Content posted in June 2006
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Instinet Releases Nighthawk to Hunt for Dark Liquidity, and more
Instinet Releases Nighthawk to Hunt for Dark Liquidity, PHLX Taps OES to Provide Outbound Routing for Electronic Equities Exchange, Electronic Trading Pressures U.S. Commission Rates to New Lows, Miletus Trading Develops Algorithm for Index Fund Managers
Investment Management Newsflashes: BlueBay Asset Management Live on SunGard, and more
BlueBay Asset Management Live on SunGard, American Independence Gains Upstream Efficiencies, Growth Continues at Integrated Business Systems, Finaplex Offers OnDemand for Wealth Relationship Management
Operations Newsflashes: Bank of America Signs $700 Million EDS Contract, and more
Bank of America Signs $700 Million EDS Contract, Barclays Banks on Borland Software, New York Board of Trade and SDS Extend Partnership, Mobius Upgrades Total Content Manager
Compliance Newsflashes: Morgan Stanley Ponies Up Another $10 Million, and more
Morgan Stanley Settles With the SEC for Failing to Monitor Employee Accounts, Actimize and Albridge Develop Broker Compliance Solution, Tilney Investment Management Gets Compliance Help From Network Defence
SIA and TBMA Boards Vote Yay on Merger and Sexy New Acronym
By Cory Levine, Wall Street & Technology
Leaders of the Securities Industry Association (SIA) and The Bond Market Association (TBMA) announced today that the boards of both groups voted in favor of a merger proposed in April. The decision now rests in the hands of the member firms of both asso
AIG’s Lag Shows Wiggle Room In Breach Disclosure Laws
State-by-state variations in data breach disclosure legislation has allowed hacked firms to keep information quiet for extended periods of time.
IT Plays Critical Role In NYSE’s Global Market Gambit
If the plan works, NYSE could become a global, round-the-clock marketplace for stocks, bonds, options, and derivatives. If not, the nation's pre-eminent stock exchange could surrender market share to domestic and global competitors.
Sun Targets Reg NMS at SIA Show
Sun Microsystems is preparing to make a big splash at the SIA Technology Management show with its multiple messages around Reg NMS, bird flu, market data and best execution.
As IM Grows, so Do the Number of Vendor Message-Logging Products
Global Relay Communications (booth 2505), a provider of outsourced enterprise-class message archiving, compliance and management services, is launching its Enterprise IM solution, based on the vendor's Jabber product, which can be fully integrated with the vendor's message archive solution, its flagship product.
CTI Finds an Interactive Voice
With a heritage that spans over 20 years, New York-based Consolidated Technologies Inc. (CTI) was founded by a group of industry veterans with the foresight and knowledge to provide superior communication networks.
Virtual Wall Street
As technology gets more advanced, the world gets smaller. People can shop from the treadmill and earn degrees from their living rooms. So why not let traders trade from anywhere?
Eze Castle Integration Expands Business Continuity Portfolio
Boston-based Eze Castle Integration (Booth 3612), which has more than 400 clients and over 50 firms with assets under management in excess of $1 billion, has announced the expansion of its vSite Disaster Recovery facilities.
Not Your Grandfather’s Knowledge Management
Knowledge may be power, but as industry leaders know, knowledge also is money. With that in mind, New Brunswick, N.J.-based Connotate Technologies is introducing Information Agent Suite (IAS) 6 at this year's SIA Technology Management Conference.
Credit Derivatives Trading and Processing Tech In Demand, but Buyers Still Hesitate
With the average daily trade volume of credit derivatives doubling since 2004, according to a new report from Celent, Wall Street firms still are shopping for trading technology, particularly back-office processing automation to handle the huge increase in their credit derivatives business, just as many firms were shopping for similar products at last year's SIA show.
The Sell Side Searches for Reg NMS Solutions at SIA
Looking to move from concept to execution, sell-side institutions are searching the SIA show floor for technology and strategies to support compliance with the SEC's Regulation National Market Structure (Reg NMS).
Demand for International Trading Booms
The demand for trading solutions that specifically facilitate international trading will continue to grow, according to Peter Delano, a senior analyst with TowerGroup. Delano points to a recent TowerGroup study that reports that global spending on order management systems (OMS) by buy-side firms will increase from $450 million in 2006 to $750 million by 2010 - a 66 percent increase.
SOA: At Your Service
As a business-driven approach to technology, service-oriented architecture (SOA) allows companies to innovate by ensuring that their IT systems can adapt quickly, easily and economically to support rapidly changing business needs.
CTO Tackles Arca-NYSE Integration
With the proposed NYSE-Euronext merger on the horizon, Steve Rubinow, the newly named chief technology officer (CTO) of NYSE Group, is embarking on a huge project to integrate all the technology from the merger of Archipelago and the New York Stock Exchange.
INDATA Unveils Disaster Recovery Service for Buy-Side Clients
With buy-side firms' business continuity plans facing increasing scrutiny from regulators, INDATA has introduced a turnkey disaster recovery (DR) service.
New Technology Helps Firms Stay One Step Ahead of Regulators
On the heels of an SIA estimate citing the financial industry's compliance spending at more than $25 billion, it's no surprise that SunGard is looking to get a piece of that pie.
SWIFT Sweet on Securities
Born in the banking and payments world, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) has become a major player in the securities sector, with Wall Street-related messages now comprising almost half the traffic on its network.
Xeye Focuses on Integration
Responding to a growing demand for integrated solutions, Xeye, a provider of wealth management technologies, has made its way down the Web services road.
DSTi and FlexTrade Partner on Trade Execution Management
DST International (DSTi), a Boston-based provider of investment management and business process management solutions, has signed a joint development and distribution agreement with FlexTrade Systems.
Nexa’s Next Step Caters to Smaller Buy-Side Firms
As automated trading strategies continue to sweep through Wall Street firms, everyone wants to get in on the action. The buy side is almost entirely on board, with larger firms making immense technology investments to be able to participate in computerized trading strategies.
LatentZero Pours on the Speed With New Pre-Trade Compliance Offering
Boston-based buy-side front-office solution provider LatentZero (booth 3603) is gearing up for a new era of pre-trade compliance, announcing the release of Capstone Sentinel 5.0 at this year's SIA Technology Management Conference. Already purporting to have the fastest pre-trade compliance engine with its Sentinel product, LatentZero claims that version 5.0 runs twice as fast as its predecessor.
Aegis Software Launches Automated Trading Into FX ECNs
Aegis Software (booth 1522) has enhanced AthenaTrader, its multi-asset order execution system, to support automated trading on several leading foreign exchange ECNs, including Hotspot FXi and Currenex ESP.
NYFIX’s New IOI Product Will Lower Costs for Users
There's a new player in the indications of interest (IOI) messaging space. In an effort to lower the cost structure of IOI messaging, Stamford, Conn.-based NYFIX (booth 1856) has begun connecting the buy and sell sides to its service.
NYFIX began passing IOI messages along its network in November 2005 by leveraging its existing infrastructure between the buy side and sell side.
PAM Gets a Facelift
Princeton N.J.-based Princeton Financial Systems (booth 1840), a provider of portfolio management and accounting software to financial institutions, has been working to put a new face on PAM.
SIA’s Past: What Will You Do for Me Tomorrow?
For most of my life, the signs of June have been the aroma of burgers on the grill, miles of slow-moving red tail lights heading to the New Jersey shore and the Red Sox poised for their annual collapse. But things have changed (as my Boston-based colleagues constantly remind me).
Thomson Financial’s Book Smarts
In the ever-competitive landscape of financial advisory, even the smallest advantage can mean the difference between success and failure.
A Letter From the SIA
Welcome to SIA's annual Technology Management Conference and Exhibit - the securities industry's premier educational event for technology management professionals. This year's theme, "Cool & Competitive Technologies," focuses on exciting, innovative technologies that will help firms compete more effectively; meet investors' demands for clear, understandable information; and comply with the vast array of new and existing regulations.
Charles River Continues Four-Step Program
Burlington, Mass.-based Charles River Development (CRD), a provider of investment management software and services to the buy side, has begun its very own four-step program.
https://www.informationweek.com/
The past year has been dominated by algorithms. Algorithmic trading has been the topic of conferences, magazines and boardroom discussions, and it certainly has brought back the thought that technology is important. But will the trend continue?
SEC Gets Aggressive; E-Mail Management Becomes Focus
The ghost of Morgan Stanley's e-mail debacles is haunting the floor of this year's SIA Technology Management Conference. The firm closed one chapter of its e-mail horror story in May with a $15 million settlement with the SEC for violating e-mail retention rules, but it isn't out of the spotlight yet.
Now Private, SunGard Spends More Time on Product, Less on Financial Reporting
Last year, SunGard (booth 2411), one of the world's largest providers of software and processing solutions, went private. The deal, the second-largest leveraged buyout in history, left CEO Cristobal Conde free to make moves without the Street driving the firm's stock up and down with every quarterly report.
Eze Remodels the Castle
Eze Castle Software (booth 1815), a Boston-based provider of buy-side order management systems, has been doing some remodeling of its core Traders Console OMS over the past year.
EDM Council Grows to 45 Members
New York-based GoldenSource (booth 3206), a provider of enterprise data management (EDM) software to the financial services industry, is feeling quite the proud parent of the growing not-for-profit EDM Council, which now boasts 45 member firms.
Advent Skipper Focused on Customers
Well into her second tour of duty as CEO of the company she founded in 1983, Advent's (booth 2019) Stephanie DiMarco has the firm refocused on the needs of its diverse customer base.
Pyxis Provides Easy Mobile Access for Ixis
Boston-based IXIS Asset Management Advisors has deployed Waltham, Mass.-based Pyxis Mobile's - co-exhibiting at both the Oracle (3007) and RIM (1604) booths - mWholesaler, which leverages the BlackBerry Enterprise Solution from Research In Motion (RIM), to connect IXIS' retail sales team to real-time enterprise data.
Relegence Tailors Mail Monitoring for Financial Services
Most of us spend the day in front of a computer trying to get our work done as our e-mail indicator pings and messages flood our inbox.
Royalblue Breaks Into Algorithmic Trading With BlueBox
Royalblue/Fidessa (booth 4106) is launching Fidessa BlueBox, an algorithmic trading system for sell-side firms seeking to offer their own automated trading strategies.
ITG’s Solutions Gradually Coming Together
The action really started Jan. 3," says Ian Domowitz, CEO, ITG Solutions Group (booth 2609), referring to the date on which his business division was founded with the closing of two acquisitions.
ProfitStars Manages Risk by Managing the Exceptions
In financial services, complexity is the rule. As a result, risk comes in all shapes and sizes.
What Does NYSE-Euronext Mean for the U.S. Trader?
Much has been written about the NYSE Group's proposal to merge with Euronext and create a truly global marketplace that spans U.S. and European stocks as well as futures and options.
Global Market Consolidation: Read the Rules Carefully
With all of the talk and maneuvering around global exchange consolidation, it may be interesting to take a step back and ask, "Why, what for and is the world better with a single global exchange, or are we OK with the fragmented jurisdictional entities that typify today's environment?"
The Inevitable Exchange Consolidation
As the last month or so has unfolded, it may seem to casual observers of the financial markets that the global stock market consolidation frenzy has appeared overnight.
A Conversation With Auerbach Grayson’s David Grayson
Many broker-dealers and agency brokers do business abroad, but not every broker can execute trades in the most-obscure markets, such as Oman, Benin and Burkina Faso.
Asia Aware: What You Need to Know to Trade in These Markets
The Asian markets are scorching hot - in 2005 alone the Tokyo Stock Exchange was up 43 percent over 2004 in terms of value of shares traded, a common growth benchmark used abroad.
Gearing Up for the Buy Side’s Global Trading Needs
Providers are beefing up their offerings to attract U.S.-based buy-side traders with a global appetite.
Reg NMS vs. MiFID
Regulation National Market System (Reg NMS) and the Markets in Financial Instruments Directive (MiFID) represent major changes in the structure of the markets for equities trading in the U.S. and European Union (EU) respectively.
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Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.
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