporting and SAS 70 certification as factors.

OTC Derivatives Market Reform Update (VIDEO)

Thu, 19 Nov 2009 08:44:41 EST

Tabb Group Senior Analyst Kevin McPartland discusses OTC derivatives and broader financial market reform in this video.

IBM WebSphere MQ Low Latency Messaging Completes STAC-M2 Testing

Thu, 19 Nov 2009 08:30:32 EST

IBM sets performance standard in independent low latency benchmark for financial markets.

Citi To Extend Electronic Options Trading to Buy Side Clients

Wed, 18 Nov 2009 11:00:46 EST

Institutional clients can now access Citi's options platform.

Nasdaq to Provide Customers Latency Measurement from Correlix

Wed, 18 Nov 2009 10:46:09 EST

Follows NYSE and Bats exchanges in providing information to members about the latency of its trading and data applications.

OTC Derivatives Reform Doesn't Go Far Enough

Wed, 18 Nov 2009 10:08:53 EST

Independent consultant calls for more competition between securities and futures clearinghouses, allowing ATSs into futures and combining the CFTC and SEC into one agency.

Financial Firm CIOs Strongly Favor IBM, Aite Survey Finds

Wed, 18 Nov 2009 09:59:48 EST

HP, Microsoft and EMC also popular among the 80 CIO respondents.

Northern Trust Building Better Views of Liquidity for Asset Managers

Tue, 17 Nov 2009 16:18:57 EST

How the custodian is renovating IT and operations to support intra-day calculations, dashboards, and a five-petabyte data store intended to help hedge fund and private equity investors know precisely who and what they're dealing with.

Institutions, Financial Advisers High on Hedge Funds, Survey Finds

Tue, 17 Nov 2009 12:17:45 EST

Majority expect alternative investments such as hedge funds to make up more than 10% of their portfolios over the next five years.

Swedbank to Use CEP to Assess Liquidity Risk

Mon, 16 Nov 2009 16:59:22 EST

Swedish financial firm rolling out new liquidity risk management software to perform stress tests and calculate the impact of unusual market events intraday, says Erik Ohman, head of operations.

Gravitas Offers Cloud Computing to Hedge Funds, Private Equity Firms

Mon, 16 Nov 2009 11:18:27 EST

Service allows small- and medium-sized financial alternative asset management firms to rent computing resources.

IPC Upgrades U.S. Network for Voice, Electronic Trading

Mon, 16 Nov 2009 10:25:48 EST

Connects six point-of-presence facilities in New York, Chicago and Houston via an optical network.

Dynamics of Technology Economy Are Key to Mastering Balance of Expense and Value

Mon, 16 Nov 2009 10:15:02 EST

Companies that take charge of their internal technology economy microclimates today by balancing quantitative and qualitative analysis will be in the best position to leverage technology for extreme competitive advantage.

RTS Offers Low Latency Access to LME

Mon, 16 Nov 2009 09:55:44 EST

Traders will now have access to London Metal Exchange via hosted software located in RTS local data centers in London, Frankfurt, New York, Chicago and soon Singapore.

Market Maker CMC to Use Streambase CEP to Build FX Apps

Mon, 16 Nov 2009 09:27:58 EST

Built-in connectors to foreign exchange market data and visual debuggers helped clinch the sale, CMC Markets' CIO says.

Challenges in OTC Equity Swaps Processing

Fri, 13 Nov 2009 10:54:14 EST

With the Fed deadlines coming up for electronic confirmation, sell-side firms are scrambling to streamline the processing of equity swaps.

Bloomberg Enhances CMBS Tools

Fri, 13 Nov 2009 10:43:16 EST

Blooomberg has introduced new capabilities that allow users to view more information around an issue based on detailed economic and interest rate conditions.

Hedge Fund Research Firm Aksia to Use Risk Analytics from JP Morgan/Measurisk

Thu, 12 Nov 2009 10:02:34 EST

Offering clients reports that model the positions of 1,000 hedge funds.

Tullett Prebon Launches tpMatch for FRAs

Thu, 12 Nov 2009 09:50:11 EST

tpMatch is the latest in a series of electronic trading solutions that the global IDB has rolled out across a broad range of products.

OptionsCity Forms Strategic Relationship with ACTIV Financial

Thu, 12 Nov 2009 09:21:52 EST

ACTIV Financial will provide direct and consolidated options data feeds for traders and market makers using OptionCity's electronic trading platform.

Kingland to Use IBM Software in Wall Street Data Projects

Wed, 11 Nov 2009 11:22:00 EST

In one scenario, Kingland and IBM software and unique identifiers could give a firm's risk operation access to a comprehensive view of all enterprise holdings, clients, subsidiaries, and complex business relationships from across multiple lines of business.

Knight Capital Brings Brokerage Service to Europe

Wed, 11 Nov 2009 09:41:46 EST

Knight Link said to provide Mifid-compliant best execution.

Morgan Keegan to Save $400,000 Deploying Exchange Server 2010

Tue, 10 Nov 2009 12:24:29 EST

Users' mailbox storage to grow from 500 megabytes to 2 gigabytes at the same time, CIO John Threadgill says.

New SEC Zeal Helped Dismantle Hedge Fund Insider Trading Scheme

Tue, 10 Nov 2009 12:06:15 EST

The SEC is under tremendous pressure because of its failure with Madoff, says Larry Tabb, founder of Tabb Group. "We'll be seeing more fines and more criminal proceedings as the SEC tries to re-establish its reputation."

Money Manager, Ex-SEC Lawyer Pleads Guilty In Dreier Case

Tue, 10 Nov 2009 09:37:27 EST

A New Jersey money manager, who worked as a lawyer at the SEC in the 1980s, has admitted to helping disgraced lawyer Marc Dreier carry out a scheme to attempt to sell $44.7 million in fake promissory notes by impersonating people at a hedge fund and a pension plan.

Plethora of New Regulations Requires Data-Driven Enterprise

Tue, 10 Nov 2009 09:23:29 EST

Informatica announces version 9 of data integration platform, to address the challenge of finding data that is spread across multiple systems.

Investment Banks Out, Investment Bankers In, Survey Finds

Mon, 9 Nov 2009 11:24:00 EST

Almost a third of CFOs have lost trust in investment banks, according to a Dow Jones/ClientKnowledge survey.

Former Jefferies Money Manager Indicted for Insider Trading

Mon, 9 Nov 2009 10:17:56 EST

Joseph Contorinis, a former money manager for the Jefferies Paragon Fund, has been charged with a $7 million insider trading scheme.

NYSE Technologies Extends SuperFeed Data Coverage to Asian Markets

Mon, 9 Nov 2009 09:51:55 EST

SuperFeed currently provides coverage to Hong Kong Stock Exchange's derivatives and cash feed.

StreamBase Connects to Pure Trading

Mon, 9 Nov 2009 09:24:51 EST

Pure Trading, a facility of CNSX Markets, is a continuous auction market with a high capacity and low-latency trading environment.