Content posted in October 2002
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Island Sees ETF Market Share Decrease After Yanking Its Publicly Displayed Prices
After eliminating the public display of its quotes for its most popular ETFs, Island has experienced a market share decline.
BCP Survey Yields first look at Wall Street's Post Sept. 11 Preparedness
BCP getting a lot of attention at financial-services firms, but some lessons learned haven't become reality.
Chase Taps Oracle Financial Software
JP Morgan Chase embarks on a four-year development of an integrated, global financial- accounting system built around Oracle's E-Business suite.
ELECTRONIC TRADING
The AMEX signs a deal to use Infosys Technologies' IDCE; The London Clearing House selects onExchange's Extensible Clearing System; optionsXpress launches Xspreads.
MARKET DATA
CQG provides Thomson IFR Markets global news and analysis on CQG terminals; Kx Systems supports FTP downloads of NYSE trade and quote data; Iverson Financial Systems releases its Global ETF Monitor for Exchange Traded Funds.
RISK-MANAGEMENT TECHNOLOGY
Reuters now markets Kiodex's Risk Workbench risk- management platform; Sun Microsystems releases its Enterprise Continuity solution; The Professional Risk Managers International Association hosts online discussion forum.
INVESTMENT-MANAGEMENT TECHNOLOGY
Trace Datawise Financial Limited signs an agreement with APT Computer Systems to integrate APT's FIX engine with Trace's MPF product suite; Macgregor announces the appointment of Gary Plotkin, as vice president, Professional Services; PFPC Inc. enters an exclusive-service agreement to market and provide the ADVISORport managed-account platform to managed-account sponsors nationwide.
OPERATIONS
* Dexia Bank Belgium selects intelliMATCH EP to consolidate automatic processing, reconciliation and exception processing; Emerging Markets Clearing Corporation begins processing corporate-debt issues from more than 50 emerging markets; Shadow Financial Systems announces the successful implementation of ShadoSuite.
AMEX To Offer Members Order Routing to Rival Exchanges Via New Front End
The American Stock Exchange has embarked on a daring new project that calls for the exchange to provide its members with electronic access to rival options markets.
Investment Manager Shelves LongView for Macgregor
In the highly competitive space of portfolio management, asking your customer to upgrade may be the best way to lose them.
New Research From Outsell Finds Flat Growth Rate in Financial-Information Marketplace
The top players continue to see revenue growth, but smaller players decline.
ELECTRONIC TRADING
The CSE, Boston Stock Exchange and Montreal Exchange sign deals to use networking technology supplied by Radianz; OneChicago postpones its launch to Nov. 8; CME and KOFEX sign a Memorandum of Understanding to pursue joint business development initiatives in derivatives products.
MARKET DATA
CQG includes Tullett Financial Information's SwapMarkerNorthAmerica on its terminals; ABN Amro implements Xenomorph's market data warehousing solution within its relative value research group; Reuters launches version 11.0 of its StockVal System for equity analysis and portfolio management.
RISK-MANAGEMENT TECHNOLOGY
PeopleSoft releases version 8.8 of its Enterprise Performance Management solution; Lombard Risk Systems releases its FirmRisk Collateral application; QSR Management licenses Principia Parnters' Principia System.
INVESTMENT-MANAGEMENT TECHNOLOGY
* CMC announces its FIX Client API now supports .net and C#; Financial Fusion Inc. announces the support in TradeForce GlobalFIX for Euronext; Putnam Investments announces plans to introduce the Putnam Individual 401(k) plan in early November.
OPERATIONS
John W. Cummings is elected to The DTCC's Board of Directors; ABN AMRO's Private Client Asset Management division selects Mercator to integrate operations at the bank's regional hubs in Luxembourg, Paris and Singapore; La Caja de Ahorros y Pensiones de Barcelona commences live operations on its Gloss solution for securities and corporate-actions processing.
Investment Manager Ditches Macgregor For Charles River
Looking to upgrade its compliance capabilities, Hotchkis and Wiley Capital Management moves to Charles River Development.
Reuters Launches Instant Messaging for Financial Community
Reuters Messaging Service is available free of charge to members of the financial-services community.
MARKET DATA
* HyperFeed will deliver data to Reuters Market Data System customers; * The Intercontinental Exchange forms The10x Group, a market-data services company; * Cicada launches its Information Integrity Services.
RISK-MANAGEMENT TECHNOLOGY
* SurfControl launches version 4.5 of its SurfControl E-mail Filter; * Fulcrum Global Partners implements FaceTime's IM Auditor for instant messaging compliance for its institutional traders; * Kiodex releases an enhanced version of its Kiodex Risk Workbench platform.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Allegiance Capital selects the Macgregor Financial Trading Platform to automate its fixed-income trading; * Bessemer Trust licenses the LongView Trading System for firm-wide use; * Rosenblatt Securities uses TransactTools platform technology to provide direct, electronic connectivity to the NYSE.
OPERATIONS
* Kathy Ball-Toncic becomes Omgeo 's executive director, global STP partners program; * Wilco International announces the upgrade of its CHESS; * SIA uses HelioGraph technology to power its new order-routing and execution-confirmation service, FinestWay.
SuperMontage Set For Oct. 14 Debut, But Instinet and Island Choose Alternative Quoting Destinations
Nasdaq's SuperMontage trading platform, scheduled to launch on Monday, has the support of Archipelago, Brut and Blooomberg Tradebook. But the two largest ECNs -- Instinet and Island -- have decided to post their Nasdaq quotes elsewhere.
As E-mail usage Explodes, Financial Institutions Search for Best Archiving Method
The volume of e-mail has been exploding and financial-services firms are struggling to capture, store and archive messages as regulators tap e-mail as evidence.
Should The Patriot Act have Addressed a Shortened Settlement Cycle?
"We've had to revise our thinking to include the possibility of a permanent terrorist threat..... When a once in a lifetime calamity befalls the financial district twice in eight years, old assumptions are up for rethinking"
ELECTRONIC TRADING
* The Chicago Mercantile Exchange will launch Eagle -- an application that permits electronic calendar spread trading on the exchange's Globex trading;
* NeoNet builds an electronic interface to Nasdaq's SuperMontage order-display and execution network;
* BTEX appoints a new chairman and vice chairman.
MARKET DATA
* Moneyline Telerate extends its network services contract with Savvis through 2009;
* Rick Snape has joined SunGard Market Data Systems as its new president;
* Lincoln Financial Advisors/Sagemark Consulting partners with StatementOne for data-aggregation services.
RISK-MANAGEMENT TECHNOLOGY
* Algorithmics releases its latest version of Algo Suite for enterprise-wide risk management.
* Mitsubishi Corp.'s Energy Business Group selects TradeCapture's ICTS Symphony solution for integrated, multi-commodity trading and risk management. * The SIA will hold its BCP Conference and Exhibition October 29-30 in New York.
Buy Side Sees Room For Sell-Side Improvement
A recent survey indicates that the buy side wants better collaboration from its sell-side counter parties.
Web Services Slowly Catching On
Although the financial-services industry has been somewhat skeptical about Web services, institutions are slowly warming up to the concept.
NewsMakers
Bruce Fador Named Senior Partner at Gustin Partners; FISD Names Hartley Chief Technologist.
Online Cost-Basis Accounting for Broker-Controlled Accounts
PFPC introduced a new cost-basis-accounting service, called PFPC-CBA.
IT Challenge
The paper-intensive account-opening process can be a major burden at financial institutions, especially when it comes to separately managed accounts.
New BCP White Paper Targets Clearing & Settlement
A new white paper released jointly by three government agencies outlines fresh business-continuity requirements and asks for comments.
NYSE Launches XML Standard for Vendor-Reporting Requirements
In an effort to streamline vendor reporting, the New York Stock Exchange has released its VRXML standard for reporting requirements.
SIA Releases Business-Continuity Planning Best Practices
As financial-services firms beef up their business-continuity plans, the Securities Industry Association has released its BCP best-practices guidelines.
SuperMontage and ADF Ready to Take Flight, But Nasdaq Market Remains Jumbled
SuperMontage and ADF are finally here, but the future of the Nasdaq market is far from set.
Linux Garners Wall Street’s Attention
Server Wars: Linux looks to be gaining ground on the entrenched Unix platform.
Can Web Services Live Up to the Hype?
For some time, Web services has been creating a buzz at financial institutions as the new technology which can tie systems and counter parties together. Slow adoption, however, is making many wonder if the promise will ever live up to the hype.
Electronic Revolution Pits ISE vs. Floor-Driven Exchanges
The all-electronic International Securities Exchange has taken the U.S.-options industry by storm, offering clients cheap costs and open access. But floor-based markets, such as the CBOE and PCX, are now fighting back with significant technology initiatives.
The Beat On The Street
Profitability Shift in Wealth Management, Spotlight on CRM; CRM Spending Grows But Problems Abound.
Letters
I'd like to comment on your article as to whether progress is being made with Wall Street disaster recovery; As a consultant, it is our opinion and continued advice to custodians and prime brokers that they preserve the integrity of the margins by curtailing the amount "free" tech they dole out to their buy-side clients.
Straight From SIBOS: Reservations About Basel II Remain
Risk-management executives contend that complying with Basel II may put their firms at a competitive disadvantage.
Montreal Exchange Looks to Break Into the U.K. With Remote Access
The all-electronic Bourse de Montreal is seeking regulatory approval from the U.K.'s FSA to enable London-based brokers to trade the exchange's futures contracts.
Asset Control Releases AC Data Suite for Data Management
New suite of modular components enables users to manage in-house and outsourced data on a single platform.
ELECTRONIC TRADING
* BB&T Capital Markets and Galway Securities Corporation sign deals to use ASP.
* BrokerTec Clearing Company appoints a new chairman and vice chairman. * Trade Information Exchange is now available to institutions.
MARKET DATA
* S&P re-launches its Web site for users to access the full range of S&P data and analytics.
* Aleri forms an alliance with Capco to offer improved data integration solutions. * Moneyline Telerate now provides IBM's Finance Foundation system with applications from its Market Information Server product line.
RISK-MANAGEMENT TECHNOLOGY
* SAS launches a new anti-money laundering solution along with the introduction of its Financial Services Practice.
* The SIA will hold its Business-Continuity Planning Conference and Exhibition October 29-30.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Allegiance Capital selects the Macgregor Financial Trading Platform to automate its fixed-income trading.
* ING Ferri selects and implements GlobalFIX in its project for electronic routing of orders using FIX. * Cameron Systems announces that Financial Fusion's European Sales and Technical Directors have joined Cameron Systems to spearhead further expansion into Europe.
OPERATIONS
* 10 new organizations sign on to use Omgeo CTM.
* Swiss bank, Bank Wegelin & Co. Privatbankiers select its intelliMATCH for automatic processing, matching and reconciliation of cash nostro accounts, trades and holdings, and FX and money-market confirmations. |
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