Content posted in June 2009
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Wall Street Team Launches Investment Bank Focused on Green Technology
Former UBS Banker Jeffrey McDermott has assembled a team from Goldman Sachs, Citi, Morgan Stanley, and Barclays to form Greentech Capital Advisors.
Citi to Use TradingScreen’s EMS Platform
Integrating TradeSmart EMS with existing Lava order flow technology, migrating buy-side customers over.
Brokers End Talks to Acquire Cogent Consulting's Commission Management Software Firm
The parties were unable to reach an agreement over terms of the transaction, terminating a plan for an industry-wide commission aggregation portal.
Madoff Sentenced to 150 Years in Prison
Bernard Madoff was sentenced to 150 years in prison today by U.S. District Judge Denny Chin for his massive financial fraud.
ADG Deploys ITRS for Real-Time Monitoring of Trading Systems
Traders can view ITRS Geneo dashboard which monitors critical systems in real-time.
London Brokerage Adopts IT Dashboard
To help it keep up with traders' technology requests, ADG Holdings has gone live with a monitoring system from ITRS Geneos.
Madoff Learns His Fate
Prosecutors want convicted fraudster Bernard Madoff to receive the maximum sentence allowed by law which is 150 years in prison.
NYSE Divulges More Details About Its New Data Centers
Latest technology pick: a 10 gigabit Ethernet network from Juniper Networks that's said to provide an internal latency of 50 microseconds roundtrip.
Euro Millennium Increases Average Daily Volume Over 70 Percent in '09
NYFIX's European dark pool connects with Bloomberg buy-and sell-side EMS/OMS platforms.
SIFMA Spending Big to Help Financial Industry Revamp Image
Securities Industry and Financial Markets Association, Dan Simon, SIFMA, Cognito
Obama to Review Every American; 70% of All Praise is Sarcastic
This week, according to the Onion News Network, President Obama began holding job performance reviews with every American in an effort to improve national productivity and a UCLA study found that 70% of all praise is sarcastic. In technology news, Apple announced that the iPhone now makes phone calls.
Obama to Hold Job Performance Review with Every American
According to a report from the Onion, the President's latest financial stimulus efforts include personal ad
A Bridge to Take Wall Street Firms from Grid to Cloud
Grid vendor Platform Computing introduced a private cloud offering this week. What does it take to migrate from a grid to cloud computing?
SIFMA: Cost Cutting, A Double-Edged Sword?
Amidst the buzz at SIFMA about low-latency networks and high-frequency traders, there are firms that really need to restructure their costs.
Aleri and TraderTools Create FX Partnership
TraderTools will embed Aleri╒s Coral* CEP engine in its liquidity management platform.
BondDesk Selects Progress Apama CEP Platform to Deliver Real-Time Analytics & Decision Support
BondDesk will use Progress Apama's CEP platform within the BondDesk ATS.
Hudson Fiber Network Launches Exchange Connect Platform in Switch and Data's North Bergen Site
HFN reports actual performance of 200-to-400 microseconds to four major U.S. equity market centers.
RNA Networks Unveils High-Test Boost to Caching
RNA cache intended to help ease the migration to multicore servers by adding a pool of shared memory.
Solace Rolls Out Unified Messaging Platform
Small appliance delivers market data to various programs and people at high and low speeds.
Market Data Priorities Shifting from Low Latency to Low Cost
Buy- and sell-side firms are intensely interested in lowering their market data costs, but the quest for low latency and high throughput isn't over.
Silver Lake’s Hutchins Touts the Cloud, Social Networking as Mega-Trends
Private equity veteran predicts slow recovery but urges financial industry to invest in technology and innovation at SunGard City Day event.
Market Crises Could Be Avoided Through Simplicity, Better Data
Rick Bookstaber, author of the book A Demon of Our Own Design and a former managing director in charge of firm-wide risk management at Salomon Brothers and a designer of derivatives, proprietary trader and market risk manager at Morgan Stanley, first designing and marketing derivative instruments, then as a proprietary trader, made provocative statements about the state of the markets at the SIFMA show yesterday afternoon.
Direct Edge Adopts 29West's High Speed Messaging Platform
With UME serving as the exchange's messaging backbone, Direct Edge experienced a major reduction in overall system latency and increased throughput.
Wall Street Firms Eye Cloud Computing to Help Counter Budget Challenges
A joint IBM/Securities Industry and Financial Markets Association (SIFMA) survey reveals an increase in the level of interest in new technologies and computing models, in particular cloud computing, as firms seek to overcome budgetary restrictions and skills shortages.
Algo Traders Connect To Twitter
Twitter is catching on as a source of news and information for traders, who can feed tweets into their algorithms in real-time to help them make trading decisions.
Lime Brokerage Connects with Progress Apama
High frequency buy-side and broker dealer customers can now employ Apama strategies that can easily connect to Lime Trading System’s high –speed execution platform, with minimal up-front investment.
Jordan & Jordan Trade Analytics Test Short Sale Proposals
The Jordan & Jordan comment letter extended an open offer to the SEC to request additional analysis of historical data to further support its rulemaking efforts and impact assessment.
NYSE, Voltaire Roll Out 10 Gig E Data Fabric
New data fabric for market data applications said to achieve 25 microsecond average latencies at one million messages per second.
Finnish Bank Selects Orc to Support Launch of DMA Services
Newly established Sofia Bank introduces DMA services for Nordic cash and derivatives markets using the Orc Trading platform and connectivity options.
Quant Trading Firm Implements Xenomorph TimeScape
TimeScape data management and analytics solution enables firm to formulate ideas in minutes.
IBM Demonstrates Cloud Computing and Low Latency Messaging at SIFMA 2009
IBM is demonstrating WebSphere MQ Low Latency Messaging, a messaging transport that is highly optimized for the very high-volume, low-latency requirements of financial firms.
SunGard’s Fame Integrates SIX Telekurs Data
SunGard’s Fame Feed and SIX Telekurs’ MDF provide a single data source of world-wide exchange and pricing data.
CME Group Picks StreamBase’s CEP Platform for Options Pricing
Derivatives exchange initially will tap the complex event processing platform to develop models for settlement pricing of options on futures with plans to expand CEP's use into risk management and compliance.
Hedge Funds Must Be Prepared For Swine Flu Pandemic
The H1N1 virus isn't waning, despite the fact that the media is now largely ignoring the epidemic.
CaseCentral Extends eDiscovery Review Platform with Integrated Early Case Assessment
CaseCentral's new platform enables clients to start with ECA and extend through analysis, review, production and post-production re-use, facilitating collaborative assessments of new case merits and liabilities.
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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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