Content posted in July 2013
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Nasdaq FinQloud Inks 19th Financial Services Client
Since its launch, Nasdaq OMX's FinQloud offering has secured 19 clients and expects to have 21 by the end of the week.
Outsourcing Trends on Wall Street: Changing Attitudes
When considering outsourcing vendors, it is important to analyze the intangibles — to look beyond cost, schedule and compliance. The right partner should be of comparable size; for mid-size buyers, global brands most often do not translate to quality.
122% Increase In Financial Services Cyberattacks During Q2
Up to 95% of data breaches start with a phishing email, according to the Agari Email TrustIndex Second Quarter 2013.
Transaction Taxes: Finding an Operational Solution To A Global Problem
If financial firms are required to calculate taxes in more than one jurisdiction, operations teams will be tested to keep up without the proper automation.
Auditors Not Okay With Rampant Secure Shell Key Mismanagement
Software that provides a risk and compliance report for Secure Shell environments continues to show large-scale security violations across the industry. Auditors, who are also armed with the software, are not taking kindly to the old habit of leaving forgotten access codes lying around.
Scivantage Maxit Reconciles Data Using Broadridge
Scivantage extends partnership, with Maxit adding data reconciliation through Broadridge.
The Big Joke About Big Data
If you want your big data strategy to succeed, you must realize that it involves much more than just weblog data.
DTCC Buys Omgeo From Thomson Reuters
Omgeo will continue to focus on improving the post-trade process for clients.
Top 7 Financial Services Hacks By The Numbers
Are you up to date on the latest string of hacks and thefts that have cost financial institutions multimillions of dollars? From Anonymous's hactivism to the most recent credit card scandal, here are the most interesting 2013 data breaches to hit the headlines.
Are Banks Pushing to Weaken Dodd-Frank?
Goldman Sachs, JPMorgan and other top investment firms have had more meetings with regulators than with reform groups. Wanna bet what they were talking about?
Lightyear Hires Former Lava Trading CEO
Private equity firm appoints Richard Korhammer as senior adviser to make investments in fintech and capital markets sectors.
Decision-Making Automation: The Next Financial Services Innovation
As algorithms and the markets continue to evolve, the way traders apply data and analytics to algo creation will lead to the next wave of innovation.
Building A Big Diverse Data Platform For Wall Street
Although there is no one panacea for increasing the analytical quotient in capital markets and there is no big data analytics in a box, there are, however, components or architectural ingredients that are essential in getting value throughout the information supply chain.
Will the REAL OEMS Please Stand Up?
Many firms claim to offer an OEMS, yet there is no precise definition. Here are the top 10 features that an OEMS must have to qualify for the coveted moniker.
Direct Edge Highlights Retail Flow in Market Data Deal
The third-largest stock exchange operator will distribute its EdgeBook Depth product through Interactive Data's consolidated feed.
For Banks, FATCA is a Technological Challenge
The FATCA deadline may have been pushed back, but is there still enough time to react? How has the roll-out of compliance solutions progressed from a technology standpoint?
Thomson Reuters Adds 65 Global Futures Connections
In partnership with CQG, Thomson Reuters expands access to futures markets liquidity.
Yodlee Is Powering Your Financial Apps, and Banks Love It
Wealth management tools for the masses is old news, but the way banks are using the data internally is eye-opening. For them, uncovered assets mean big business opportunity.
Banks Fight Back Against Cybercrime
As cybercrime evolves, financial institutions are sharing threat information and collaborating to improve defenses.
Will Thomson Reuters' Eikon App Woo Wall Streeters Back to BlackBerry?
Thomson Reuters released Eikon as the first native market data app for BlackBerry 10, in response to client demand as the once ubiquitous smartphone giant aims to make a comeback in financial services.
Accenture and Broadridge Simplify Post-Trade Processing
SocGen is the first bank to expect big savings in post-processing costs after adopting Accenture and Broadridge’s standardized platform.
CFTC First To Use Dodd-Frank To Charge HFT Firm
The CFTC has shown it's ready to use new regulatory powers to combat corruption in the marketplace. What took so long?
Trusted Analytics Biggest Obstacle in Social Media Adoption
Understanding the influences of social media on the marketplace and the barriers to adopting this alpha-generating strategy can guide the next wave of financial tech innovation.
Quantum Dawn 2: The Aftermath
With cyber attacks being one of the biggest threats to financial institutions, cyber exercises like Quantum Dawn 2 and other security measures become imperative.
ACTIV Financial Expands In Asia
ACTIV’s coverage expands to 10 markets across Asia.
trueEX Strikes Agreement with CME Clearing for Credit Spread Futures
The new trueEX credit spread futures contract will be traded over CME's Globex platform, giving it global distribution.
Social Media Hacks, Will We Fall For the Same Tricks Again?
A recent breach of the Nasdaq bulletin boards reminds us that hackers are applying an endless stream of attacks. It begs the question, have any steps been made to protect algo traders from foul play in social media, including another AP twitter hack?
Global CFOs Uncertain But Optimistic, Says Survey
Accenture surveyed 1,250 senior finance executives across 9 major economies and found the future of finance is a little brighter than it was before.
Goldman's REDI Spin-Off Signals EMS Market Shift
The spin off of Goldman's trading platform follows similar moves from other brokers and has attracted a consortium of investors to grow the business as a broker-neutral platform.
The Value of Trust: Q2 Financial Services TRust Index
Can financial services use measured trust in the global financial marketplace to improve insight and progress? Thomson Reuters thinks so.
Trader, Should You Fire Yourself as Your Own Wealth Advisor?
Many financial professionals choose to manage their own personal wealth. But you may want to ask yourself: Have I done the right thing so far with my family wealth? If not, should I fire myself?
Market Microstructure and High-Frequency Market Manipulation
Normal exchanges tend to be more volatile and prone to market crashes than their inverted and pro-rata counterparts, contends algorithmic trading consultant Irene Aldridge.
Cybercrime A Systemic Risk, Say IOSCO & Exchanges
IOSCO is working to quantify cyber attacks on securities markets. The data is helping to measure systemic risk and threats to the global market.
Document Risk: Taming the Paper Tiger
Thanks to new regulations - written more often in gray than black white - investment firms are suffering from document risk, or poorly archived documents and information. While it may not have the white-hot urgency of liquidity or credit risk, document risk is still a source of confusion for today’s firms. WST spoke with Mahesh Muthu, associate principal at eClerx, about the ways firms can stay ahead of their documentation dilemmas.
Is HFT Leveling the Playing Field?
As lawmakers look at high-frequency trading, firms continue to shave the time off of their trades. WST spoke with Azul Systems CEO Scott Sellers for his take on high frequency trading going forward. Is it still full steam ahead or are firms looking to back off?
Cybercrime On Wall Street
As the volume of cybersecurity incidents increases, financial services firms are developing their own intelligence-gathering units and cooperating with the federal government to defend against hacktivists, cybercriminals and other state-sponsored groups.
Super Nodes Allow CFN Services’ TradingHUB To Offer Faster Connections, Lower Rates
CFN Services is using super nodes for TradingHUB to provides more secure and faster connection with a cheaper rate.
MarketAxess Files SEF Application with Regulator
With the CFTC finalizing the rules for swap execution facilities or SEFs, MarketAxess is moving ahead with plans to trade credit default swaps under the Dodd-Frank Act.
Woodfield Uses Smonik’s RECON For Faster Reconciliation
Woodfield Fund Administration selects Smonik RECON for automatic reconciliation.
6 FinTech Winners Revealed
Large banks threw their support behind six budding financial technology companies, helping them integrate their tools and maximize value.
Change Doesn't Always Have To Be Hard
"Change Sourcing" helps banks transform their cost base by reducing overall project costs, leveraging offshore resources, providing cost predictability and improving cost efficiency and execution.
6 Entrepreneurs Present Latest FinTech Innovations
Large banks support and mentor financial tech entrepreneurs, matching innovation with the needs of big financial institutions.
Sterling Trader Offers Nasdaq OMX Surveillance Solution to Buy-Side Customers
A service bureau offering its infrastructure and DMA platforms to broker-dealers offers surveillance technology to monitor order traffic.
CFTC Hammers Out Cross-Border Derivatives Trading Regs, Irritating Banks
Wall Street may be holding its breath, but CFTC Commissioner Gary Gensler is close to finalizing overseas trading rules to meet tomorrow's July 12th deadline.
3 Ways IBOR Can Improve Alpha
Buy side firms rely on real-time data to help traders increase alpha and better interact with regulators. If an investment book of record is the best solution to date, its greatest triumph may lie in the discussion it's sparked.
Cyber Threats: Multiplying Like Tribbles
As cyber threats grow at a rapid pace, financial firms need to enhance and adapt a multilayered defensive strategy.
Hacktivism: Defending Against The Unknown
In addition to protecting themselves against hacktivists, banks need to be wary of state-sponsored cybercrime as well as espionage.
Investment Executives Optimistic On Hiring, IT Spending
KMPG's 2013 Investment Management Business Outlook Survey shows executive are more optimistic this year about revenues and hiring.
Trading Technologies Launches Multi-Broker Derivatives Trading Platform
Citing buy -side demand for broker diversification, Trading Technologies is launching the MultiBroker ASP solution on the heels of running a six month beta program with 11 major brokers and 12 CTAS and global macro funds.
The #1 Myth about Security Information and Event Management (SIEM)
Probably the most popular myth deceiving IT security professionals today is that Security Information and Event Management (SIEM) software is a sufficiently-robust solution for keeping a close eye on sensitive data and – and to send alerts when anything suspicious happens to it. However, SIEMs can only report on logs they can see - therefore another type of user activity monitoring software is needed to ensure data remains secure.
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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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