Content posted in November 2007
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Morgan Stanley, Trading Technologies Ink Deal
Under a new strategic agreement, Morgan Stanley's Client Listed Derivatives group will make Trading Technologies X_Trader platform available to its customers as well as its internal trading desks on a global basis.
What is the Actual Cost of a Data Breach for a Financial Firm?
As the number of data breaches reported annually continues to surge, costs incurred by companies who report an incident are also increasing, according to a new study by security and privacy research organization, the Ponemon Institute.
Pragma and Weeden to Launch OnePipe to Manage Fragmented Liquidity Across Dark Pools
Pragma Financial Systems LLC and partner Weeden & Co LP plan to launch a liquidity management system in January that will allocate orders among over 30 dark pools.
Expect Continuous Change to Accelerate in 2008
The summer of 2007 credit crisis served as a wake-up call for the securities industry, and a host of business drivers and technology trends will reshape the markets in 2008.
Retail Traders Apply Algorithms to FX
"We're seeing retail traders now come in building their own models and who are involved in high-frequency trading," says Thomas Plaut, CEO of online foreign exchange broker FX Solutions.
The Feds Get Web 2.0 and AARP Doesn't Like It
As long as Baby Boomers and the Greatest Generation lead the way in terms of investable assets, the push and pull between old-school reliability and new-school efficiency is something that brokerages, regulatory bodies, etc. will be forced to contend with.
Predictive Analytics and Complex Event Processing Technology Move to Cutting-Edge of Financial Services Industry
Financial services companies are analyzing rising data volumes with predictive analytics to glimpse the future, segment consumers, build stronger customer relationships and reduce fraud.
Identity Theft Top Priority for State Legislators
More than 200 bills are currently pending at state level.
LongView and BIDS Announce Connectivity
Linedata Services announced connectivity between its LongView Trade Order Management System (OMS) and the BIDS altnerative trading system (ATS) for anonymous block trading.
2008 IT Budgets Up More Than 10% for Financial Services Firms
Despite a difficult year, most financial services firms plan to increase their IT budgets for 2008. But priorities differ across the capital markets, banking and insurance sectors.
Banks' inability to price and measure risk on complex financial products is alarming and needs to be improved to avoid another market meltdown.
Equity Transactions Boom Across Global Exchanges
Equity transactions increased by an average of 44 percent in 2007.
For Wealth Managers, Specialization Trumps Generalization
Consultative wealth managers earn three times more than traditional financial advisors.
Fully Equipped NYC Offices to Be Offered to Startup Hedge Funds
For startup hedge funds and existing hedge funds that would like to have an office in New York City, Eze Castle Integration announced today it's going to start offering "managed suites" at 529 Fifth Avenue and 44th Street (near Grand Central Station) early next year. The company will provide office space, computers loaded with basic office software, market data feeds, Blackberry services, a telecom infrastructure, conference rooms, a receptionist, a 24x7 help desk, a shared data center, disaster
New Model Attempts to Price CDO Options
In the aftermath of the CDO (collateralized debt obligation) crisis, for firms that are ready to dive into securitized credit products again, a new pricing model came out today for valuing exotic credit products such as options on tranches and forward starting CDOs (a forward starting CDO is a single tranche CDO with a specified premium starting at a specified future time).
Quants Caught Off Guard During the Credit Crisis
Models developed by quantitative hedge funds didn't work during the credit crisis. Are the quants to blame for the market turmoil?
Are Brokers Threatening Buy Siders to Increase Flow?
As buy side brokers decrease the number of brokers they use, sell siders are placing new demands on the buy side. One is send more of your flow to us or risk losing our top tier services.
Achieving Alpha: How Do Traders Do It?
All traders talk about it, but how are they actually achieving alpha? Several buy-side traders say the key is creating long-short funds that enable traditional firms to act more like hedge funds.
U.S. Trading Technology Spending Slowed in 2008 by Credit Crisis
U.S. spending will slow in the coming year, but growth is on the horizon abroad.
Upsurge of Attacks Against Banking Sites
Security firm F-Secure has warned of an upsurge in attacks against banking sites, using a new generation of malicious codes in a technique called "Man in the Browser."
Independent Research Continues to Grow in Popularity in 2008
As the buy side demands more forms of alternative research, brokers will continue to create new CSAs and sign up additional independent research providers.
Derivatives Processing Will Attract More Dollars, Attention in 2008
It's no longer just about efficiency -- automating derivatives processing can prevent costly mistakes that will be compounded by market turns.
ATSs Favor Independent Tech Supplier
New alternative marketplaces that are gearing up to compete with traditional exchanges are staying clear of the exchange-aligned technology solution providers.
Technology Executives Have a Need for Speed
Analytics, risk management and integration will top financial services IT executives' to-do lists in 2008.
Be Careful of The Transparent OTC Market
Be careful what you wish for. A transparent over-the-counter (OTC) market could cause liquidity to dry up.
BGC Appoints Clive England as head of e-commerce for North America
AS head of e-commerce at BGC, Clive England will develop hybrid trading applications in the U.S., leveraging the company's technical backbone in the U.K.
GAIN Hires Andrew Haines as CIO
As CIO, Haines will be responsible for overseeing trading and business application development, infrastructure applications and business continuity planning.
Citisoft Appoints Clark as Global CEO
Clark will focus on growing the company's business in Australia and Asia.
Data Security: An Increasingly Daunting Task
With more data privacy regulations in the pipeline and a focus on outsourcing, companies must ensure they are protecting data both internally and externally.
Streamlining Global Compliance
Globalization continues to be a trend, and companies are finding they can't manage current global compliance requirements efficiently.
Wall Street Firms To Globalize IT in 2008
Markets in Asia and Latin America are growing more lucrative, and investment banks and asset managers are setting up shop overseas. But firms must globalize their IT to support international business.
Citi, Wachovia, Bank of America Among Firms to Step Up Green IT Investments in 2008
Virtualization, consolidation and remote desktops will be among the most popular initiatives.
Complex Event Processing Moves Beyond Algorithmic Trading
Risk Management is one of the areas in which firms are finding that CEP can help them gain a competitive edge
Demand for Quants Heats Up on Wall Street But Recruitment is Hard
As trading becomes more mathematical and firms look to revamp their risk management systems, the demand for quantitative skill sets is never ending.
Exchange Consolidation Raises Issues for Staying on Rival's Technology Platform
Everyone's talking about the wave of global exchange consolidation, but what about the exchanges that end up running on a competitor's technology platform?
Mutual Fund Shouts Out to Its Peeps in Generations X and Y
A new mutual fund attracts Generation X and Generation Y investors with a simple strategy: communicate with them in a way they can understand and relate to.
Top Level Financial Execs Targets of Cyber Attack
In the last 24 hours, there has been a spike in malicious attacks against banks, purportedly coming from the U.S. Department of Justice and targeted specifically at CEOs, CIOs, CFOs and vice-presidents at financial institutions.
SIFMA Fixed Income Conference Highlights Risk Management
Given the credit market turmoil, it's not surprising that risk management was a major theme at the SIFMA Fixed Income Technology and e-Trading Conference last Thursday in New York.
How Well Can Wall Street Handle Pandemic Flu? Drill Results Are Mixed...
With bird flu outbreaks cropping up from Europe to Asia, scientists say the new pattern of spreading infection makes a worldwide human pandemic more likely. So how well are U.S. financial firms prepared for a pandemic? 2,775 financial firms recently took part in a drill to try and answer that very question. The results were a mixed bag...
Agency Brokers See Growth as Business Evolves
Automation and electronic trading may have taken over Wall Street, but the buy side continues to rely on its agency broker counterparties for a more specialized, personal trading experience.
High-Speed Market Data
The line between market data and trading platform now has blurred.
Speeding Things Up With Infiniband and Hardware Acceleration
We're still operating under the assumption that there is no limit in terms of potential volume craziness during periods of high volatility.
Unified Communications for Capital Markets
The rationalization, certification and integration of communications tools with legacy desktop systems and proprietary applications will create competitive advantages for capital markets end users.
Broker-Dealers vs. Agencies: Broker-Dealers Still Get the Majority of Commissions
Both the agency broker and broker-dealer service models are important to traders like Bryan Kievit, head trader for $600 million hedge fund Accipiter Capital.
Asia Tops World for Money Laundering Risk
A global survey of senior anti-money laundering (AML) compliance officers identified Asia as the region currently experiencing the greatest increase in money laundering risk.
Electronic Trading in Asia: the Pitfalls and Opportunities
The opportunities and challenges of electronic trading in Asia was the focus of a roundtable discussion sponsored by NeoNet Securities today in New York.
Financial Services Outperform Other Industries in Records Management
Sixty-five percent of public and private organizations have not implemented enterprisewide records management policies.
Knight to Acquire Agency Brokerage EdgeTrade for FAN
FAN, the Find And Nail algorithm, created by agency brokerage EdgeTrade, has found a fan in Knight Capital Group.
EdgeTrade's development of FAN, which simultaneously sprays aggregated dark pools and public markets and continuously moves an order in line with shifting liquidity, has led to a lucrative courtship by Knight, a full service broker-dealer, which announced its intentions to acquire EdgeTrade this morning for $59.5 million.
Iraq Stock Exchange To Begin Electronic Trading Early Next Year
Amidst some modestly hopeful signs that Iraqis' quality of life is improving (civillian deaths are down, portions of infrastructure have been restored) and that we're planting the seeds of capitalism in Iraq, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdul-Salam, said today that the exchange will start electronic trading early next year. It will also be open five days a week instead of the current three days.
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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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