Content posted in April 2007
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Broadridge, GoldenSource and IBM Partner to Offer Hosted, Integrated "Golden Copy"
For firms that have multiple security master files, or for some other reason realize that they need a better way to manage reference data across the board, but lack the time and resources to do the necessary data cleanups, data distribution and data integrations, Broadridge (formerly ADP Brokerage Services), GoldenSource and IBM teamed up today to announce a joint solution.
Wall Street and DTCC Bring Derivatives Processing into 21st Century
At the SIFMA show today, Frank De Maria, global head of derivative client services and operations at Merrill Lynch, offered an interesting quote from Alan Greenspan, made six weeks ago: "I was shocked to find credit derivatives settlement and clearing operated with 19th century technology." He was talking about trades being handled by phone, fax and paper. De Maria then Googled other 19th century inventions and found the stapler, barbed wire, dynamite and the zipper among them. Point being, it's
SIFMA Ops Show Opens With Merger Update
It's the first day of the SIFMA Operations Conference here in sunny, 90-degrees Orlando, FL, although as several of this morning's speakers noted, you wouldn't know it because of the sealed, artificial air-conditioned environment we're in. But don't pity us poor conference-goers -- many of the 700 attendees golfed all day yesterday and last night's outdoor cocktail reception on a patio of the Gaylord Palms Resort featured perfect, low-humidity weather, a steel drum band, a generous open bar, cra
Experts Share Basic Ways To Reduce Power Consumption In Data Centers
What are some basic ways of reducing power consumption in data centers? We asked a few experts for their advice.
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Aqua, the new electronic equities trading platform that will be launched later this year by electronic dealing network eSpeed, named Brian Weston as its new chief technology officer.
Ameet Patel, Partner and CTO at Acartha Group, Shares Insights
IT leaders typically don't set out to be mavericks, but the career of Ameet Patel has taken him in that direction. In a conversation with Paula Klein, executive editor of WS&T sibling publication Optimize, Patel shares insights from years of experience at Chase and JPMorgan Investment Bank's technology-advisory group and the venture-capital (VC) world he now calls home. Currently, as partner and CTO at the Acartha Group, he deals with tech start-ups to devise strategies and deliver results. In t
Green Is the New Black
Wall Street Firms Reduce Data Center Energy Consumption
A New Foundation: SOA Implementation for Business Transformation
Implementing a successful service-oriented architecture starts with making the right decisions early in the process.
Excepts from Last Month’s Most-Viewed Blog Postings
Below are excerpts from last month's most-viewed WS&T blog postings. To read these and other blogs from our editors, or to add your own comments, please visit wallstreetandtech.com/blog.
Electronic Trading Boom Spurs Spending on Advanced Trading Technology
The rapid growth in electronic execution of institutional equities trades will spur U.S. capital markets participants to spend $860 million on advanced trading technology this year, and spending will reach .3 billion by 2010, according to a TABB Group report.
Buzz Is All About Crossing Networks And Dark Pools, Citi Exec Says
I just talked with Tim Reilly, managing director and head of North America electronic execution sales at Citi about Citi Electronic Execution 's IS Shadow Strategy. Here is what he had to say:
Tidbits from Today's Linux on Wall Street Show
At the Linux on Wall Street show today at the Roosevelt Hotel, there was much discussion of the increasing use of the Linux open-source operating system and open source in general on the Street, which is being driven partly by the desire to cut costs and partly by the appeal of particular applications that happen to be open source. "Companies look at, does this solve my business problem, regardless of whether it's open source," says Monica Kumar, senior director of product marketing, Linux and o
IBM Wants to Cure Your Server Sprawl
When Scott Handy, IBM's vice president worldwide marketing and strategy for System p, says he likes to evangelize, he's kidding. But although his delivery is low-key, evangelize he does. In his core message, you and I are not going to hell, but Sun Microsystems' Solaris server sales might be. After assuring us that the "p" in System p stands for "performance," Handy told us what's new with System p, including IBM's announcement this morning that x86 Red Hat and Novell Linux [the open source
Barclays Bank Fights Back Against Phishing Scams
Barclays is sending out free handheld chip and PIN card readers to customers, who will use the devices when they access their online bank accounts to set up payments to third parties.
Hedge Funds Are Focusing On Disaster Recovery Following the Recent Market Volatility
Following the market turmoil in late February, hedge funds are redoubling their disaster recovery and business continuity efforts.
Unexpected Surge in Trading Volumes and Volatility Raises Infrastructure Concerns for Hedge Funds
Hedge funds reexamine their infrastructures and applications to ensure they can withstand higher trading volumes and volatility.
Harvey Pitt: SEC Looking, Not Acting on Dark Pool Explosion
The question is constantly out there-Will the SEC place new regulations on non displayed pools of liquidity otherwise known as "dark books?" That was the topic of discussion at a Liquidnet press luncheon yesterday morning featuring Seth Merrin, Liquidnet's founder, and Harvey
Agency Brokerage AXES Launches Global Execution Management System
AXES, a global agency brokerage, has launched a global execution management system to facilitate electronic trading to the over 100 countries it services. The system, called GEMS offers cross-border trading in developed, emerging and frontier markets, notes Peter Gaffney, AXES president.
Pipeline Develops Prediction Engine for Switching Traders into the Best Performing Algorithm
After expelling third-party algorithms one month ago from passing through its block market, Pipeline Trading Systems LLC has invented a method of predicting the performance of third-party algorithms that
its customers can still access through DMA platforms.
On Friday, Pipeline said it has created an Algorithm Switching Engine that is able to predict the performance of third-party algorithmic trading strategies and offer these algorithm
NYSE Preps for Monday Launch of NYSE Bonds
The NYSE is preparing to launch NYSE Bonds, a trade-matching platform created to emulate trading on an equities exchange rather than the request-for-quote model familiar to the fixed-income market. John Holman, VP of Fixed Income, NYSE Group, notes that the initial focus is corporate bonds, but he is considering expanding the system to include Treasuries, munis, credit default swaps and convertible securities down the road.
IT Performance Strongly Affects the Bottom Line, Survey Finds
If you're an IT executive, stand tall - you're more important than you (and others) may give yourself credit for. According to the partial results of a survey of 220 senior executives and IT managers released today, IT performance is absolutely critical to overall revenue. The study, which was commissioned by business service management software vendor Managed Objects, found that 66% of senior executives think IT systems are so important
Lou Eccleston Takes Over at Pivot Solutions
Lou Eccleston has joined Pivot Solutions as chairman and chief executive officer. Eccleston will be working to further Pivot Solutions' IMtrader buy-side network, which brings together instant messaging, information management, research and trading technology for institutional investors.
Fidessa's Acquisition of Latent Zero Means Synergies for Buy and Sell Side
With more multi-asset trading on the horizon and buy-side firms clamoring for streamlined integration of OMSs and EMSs, London-based royalblue group, the company behind Fidessa, has agreed to acquire LatentZero, a provider of buy-side order management systems, for $125 million.
According to Fidessa CEO Mark Ames, the reason for the acquisition is that " LatentZero offered us a unique opportu
SEC Aims to Make AML Compliance Easier
The SEC's Office of Compliance Inspections and Examinations (OCIE) today announced the availability of a new online resource for anti-money laundering (AML) information. The "AML Source Tool" compiles and organizes all of the major rules and regulations surrounding AML.
"We're hoping that this AML Source Tool will assist broker-dealers w
NYMEX Buys Into Optionable
As Nasdaq continues its drive to make its mark in the options market with a potential Philadelphia Stock Exchange merger, the NYMEX is also beefing up its stake in electronic options trading. NYMEX completed its purchase of a 19 percent stake in energy derivatives brokerage firm Optionable this we
Time for Fresh Thinking on Data Center Management
This morning, I dropped in on the thinktank: data center Expert Series Tour our sister publication Network Computing is running; today's event was at the posh St. Regis Hotel in New York City (my clothes are almost starting to dry). Art Wittmann, Network Computing's Editor in Chief, zeroed in on some of the key issues facing data managers and executives trying to efficiently run data centers today. Most of the attendees had
Citi Restructuring Focuses on Cutting IT Costs, Jobs
Citi laid out its plans for a major restructuring as anticipated this morning. The financial supermarket expects to realize an extraordinary $2.1 billion in savings this year, which it expects to grow further, reaching $4.6 billion in 2009. While this news is stellar for shareholders, it is a dispiriting announcement for the bank's
Aite Group's Bailey Weighs In on Nasdaq-PHLX
A potential merger between Nasdaq and the Philadelphia Stock Exchange could quickly make Nasdaq a substantial player in the options market. The Philadelphia Stock Exchange is the third-largest options market, after the CBOE and ISE, with 15 percent market share, notes Senior Analyst Brad Bailey of Aite Group. Nasdaq has been vocal about its desire to enter the options market with a goal of garnering 20 percent market share. A merger with Philadelphia would give it 15 percent market share right
ACTIV Financial Acclerates its Ticker Plant Technology
As the industry struggles with increasing data message rates with no end in sight, market data technology providers are searching for alternative solutions to the current method of throwing more boxes at the problem.
Two weeks ago, ACTIV Financial, an aggregator of data feeds and low-latency direct-exchange feed technology, announced that it's porting, its next generation market data ticker plant solution, directly onto silicon.
Interactive Brokers Reports Trading Contest Results
Interactive Brokers (IB) reported the results of its 2007 Collegiate Trading Olympiad with the top three winners creating automated trading programs utilizing different strategies with stocks and options and futures.
Brian Eckerly, 22, who won first place, received $100,000 in prize money. Eckerly recently graduated from Ohio State University with a degree in electrical an
Introducing Greenhouse Gas Trading in Asian Commodity Exchanges
Al Gore's Oscar winner "An Inconvenient Truth" on alarming levels of global warming would be rebuked by cynics as a convenient means of reviving his ailing political career.
Hong Kong Hedge Fund Sets Up Shop with TradingScreen and Imagine
DragonBack Capital, a Hong Kong-based multi-strategy hedge fund, officially launched in March and is busy building up its assets and portfolio. Three partners are heading up the fund with combined experience in the Asia Pacific markets of more than 50 years, which CEO Robert Lance says gives his fund a distinct local advantage.
ING Investment Management Refreshes Trading Turrets
ING Investment Management Americas upgraded its buy-side trading floor in New York City recently, deploying IPC's IQ/MAX trading turret there and in Hartford, Conn. The 10-person trading floor, located at 230 Park Ave. in New York, made the move to the newest version of the turret last November. In addition, the firm installed the new turret for a single individua
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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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