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News & Commentary
Content tagged with Trading Technology posted in March 2008
What You Don’t Know Will Hurt You
Commentary  |  3/27/2008  | 
Each day investors wake up to more bad news in the financial markets. Worse yet, many thought their assets were safe, only to find out that the financial crisis is hurting even low-risk investments.
Buy-Side Still Values Sell-Side Research, Study Says
News  |  3/26/2008  | 
Asset managers find the most value in corporate access and one-on-one meetings.
Mobile Apps Are Gaining Respect, Flexibility
News  |  3/26/2008  | 
Mobile applications and the people in charge of them are gaining more Street cred, according to Todd Christy, chief technology officer at Pyxis Mobile, a provider of wireless applications for the financial industry that counts Blackstone Group, Deutsche Asset Management and OppenheimerFunds among its customers. "Mobility is becoming a first class citizen in corporate America," he says. "We're seeing more chief wireless officers on Wall Street -- at least a half dozen firms have appointed someone
InterContinental Exchange Acquires Yellow Jacket Software to Expand its Electronic Trading of OTC Derivatives
News  |  3/25/2008  | 
The ICE acquires Yellow Jacket Software's electronic platform to expand deeper into OTC derivatives.
CIOs Feel Their Influence Has Waned
News  |  3/25/2008  | 
Only 68% of CIOs think their role is strategic to the company and 28% actively seek new jobs, while 54% are open to offers
Correspondent Clearing Workstation Market to Reach $262 Million in 2008, But Providers Are Slacking
News  |  3/24/2008  | 
Aite study finds clearing workstation technology needs improvement, except for Bear Stearns' platform -- a rare jewel among the Bear wreckage
Welcome to the New Wall Street & Technology Website
News  |  3/24/2008  | 
For the first time in many years, Wall Street & Technology has completely redesigned its Website. The new site makes searching for content much easier, with customized Google Search and easy to navigate content catagories.
Tullett Prebon Signs On to Derivatives Platform
News  |  3/20/2008  | 
Interdealer broker joins T-Zero.
IB Trading Olympiad Winners Announced
News  |  3/20/2008  | 
Poor CDO Pricing Brought Bear Stearns Down
News  |  3/19/2008  | 
What was the one fatal blow that caused Bear Stearns' suddden demise? Its inability to properly price collateralized debt obligations, according to a report issued by Financial Insights today.
Raymond James Creates Complete View of Customer Data
News  |  3/19/2008  | 
By linking together customer accounts of all kinds, firm gives brokers and customers a full view of customer relationships.
Finding Qualified Tech Professionals Is Difficult
News  |  3/19/2008  | 
New survey finds that in areas like Web development, database management, wireless networking and applications engineering, qualified professionals are in short supply.
Lack of Standardization in Data, Reporting to Hinder Basel II Compliance
News  |  3/18/2008  | 
Nearly half of the more than 100 financial services and compliance professionals who participated in an FRSGlobal survey indicate standardization of their business reporting processes is insufficient.
Identity Fraud on the Decline
News  |  3/18/2008  | 
Despite the hype, identity fraud is on the decline, according to a new survey. But as fraudsters return to traditional channles, such as phone lines, to steal the trusting public's personal information, few financial instituions have implemented multifactor authentication for telephone banking.
Identity and Access Management Market to Reach $12.3 Billion in 2014
News  |  3/18/2008  | 
Forrester predicts that the largest area of growth will be in user account provisioning technologies, which is expected to be a $7.9 billion market in 2014.
Sell Side to Spend $70 Million on Derivatives Processing in ’08, Buy Side Far Less, Says TABB Group
News  |  3/18/2008  | 
The TABB Group forecasts that top-tier broker/dealers will ramp up spending on OTC derivatives processing automation software at a compound annual growth rate of 30% over the next two years.
Could Technology Have Saved Bear Stearns?
News  |  3/18/2008  | 
Although a full autopsy has yet to be performed on Bear Stearns, reason and common sense suggest that state-of-the art technology might have helped the firm circumvent some of its troubles. Here are a few examples.
Deutsche Bank Has Eye on Smart IT Spending
News  |  3/17/2008  | 
Facing a down market, Deutsche Bank is investing in technologies to improve efficiency, such as virtualization and SOA, without losing sight of the customer experience.
The Principal Saves Costs By Printing on Demand
News  |  3/17/2008  | 
The Principal Financial Group, a provider of retirement and investment services, life and health insurance and banking with $311.1 billion in assets under management, has turned to print on demand software to streamline and reduce costs in generating and printing 401(k) statements and marketing collateral.
Nedbank to Implement New FX Platform for Straight-Through Processing
News  |  3/17/2008  | 
Investment bank hopes to quickly get new products to market on foreign exchange platform
Getting That Single Version of the Truth on Wall Street
News  |  3/17/2008  | 
After years of talking about it, Wall Street firms finally are creating unique customer IDs, integrating data sources enterprisewide and building the long-coveted single view of the customer. The result? Better customer and performance reports, streamlined audits, enhanced customer service and improved detection of new business opportunities.
Markit's Moving Fast Into Derivatives Processing
News  |  3/17/2008  | 
London-based data provider Markit has bought Communicator, Swapswire and BOAT. What's next for the fast-moving derivatives player?
NYSE TransactTools May Be NYSE Euronext’s Most Important Asset
Commentary  |  3/14/2008  | 
NYSE TransactTools, a FIX-engine provider, could be the ticket to the NYSE's survival.
Turquoise Hires Former LSE Compliance Manager Werner
News  |  3/14/2008  | 
Werner says Turquoise wants to set standards in terms of quality of technology and client service, as well as setting the bar for best practices in compliance, surveillance and adherence to regulatory guidance.
Rosenblatt Hires Kannan as CTO
News  |  3/14/2008  | 
Kannan says sourcing liquidity as new venues are launched and making them available to clients keeps Rosenblatt motivated.
NYFIX Hires BSE’s Richardson
News  |  3/14/2008  | 
Richardson, who is currently EVP at the BSE, will join NYFIX when Nasdaq's acquisition of the BSE is completed. In his new position, he will oversee management of the company's electronic execution products and services, including the Millennium ATS dark pool, and the soon to be launched Euro Millennium dark pool.
Keeping Tabs
News  |  3/14/2008  | 
SunGard Targets Alternative Investment Firms
News  |  3/14/2008  | 
The new release adds equalization credit/contingent redemption functionality as well as support for unitized funds.
Reuters Delivers New Derivatives Pricing Service
News  |  3/14/2008  | 
The new offering is part of Reuters' overall strategy to speed up the valuation process for complex instruments.
BioPassword Monitors Rhythm of Typing
News  |  3/14/2008  | 
Authentication provider adds improved monitoring and reporting capabilities to its authentication platform, which monitors the typing rhythm of users.
The OMS Dilemma: Speed vs. Intelligence
News  |  3/14/2008  | 
While the drive on Wall Street has been for pure speed, firms are struggling with balancing speed versus intelligence in their OMSs.
Credit Crisis Places IT Budgets in Question (Again)
News  |  3/14/2008  | 
The subprime mortgage mess and credit crunch are impacting financial firms' IT budgets in different ways. But if the multibillion-dollar write-downs continue, one thing is for sure: Technology budgets will be in flux for the remainder of the year.
Exchanges Hardest Hit by Trade Data Avalanche
News  |  3/14/2008  | 
Although the buy side and sell side have to store trade data, too, exchanges such as ISE are hardest hit by Reg NMS/MiFID trade data volumes.
Dark Pools Change Transition Management
News  |  3/14/2008  | 
Transition managers increasingly are tapping dark pools to trade large blocks while avoiding information leakage.
Excel Still Fastest and Most Flexible Trade Capture System
News  |  3/14/2008  | 
Traders are sticking to Excel because it empowers them to create new structure products without relying on the support of the IT organization, says TABB Group.
SIFMA Survey Shows Electronic Trading Extremely Popular in Europe
News  |  3/14/2008  | 
Greater efficiency and reduced costs drive growth of e-trading among European hedge funds and asset managers.
Wealth Management Firms Need Tech Upgrade
News  |  3/14/2008  | 
As 73 million baby boomers begin to hit retirement in 2008, a massive shift is occurring from accumulation of wealth to distribution, according to a report from Celent. But in order to effectively serve retired clients, wealth management firms are going to need to upgrade their technology.
Hedge Fund of Funds Grow in Popularity
News  |  3/14/2008  | 
In 2007, Aite said global assets of HFOFs reached over $1.3 trillion, and are expectd to grow to .2 trillion by 2011.
New Futures Exchange Takes a Name: ELX Electronic Liquidity Exchange
News  |  3/12/2008  | 
The consortium forming a new futures exchange unveiled a brand name and reached out to technology partners to provide market access.
Nearly Half of Retirement-Age Consumers Doubt They Can Afford To Retire
News  |  3/12/2008  | 
Aite Group study finds 45% of Americans close to retirement feel they haven't saved enough.
Column-Based Databases Making A Wall Street Comeback
News  |  3/11/2008  | 
The last time I met with Sybase, it was back when the big three database vendors were Informix, Oracle and Sybase - remember the 90s? This week, Gavin Quinn, FSI business development manager at Sybase, says the company is seeing a resurgence of interest in its high-speed, column-based databases among hedge funds and financial institutions.
MarketAxess Diversifies with Acquisition of Greenline Financial Technology
News  |  3/11/2008  | 
MarketAxess Dives into FIX-Messaging Technology to Grow E-Trading
Gold Book 2007: Evergreen Investments' George Batejan Eyes Artificial Intelligence for Portfolio Managers
News  |  3/10/2008  | 
"We need to provide portfolio managers with the tools to make better investments -- not just market data or research repositories, but actual technology, such as artificial intelligence," says Evergreen Investments CIO George Batejan. To learn more about Evergreen's technology plans, listen to WS&T's exclusive interview with Batejan.