Content posted in June 2003
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Buy-side firm says Bye-Bye
Transamerica Investment Management opts to replace current technology systems with enterprise solution.
Lifting Markets Don't Sway Short-Term E-Broker Enhancement Plans
The ongoing equity markets rally, accompanied by the long-awaited return of retail investors, might lead you to believe that discount brokers are readying waves of new creature features and services to inextricably lock self-directed investors into the low-cost Internet channel.
ELECTRONIC TRADING BRIEFS
Shareholders of Nasdaq Europe votes to close Nasdaq Europe; Former straight-through-processing executive at Reuters emerges at Deutsche Bourse; FlexTrade Systems unveils suite of browser-based tools.
MARKET DATA BRIEFS
Reuters and Cantor Market Data join forces; Bear Stearns' daily fixed-income-pricing data now distributed by Moneyline Telerate; Market News International launches an electronic-mail-notification service.
RISK MANAGEMENT BRIEFS
SEB Asset Management goes live with Trema Finance KIT; Reuters to disseminate GFI Group's credit-default-swap data and Fenics Credit pricing tools; SunGard Trading and Risk Systems releases new version of asset and liability management software.
INVESTMENT TECHNOLOGY BRIEFS
Alexandra Investment Management announces it will implement Sophis' Value; Butterfield Fund Managers Limited selects Global Investment Systems; Eze Castle Software teams up with FutureTrade Technologies.
OPERATIONS BRIEFS
City Networks working with the Automated Confirmation Service (ACS); Princeton Financial Systems introduces PAM InfoStream; The Depository Trust & Clearing Corporation announces launch of expanded and enhanced communications network.
Welcome to the State of Linux: Population Rising
Though Linux has achieved significant adoption in the world of computing, and offers the ability to exert greater price pressure on hardware vendors, vertically aligned financial-services-technology providers have yet to port to the new platform en masse, says Dushyant Shahrawat, senior analyst with TowerGroup.
New Risk Vendors Bet Big on SIA Tech Show
Financial institutions aren't the only ones managing their risk when it comes to market activity. Nascent risk-management vendors are also hedging their bets at this year's SIA Technology Management Conference & Exhibit by seeking out new clients.
Asset Control Expands Its Suite
Asset Control (booth #3127), a Netherlands-based provider of investment-data-integration solutions, will be demonstrating its newest AC Business Suite applications on a live feed from its ACDEX outsourced data-management service.
Avocent Rolls Out Larger Flat Panels, Blade Product
When Don Davidson, president of Avocent Digital Desktops (booth #3500), takes a booth at the SIA show, he does so because at any time, "The CIO of Goldman or another large financial institution will walk the floor," he says.
SunGard Rocks With Direct Access To BRASS
With competition heating up in the direct-access space, SunGard Trading Systems/BRASS (booth #s 2411 and 2609) is unveiling a new front-end interface called U2 from which broker/dealers and buy-side institutions can launch smart-order routing to multiple trading destinations.
Bullrun's Adviser Tool Targets Client Relationships
Turning the spotlight on equities, Bullrun Financial, Inc. (booth #1740) is launching a portfolio-management tool today that aims to help financial advisers strengthen the client relationship with retail investors.
SEC Filings for Sale
Edgar Online (booth #1839), a Connecticut-based vendor specializing in communicating public-company information contained in Securities and Exchange Commission filings, has released a new solution for financial-services firms.
Sky's the Limit With STARS
The derivatives market is expanding rapidly and so is the need for comprehensive trading and risk systems.
Setting a New Standard With VRXML
Vendor Reporting eXtensible Markup Language is the new XML on the market-data block, and it has finally begun to get attention from vendors.
Is Technology Really Important?
Larry Tabb, WS&T contributing editor and founder of The Tabb Group, reflects on the theme of this year's SIA Technology Management show - "IT Matters."
The Worm Has Turned
Financial institutions are struggling to comply with the SEC Rule 17a-4 requirements, which defines how information must be stored electronically in a non-erasable format, also known as Write Once Read Many (WORM) technology.
Summit Climbs Structured Products
Summit Systems (booth #4201),
a front-to-back-office systems provider, has taken on the complicated world of structured products.
Fixed-Income Focus
While many vendors in the securities industry are breaking down their solutions to offer separate components, Thomson Financial (booth # 3200) is taking the opposite approach.
New Alliance May Expand Your Options
Tackling the options-trading markets, EGAR Technology, a New York-based financial-technology-systems provider, and HyperFeed (booth #1427), a managed-exchange platform-services provider, will announce their new strategic partnership.
IPC Touts the Power of VoIP in Trading Turrets
Two years ago, IPC Information Systems (booth #1509) led the charge in adopting voice-over-Internet Protocol (VoIP) for trading turrets. This year, IPC is taking it to the next level by demonstrating trading turrets as native IP-devices that can talk to any device with an IP-address.
Regenerating Trust With Compliance Technology
Transparency and accountability are on everyone's mind in the financial-services industry as numerous corporate scandals have brought a wave of distrust from investors.
The Power of Partnerships
We've decided to take some of our own advice. Time and time again, we've talked to you about the importance of integrating technology and processes among synergistic departments.
IT Spending to Decline, Again
For the first time in history, IT spending in the U.S. Securities Industry is expected to decline over a two-year clip, according to a report by Celent Communications, a Boston-based research firm.
Consolidation of Corporate-Action Vendors?
Only 18 percent of international securities firms are expected to purchase corporate-actions technology within six months, according to a recent survey jointly commissioned by SmartStream and SWIFT, and conducted by CityIQ.
Anti-Money-Laundering Technologies to Peak in 2003
In order to gain greater control over the parameters and conditions of their operations, top-tier broker/dealers have been implementing comprehensive USA Patriot Act solutions.
Will the NYSE’s Specialist Probe Open the Listed Market to ECNs?
An investigation by the New York Stock Exchange (NYSE) into trading practices by specialist firms has ignited a firestorm of criticism against the exchange from institutional traders.
Security Handoff
More large companies are turning to service providers to handle their security.
Beyond Compliance, Toward Innovation
This year's Securities Industry
Association's Technology Management Conference & Exhibit, themed "IT Matters," could have as easily been called "Nobody Wants to Go to Jail."
IT Spending Wanes as Security Industry Mends
Like a patient who has undergone a heart transplant and needs to recover before resuming full activity, the securities industry is still suffering from the corporate scandals and excesses of the Internet bubble.
Execs Attend Tech Show with Disparate Goals
Attendees at the SIA Technology Management Conference & Exhibit wear badges that display practically every color of the rainbow. Yet, no matter what the hue of the nametag, one theme was echoed through many mouths: "Do more with less."
Straight from the Reader’s Mouth
When WS&T wanted to take the pulse of the industry, we couldn't think of anyone better to speak with than our very own Reader Advisory Board members.
Firms Seek IT-Structure Holy Grail
In a decade of change, featuring everything from expansive growth and shifting technologies to tough competition, mergers, layoffs and belt tightening, one thing has remained constant: chief information officers continually restructure their departments in search of the perfect model by which to govern operations.
Merrill Lynch Brings Mainframe to Web With X4ML
In an effort to reduce development costs when opening up back-office, mainframe-hosted programs to requests by Internet-based applications, Merrill Lynch has developed XML for Merrill Lynch (X4ML).
The Market Makers' Makeover
Decimal pricing and razor-thin profit margins are pushing wholesale market makers to overhaul their trading operations.
CBOE Bets Streaming Quotes Will Cool ISE
The Chicago Board Options Exchange is launching a hybrid-trading system with streaming market-maker quotes to counter its all-electronic rival.
An Emerging ’New Science’
Basel II is supposed to help firms survive a crunch by forcing them to keep more cash on hand, but will compliance with the accord leave their hands tied?
Outsourcing: Coming to a Data-Management Department Near You
Market-data departments may be the next target in the outsourcing evolution. But is handling market data too complex to hand off?
Playing Buy the Rules
Recent clarification and possible additions to the USA Patriot Act are forcing buy-side firms to step up to the plate.
Doing More With Less ... and Less
Smaller staffs, smaller budgets and increased regulations have combined to make running operations at a financial institution a daunting task.
Search For the Single Right Answer
Looking to solve one of the most frustrating issues in the securities industry, the DTCC is entering into the corporate-actions-processing fray.
The Challenge
Managing hundreds of desktop computers is no easy task. Firms can't afford to have their traders and brokers down while IT staff rummage around desks replacing broken units. Now, there's an alternative to decentralized-workstation computing.
A Conversation with Northern Trust’s Tim Theriault
WS&T Managing Editor Anthony Guerra recently sat down with Tim Theriault to learn how he has put Northern Trust at the forefront of institutions that are looking to streamline and automate by taking the phone and fax out of the corporate-actions equation.
Reconciliation Must Evolve With the Times
Given the downturn of the markets, the last 18 months have witnessed a considerable churn in the reconciliation-technology solutions that address the securities and investment industries.
Control the Data or It Will Control You
The continued focus of organizations on operational efficiency and straight-through processing (STP) is leading to a re-examination of how data and, specifically, data duplication is managed across IT infrastructures.
HyperFeed Models New Offering
Market-data vendor HyperFeed Technologies has launched a new model for its services, called Managed Exchange Platform Services (MEPS).
Barra Aides Attrribution
Risk-management vendor Barra says it has released a product that will allow investment companies of all sizes to analyze investment performance using daily data.
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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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