Content posted in October 1999
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Risk Management Spending on the Rise
Spending on risk management solutions continues to be on the rise as buy-side institutions are increasing their risk coverage and are moving toward new functionality in vendor supplied solutions. Recent research conducted by The TowerGroup and InvesTech Consulting Group shows that risk spending will increase over the next five years as buy-side firms seek out an increasing number of risk systems.
Nirvana Systems and DBC Form Alliance
Nirvana Systems has interfaced its OmniTrader market analysis software with Data Broadcasting Corp.'s eSignal market data application.
Askari Introduces New Global View
Risk management solutions provider, Askari, is releasing an enhancement to its RiskBook analysis tool.
PaineWebber, CSFB and Lehman Brothers Join Redibook ECN Consortium
Last week, PaineWebber, CSFB, Lehman Brothers, TD Waterhouse Group and National Discount Brokers Group all signed letters of intent to purchase minority stakes in Redibook ECN.
Order Management Vendors, like MacGregor and Decalog, Build "Intelligent" Links to ATS'
Order management system vendors such as Décalog and the MacGregor Group are developing "intelligent" links to ATS's that afford buy-side traders more control over their trading strategy.
INDATA and Precision Trading Score Wins at Rochdale Investment
Rochdale Investment Management has signed a deal to use INDATA's I.M.S. for Windows suite of portfolio accounting, performance measurement, portfolio reporting and trading products.
Rochdale Investments Selects INDATA for Front-to-Back Office Systems
Rochdale Investment Management has signed with INDATA for I.M.S. for Windows, its suite of portfolio accounting, performance measurement, portfolio reporting and trading products.
H&R Block Looks to MoneyStar For Expanded Services Infrastructure
H&R Block is looking to grow beyond its tax preparation services into the ever-lucrative investment management arena.
ITG Introduces New Cost Analysis Tool
Investment Technology Group is rolling out a new Web-based Transaction Cost Analysis tool.
Equitable Co.'s, Now AXA Financial, To Tie Together Client Data
AXA Financial is looking to Candle Corp.’s flagship middleware product, Roma, and FileNet’s imaging and workflow system to link client information stored in a number of disparate legacy systems.
All-Tech Jumps on After-Hours ECN Bandwagon, Prepares to Extend Hours
All-Tech Direct last week unveiled it plans to join the much-hyped, after-hours trading consortium of electronic communications networks.
With One Eye On Brass, Spear Leeds & Kellogg Unveils EagleTrader
Spear Leeds & Kellogg is developing an equity trade order management (TOM) system that is expected to compete head-on with Automated Securities Clearance’s Brass—the leading TOM in the Nasdaq market.
Electronic Connectivity Empowers Buy Side, Threatens Sell Side
According to the results of an Enterprise Technology Consultants (ETC) study, nearly one half of buy side respondents claim they will in the near future trade only with firms that accept order flow and send execution reports electronically.
AMVESCAP Expands Pact with MacGregor
AMVESCAP— has decided to deploy MacGregor’s Merrin Financial Trading Platform in support of more than 300 equity traders and portfolio managers worldwide.
As CLOB-Like Device Nears for Nasdaq, Opponents Again Begin to Stir
The NASD is moving closer toward achieving its previously stated goal of creating a central limit order book (CLOB) for Nasdaq stocks.
After-Hours Trading, ECNs, Dissed by Bear Stearns' "Ace"
As after hours trading heats up, Bear Stearns gives the trend the cold shoulder.
FIX For Fixed-Income Securities Expected By Next Year
The Global FIX Steering Committee has charged a working group to look into the future of FIX for fixed-income securities.
WorldStreet Gearing Up for Buy Side With American Century Investments
WorldStreet Corp. is looking to reengineer its Web-based financial news and data aggregation and contact management system, WorldStreet Sales, with a little help from American Century Companies.
Barclays Sells Longview to TenFold, Shelves Crossing Network Project
Only a year after buying the Longview Group, Barclays Global Investors has sold the order management system vendor to TenFold Corp, a software and services company.
Electronic Order Display Window Nasdaq's Newest Weapon
The Nasdaq last week unveiled its new Electronic Order Display Window, which will display best bids and offers and integrate SOES and SelectNet execution systems for market participants.
Pacific Rolls Out Latest Stratus Hardware
The Pacific Exchange recently upgraded its Stratus Computer-supplied servers.
Buy Side Turns to StreetEvents.com
StreetEvents.com is planning to launch a password-protected site that aggregates data on earnings events and quarterly conference calls on behalf of investment managers and institutions.
SunGard Expands Internet Offerings with Exchange Market Systems Acquisition
SunGard Data Systems has purchased Exchange Market Systems (EMS) which will be folded into its SunGard Brokerage Systems unit.
MarketXT Tabs IXnet for Network Management
MarketXT, the retail-oriented, after-hours equities trading system formerly known as Eclipse Trading, has hired IXnet to manage and maintain its network.
Invista Capital Looks to Thomson
Des Moines, Iowa-based Invista Capital Management, a subsidiary of Principal Capital Management, is installing Thomson Financial Software Solution's Portia as its portfolio accounting system, and is planning to integrate it with Thomson's trade order management system, OpenTrader, which the firm has used since 1995.
Order Management Vendors Building 'Intelligent' Links to ATSes
With the buy side taking advantage of new, alternative pools of liquidity such as ECNs and crossing networks, order management system (OMS) vendors such as Decalog and the MacGregor Group are moving to create "intelligent" links to these alternative trading systems.
CME Chairman Weighs in on For-Profit Pursuit, Reveals Thoughts on CBOT/Eurex
The board of directors at the Chicago Mercantile Exchange will receive a "definitive proposal" on demutualization this month, and will then explain and discuss that proposal with the Merc's members.
BondLink Strikes Deal With MBIA; Will Offer Munis, Converts, Emerging Market Debt
Trading Edge has entered into an agreement with MBIA-a U.S. financial guarantor of municipal securities-to offer municipal bonds to users of BondLink.
NEON Mulls New GSTPA Connectivity Biz
New Era Of Networks is considering entering a new business--creating a service bureau to support connectivity to the Global Straight-Through Processing Association's transaction flow manager (TFM).
Survey Finds Buy-Side Automation on the Rise
Preliminary results of a survey researching the extent of trading system automation in the fixed income and equity arena reveal that a vast majority of respondents are currently or are interested in transmitting trades electronically to brokers.
Firms prep for T+1, using middleware to get them there
Middleware-the technology that sits between hardware and software, holding the promise of total communication in its grasp-has been irreverently called technology's glue. This is apropos for the financial industry, where middleware got its start filling the numerous gaps in the transmitting and processing of trades.
Orbitex Uses Advent for STP
Young company moves away from manual processing toward STP solution.
Presenting at SIBOS ... STP and More STP!
Straight-through processing and the move to a T+1 settlement cycle are buzz words that you'd better get used to hearing if you plan on attending the annual SIBOS convention in Munich. Exhibitors and delegates at the S.W.I.F.T-sponsored SIBOS convention, taking place September 13 -17, will be highlighting and investigating the latest in straight-through processing. Wall Street & Technology takes an inside look at what exhibitors are going to be showing at SIBOS as the march to STP continues.
Derivatives Standards
Collaborating IT professionals at J.P. Morgan & Co. and PricewaterhouseCoopers (PWC) have spent the last half year hunkered down in their New York headquarters creating what they call FpML-Financial Products Markup Language-an XML (eXtensible Markup Language)-based protocol that allows for information sharing and electronic dealing of derivatives and foreign exchange products.
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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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