Content posted in July 2000
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MutualFunds.com Preparing To Go Live with Fund Investing Portal
This fall, the firm will launch a one-stop shop for mutual funds education, planning and investing, with one front end linking to multiple mutual-fund companies.
WOFEX Enters ECN Arena
New player in a crowded field is set to debut in the fourth quarter, with eyes on becoming a one-stop shop for broker-dealers and institutional investors.
NeoNet Forges Down Portal Path with Addition of LSE and EuroNext
By the end of the year, the brokerage will be able to afford its institutional clients access to nearly 80% of all European equities, up from its current 25%.
Financeware.com Adds Monte Carlo Simulation
Users can gauge the odds of meeting their financial goals, in addition to using the site's other probability tool, Financial Plan Auditors.
IN BRIEF
Financial Models Company, Inc., expands internationally; Charles River Development ships version 3.10 of the Charles River Trading System; AXA Advisors unveils e-business initiatives.
Optionable Provides Electronic Option to Options Trading
New electronic derivatives trading system will initially focus on gaining liquidity in the OTC natural gas and oil markets. Optionable later plans to license its technology out to any B2B markets and exchanges that wish to trade options electronically.
New Energy Trading System To Launch Next Week
BrentBroker.com is set to launch next week. Earlier rumblings of a possible partnership with the NYMEX still persist.
IN BRIEF
U.S. Bancorp Piper Jaffray licenses Syntegra's advanced trading platform; eSpeed shows Q2 revenue growth; PSDI strengthens its relationship with Ariba.
Matchbook Seeks Patent, Looks To Strike Deals with Small Banks
Patent on foreign exchange currency trading system is designed to protect a "new approach" to FX trading, as well as the technologies involved.
IVolatility Launch Seeks To Eradicate the Volatility Guessing Game
The site offers options traders and individual investors the ability to view such figures as an individual stock's current volatility, implied volatility (IV), historical volatility (HV), IV for calls and puts, as well as its volatility in correlation to the S&P 500.
Andersen Consulting Shakes Up Buy-Side Vendors with Proposed Web eSTP Project
Partnering with a select group of vendors, solution will integrate customer relationship management, trading and order management, and portfolio management and accounting. Initial rollout will be for asset managers.
The Swiss Exchange Hops on the Electronic Exchange Bandwagon
Alliance with Tradepoint Financial Networks join forces in a move that will migrate all trading of Swiss blue-chip stocks from the SWX to Tradepoint.
VIFI To Offer Online Trading Option to Small Brokerages
New product would give smaller financial institutions the ability to provide their customers with a fully branded online and onsite brokerage function.
IN BRIEF
Alphatrade.com product allows any Web site to instantly become a free provider of streaming quotes; Merrill Lynch maintains its position as the world's most-read brokerage firm; IXnet to provide and fully manage an end-to-end data and voice communications network for Natsource.
Andersen Consulting Shakes Up Buy-Side Vendors with Proposed Web eSTP Project
Partnering with a select group of vendors, solution will integrate customer relationship management, trading and order management, and portfolio management and accounting. Initial rollout will be for asset managers.
Thomson and PeopleSoft To Integrate Back-End Systems, Build Front-Office Portal
Integration of Portia with PeopleSoft's general ledger and fee billing systems is expected by November. Talks continue on building out a portfolio manager front end that uses PeopleSoft's CRM solution as a framework, with Thomson's Open Trader and other products included.
ADIG Selects BARRA's TotalRisk
The German mutual fund company rolls out 47 installations across the firm to process positions in its Frankfurt, Munich and Luxembourg offices.
CheckFree Releases New Gain/Loss Trade Modeling Tool
The new tool, MASS (multiple accounts/single security), plugs into APL WRAP, CheckFree's portfolio accounting system, and allows managers to trade securities across many portfolios.
IN BRIEF
First Call launches a redesigned information portal for the institutional marketplace; Stockgroup.com Holdings introduces its new and improved smallcapcenter.com site; Advent software reports a 35% increase in revenue for the second quarter.
IN BRIEF
SS&C TECHNOLOGIES, INC., releases SS&C Debt & Derivatives 2000, version 7.2; TRADEWORX'S LO-Price technology gets implemented on several financial Web sites; DATALINK.NET and THE GLOBAL MARKETS DIVISION OF THE CHASE MANHATTAN BANK announce partnership to facilitate wireless market-data distribution.
Byallaccounts.com Launches Account Aggregation and Analysis Service
The new tool, called WebPortfolio, gathers account information from multiple financial services firms and aggregates the information on one Web site.
Autex Going Great Guns Globally
Autex Connect, which combines IOIs and order-routing capabilities of the vendor's domestic Autex and Trade Route products, has already been added by 40 European clients and a dozen Asian institutions.
FTI Unveils T+1 Performance Group
Financial Technologies International's new group will test a firm's data-processing capabilities and what it might need to do to improve processing speed relative to trading and settlement.
IN BRIEF
AdvisorTech Corp. unveils Korea's first-ever global wrap account program; Ibbotson Associates partners with PSB Training; TenFold Corp. shares lose close to 50% of their value in one day after announcing an expected a second quarter loss.
TradingLinx.com Announces New Online Confirmation System
In what seems like shots across the bows of Thomson ESG, and, to a lesser extent, the GSTPA, TradingLinx is vying to become a major provider of post-trade/pre-settlement messaging and workflow processes for the buy- and sell-side communities.
Family Influence
Who would have known there were so many families involved in financial services technology? For our August issue, the staff of Wall Street & Technology thought it would bring you something a little on the lighter side, a more personal look at financial technology. As a result, the following feature examines families in financial technology; how they got to where they are, how they work together and, most importantly, their impact on the industry.
Weiss, Peck and Greer Selects Belzberg for Trade Order Routing, Back-Office Connectivity
Weiss Peck plans to offer the Belzberg system to its client roster of more than 100 clearing correspondents.
OneBond.com To Consolidate Access to Multiple InterDealer Broker Screens
New Web site aims to consolidate the bid and offer prices across multiple fixed-income brokers and make it easier for brokers to trade with multiple IDBs.
IN BRIEF
THE INTERNATIONAL SECURITIES EXCHANGE grows to 19 equity issues after one full month of operation; FIRST CALL CORP. ranks fixed-income trading activity among U.S. brokerage firms in the first quarter of 2000; STOCKGROUP.COM HOLDINGS INC. and ASIA EXCHANGE INFORMATION SERVICES PTE LTD launch a financial information Web site.
Through Integration, a Virtual Exchange for Intellectual Property is Born
Can a patent be bought like a stock? Can a license be sold as if it were a standardized financial asset? Can intellectual property be valued alongside other financial assets? Pl-x.com is betting on it.
UAM Offers Vestek Performance Measurement to 40+ Affiliates
UAM says it chose Vestek's Performance Analyzer over industry competitors Barra, FactSet and Russel, because the system resides at one data center that all the affiliates connect to via a T1 line.
FIX Protocol Ltd. Close to Announcing FIX Certification
Industry insiders confirm that the certification agency will be a stand-alone entity comprised of Hewlett-Packard and the Open Group, as well as up to four to six other members.
BONY and AVT Create New Company to Manage iFX Manager
In an effort to make the new company, Market Marque, a true independent entity, banks that sign on will take an equity stake in the company.
Buyer Beware: Cutter Points Out Potential Pratfalls to Buying a New Trade Order Management System
The report finds that vendors are having trouble maintaining further enhancements to their products, as well as supporting their current clients.
IN BRIEF
Lend Lease Houlihan Rovers SA licenses Princeton Financial's ePAM; Banco Bilbao Vizcaya signs with Global Investment Systems for MSHARE 2.0; SS&C Technologies releases LMS 2000 Version 3.0.
Open Source Investing: Is Wall Street's Research Game Over?
There's a new disintermediator in town! Just as Electronic Communications Networks (ECNs) have taken the sting out of market making, Tobin Smith, author of a new book called Change Wave Investing and founder of ChangeWave.com, is out to cut the middleman out of Wall Street research departments.
Data Storage Bulks Up with Fiber
As little as eighteen months ago, storage area networks, better known as SANs, were regarded by many finance industry CIOs as technological exotica. Consolidating storage had obvious benefits, such as easing data management, but the high cost of the technology ruled it out of consideration in many cases.
Chase Signs Multimillion-Dollar Fiber-Optic Deal with Metromedia
Seeking to beef up its regional network backbone, Chase Manhattan Corp.
signed an agreement in May to lease fiber from Metromedia Fiber Network, Inc. (MFN) to support bandwidth
intensive applications and an
e-commerce infrastructure. MFN's fiber-optic circuits will connect Chase offices in New York, New Jersey, Delaware and Texas, increasing capacity in those markets more than a hundredfold.
SunGard Taps into MoneyLine's Persistent Sockets
Delivering market data over the Internet has been technically unreliable, but that could be changing. SunGard Energy Systems' worked with MoneyLine, an Internet-based data aggregator, to develop its new Market Monitor product for energy market clients.
A Conversation with J.P. Morgan's Veronique Weill
J.P. Morgan Investment Management has just promoted Veronique Weill to the premier position of head of global technology and operations. Weill brings a uniquely global view to the position, having served previously as head of technology and operations for Asset Management Services in Europe.
CheckFree Partners with Northfield to
A recent partnership between CheckFree Investment Services and Northfield Information Services, Inc. will enable wrap account managers, who manage their portfolios with CheckFree's APL WRAP, to "become more tax efficient from a trading perspective," James Waller, investment services senior vice president at CheckFree, says.
Strong Investments Launches 401k Tools
In an effort to reach more of its plan participants, Milwaukee's Strong Investments has initiated a project that will make 401k education even easier by using the Internet.
Investorforce Offers Institutional Communications Facility on the Web
Pennsylvania-based Inves-torForce.com, has un-
leashed a new Communication Center on its Web site www.investorforce.com. This free service will help institutional investors and consultants organize and archive the multitude of electronic communications they receive daily.
CTI Releases First Stand Alone Compliance System
Compliance Tools Incorporated (CTI) may raise the bar on
company-wide compliance checking with its new Portfolio BlackBox (PBB) stand alone compliance software. The new software will not only allow a company's compliance system to be more flexible in accommodating SEC and securities firm guidelines but will also run at real-time speeds, according to Mitchell Kraskin, president of Compliance Tools, Inc.
WebFN Debuts Streaming Financial Video News
CNBC and CNN move over! WebFN.com, LLC-a recent joint venture between Bridge Infor-mation Systems and Weigel Broadcast-ing of Chicago-unveiled a Web site delivering global financial video news over the Internet at the SIA Show that ultimately will go head-to-head with other multimedia sites such as CNBC, CNN and Bloomberg.
AG Barrington Releases Salary Survey:
AG Barrington, a financial technology recruitment and research firm released findings of its first-ever Salary Survey at the SIA Technology and Management show. AG Barrington surveyed 200 mid- to senior-level employees and focused on the compensation packages of the technology professionals
during the 1999 year in positions ranging from portfolio management
and accounting, front-office trading,
risk management and data warehousing technology.
Sparks Fly on Market Structure Panel over Nasdaq Super Montage
In a debate on market structure at the SIA Technology Management Conference, two ECNs-Bloomberg TradeBook and Instinet-accused the Nasdaq Stock Market of being
anti-competitive with respect to its so-called Super Montage proposal pending at the SEC.
Long Range IT Strategy Top Concern
A recent Gartner Group study found that the top three management issues for IT directors include long-range IT strategy, recruiting and retaining staff and meeting service levels.
New Fund Sets Sight on European e-Commerce Surge
A recently released report by Financiere Rembrandt, a Paris-based investment management company, shows that Internet-related investment opportunities in Europe are set to make up for lost time in the next couple of years.
Phone Prevails as Primary Means of Client Contact
Although large companies are increasingly reaching out to clients via the Web, many of these customers are still choosing to contact the firms via phone.
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