Content posted in September 1999
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FIX Working Group Close to Selecting Certification Agency
The FIX Certification Working Group is close to choosing the third party organization that will act as the single FIX Certification Agency.
Toyo Trust 'SPARs' With NT Version of ABS
Though clearly most financial services firms operating in the Windows environment have already moved up to NT -- or at least Windows 95 -- there are still some stragglers out there yet to migrate from DOS. Toyo Trust Company New York (TTNY) was one such firm hesitant to take the NT plunge. That is, until recently.
Certification Agency for FIX Close at Hand
The FIX Certification Working Group is close to choosing the third party organization that will act as the single FIX Certification Agency.
European Equity Markets Agree to Build a Single API; Interface Part of Larger Pan-European Scheme
On the heels of a memorandum of understanding they signed back in May, eight European stock exchanges have decided to develop a single application programming interface (API) that will interconnect all of their disparate electronic trading platforms.
NYMEX Hires SSB as For-Profit Advisor, Inches Closer to IPE Merger
The New York Mercantile Exchange has retained Salomon Smith Barney (SSB) to spearhead its evaluation of the benefits of demutualization. At the same time, the exchange is drawing closer to finalizing its merger with the International Petroleum Exchange.
Datek Subscribers Can Now Choose Decimals
Clients of Datek Online--a discount brokerage firm--can now view trading information in decimals over Datek's Web site.
SS&C Fills Positions with DSTi Executives
In order to fill several executive positions vacated in the past few months, SS&C Technologies has raided DST International's (DSTi) European sales force.
E-Crossnet Set to Take Flight in Europe
A large group of investment management firms have agreed to participate in a new equity-crossing network that will be exclusively targeted at institutional investors who trade European stocks.
Diversinet and VeriSign to Offer New Security Solution
Diversinet and VeriSign are teaming up to provide security solutions aimed at on-line trading, online banking and wireless trading.
Will Day Trading Face Scrutiny?
The day-trading industry has been thrust into the spotlight in the wake of the Atlanta office shootings by day trader Mark O. Barton and the results of a recent study conducted by the North American Securities Administrators Association.
Throwing a Hat Into the IPO Ring
When the summer IPO calendar was saturated with Internet companies, pundits warned that the dot.com mania was about to hit the wall. And sure enough, by early August, Internet IPOs crashed from the record highs they set in April. By August, deals were being postponed left and right and only the brave, like Red Hat Software, raised capital.
Discover Goes Wireless
Discover Brokerage, Morgan Stanley Dean Witter’s online discount brokerage arm, recently teamed up with Owings Mills, Md.-based Aether Technologies to launch TradeRunner.
Evergreen Funds Looks to Open Source Codes
Like any financial services firm in 1999, the Evergreen Funds is looking to provide its clients and employees with access to comprehensive sets of data through a single browser front-end.
Salomon Smith Barney Considers ReachCast for Online Access to Research
Research distributed by a brokerage’s legion of analysts has usually been a static affair. Produce the research, throw it out to the clients and hope that some tidbit of information entices those clients to invest through one of the firm’s many brokers.
AT&T Takes on the New World Order
AT&T said its proposed British Telecom joint global venture is giving AT&T the chance to reinvent its global strategy based on a robust IP architecture.
Portal Business Helps Guide Reuters' Coverage
Reuters, already the leading global market data and financial news vendor with information from 267 exchanges and reporters in 157 countries around the world, has extended its reach even further with a new global unit, NewMedia International.
Hewlett-Packard Talks Up New E-commerce Solution, E-Speak
Hewlett-Packard has been talking up its new electronic commerce solution, e-speak, since introducing it in May. And financial firms are listening as e-commerce builds momentum across the industry.
London Traders Using New Wireless Option for Liffe Connect
London-based Communicating Limited has developed a wireless trading system to access Liffe Connect, the electronic futures trading platform on the London International Financial Futures and Options Exchange.
Trading Edge Dives into Munis and Real-Time News
Santa Monica, Calif.-based Trading Edge is building a municipal securities version of BondLink–its flagship, Internet-based trade matching system.
A Star is Born: Baby Linux
It may have taken the financial services a bit longer to get up to speed, but make no mistake, Linux, the fast-growing computer operating system, is coming to the Street.
Three Partners Join Hands to Build FX Matching System
NexTrade, GlobalNet Financial.com and Valhalla Forex have teamed up to launch Matchbook FX–an Internet-deliverable, continuous matching system covering spot foreign exchange (FX) products.
Wheat First Union to Upgrade CRM With Janna's Software
Wheat First Union has been using Toronto-based Janna Systems for the past two years and swears that it has helped it retain clients. Now the brokerage firm is putting its money where its mouth is and is upgrading to Janna’s version 6 next year.
Can Steve Levy Restore Merrin to its Original Glory?
The MacGregor’s Group decision to acquire Merrin Financial earlier this year was a tricky one.
Public Demand for New Issues Outstrips Supply
Touting that their mission is to democratize the process, online investment banks have been popping up on the Internet to distribute shares of initial public offerings to retail investors.
w-Trade Woos Dreyfus to its Wireless Services
Beverly Hills, Calif.-based Dreyfus Brokerage Services has chosen w-Trade to provide wireless handheld trading capabilities at no additional service charge to its clients.
Cover Story: Eyeing the For-Profit Plunge
Driven by a desire react more swiftly to the growing threat of electronic competitors, many of the world’s largest exchanges are considering transitioning to for-profit ownership models. And, as the world’s leading stock exchanges pontificate on transitioning to for-profit business models, one significant issue they will have to wrestle with is regulation.
Liffe Joins Forces with CME
The London International Financial Futures and Options Exchange has finally joined the community of futures markets that have formed technology alliances.
Coping With the Electronic Market Revolution: Susquehanna Partners Reinvents I.T.self
Susquehanna Partners (SP) has built up a successful proprietary global securities trading business. SP officials have come to realize how important it is to stay ahead of the IT curve.
ILX Attracts 17k More Users This Year With Latest Flavor
A number of high profile securities firms tapped ILX this year for the latest version of the market data vendor’s flagship ILX Workstation. Among those firms that gave the nod to ILX this year, representing both new and existing business, were the likes of Merrill Lynch, Scudder Kemper Investments, Fleet Securities, Ragen Mackenzie and Swiss American Securities–to name a few.
Execs Flee SS&C Looking for Greener Pastures and Products They Can Sell
Discontented with upper management and the products they sell, many executives at SS&C Technologies have resigned or are leaving within the next month.
Thomson Still Hopes For GSTPA Participation
Thomson Financial ESG still has hope that it will be able to partake in the
GSTPA's Transaction Flow Manager (TFM) project.
ISE Hires Davidge to Build Connectivity Tool
The International Securities Exchange (ISE)--the all-electronic options marketthat is now scheduled to launch on March 24, 2000--has hired Davidge Data Systems to develop order routing connectivity software for its OM Technology-suppliedtrading engine.
TT International Selects LandMark Front End
London-based investment management firm TT International has chosen LongView
Group's LandMark trade order management system.
Interactive Brokers Builds Links to SWX, ECNs
Interactive Brokers (IB) LLC has built an interface between its order execution
network and the Swiss Stock Exchange's (SWX) electronic trading platform.
Philadelphia Stock Exchange Chooses Cognizant for Decimalization
The Philadelphia Stock Exchange (Phlx) has selected Teaneck, New Jersey-based
Cognizant Technology Solutions to implement its decimalization conversion project.
Risk IT Spending on the Rise Across the Board
Spending on risk management-related IT, steadily increasing over the past few years, continues its upward swing, according to a study recently published by Newton, Mass. consultancy Meridien Research.
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