Content posted in December 2002
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The BMA Selects NEC and Niteo Partners to Help Get its Securities-Master Database Underway
The Bond Market Association takes a big step forward in its quest to develop a securities-master database for fixed-income data.
Buy-Side Firm Plans Omgeo CTM Launch in Q1
Omgeo, which is now offering its Central-Trade Manager platform for non-U.S. trades, is hoping investment managers will start jumping on board.
MARKET DATA
* Dow Jones Newswires releases a test feed for its Dow Jones NewsPlus XML feed.
* Moneyline Telerate releases its WebStation Version 2.2. * Robert Leone is appointed senior director, global relationships at FT Interactive Data.
RISK-MANAGEMENT TECHNOLOGY
Barra acquires all outstanding shares of Financial Engineering Associates in a $21.25 million cash deal; Pacific Coast Bankers' Bank launches a risk-rating system to help financial institutions; GNI Fund Management selects SunGard Trading and Risk Systems' Panorama for portfolio management.
INVESTMENT-MANAGEMENT TECHNOLOGY
PFPC Inc. announced that AssetDirections now offers managed-account sponsors a private-label solution for servicing an enhanced list of products; Monument Securities selects SolutionForge's FIX.NET Server 2002 FIX engine to add FIX connectivity to its current OMS; Harborside+ announces that traders gain access to new sources of liquidity.
OPERATIONS
* Credit Lyonnais Securities Inc. implements SunGard's STN Settlements to manage real-time trade messaging; Commerzbank Securities begins to use HelioGraph's eVent; OppenheimerFunds selects JPMorgan Investor Services as a service provider for their mutual-fund assets.
Emerging Technologies
Each year, there is a new hot trend that emerges and looks as if it may transform the industry.
{VISION 2003} NEWSMAKERS
We asked several Wall Street & Technology readers what they are expecting from 2003, including how their business will change, issues they will face and technologies that will be important. Here's what they had to say:
The Real Deal?
The potential of Web services to revolutionize application communication still seems to be a point of debate for 2003.
USA Patriot Act, Take Two: Compliance Systems for Section 326
Over the past year, America's financial institutions have been participating in the waves of sectional implementation of the USA Patriot Act.
What about Us? FMC Claims to be a Viable Omgeo Alternative
With the death of GSTPA, some see Omgeo as the clear winner in central matching, but Canada's FMC says it also plans to be a formidable player in that post-trade space.
FISD To Facilitate the Formation of a Global Forum for Reference Data Collaboration
The newly formed Reference Data Coalition will coordinate work on reference data issues across the industry.
Townsend Analytics Set to Expand the Reach of RealTick to the LSE, Euronext Paris and OneChicago
Townsend Analytics expects to build electronic order-routing interfaces to the London Stock Exchange, Euronext Paris and OneChicago in 2003.
ELECTRONIC TRADING
The London Stock Exchange and OM AB jointly launched EDX London; The CME launches LMC TRAKRSSM futures; MarketAxess launches Corporate BondTicker.
MARKET DATA
MarketAxess launches its Web-based Corporate BondTicker product; Reuters appoints Gerald Mintz to executive vp and head of Reuters content Management and Distribution Solutions Practice; Thomson Financial releases a Web-based module for market data users and systems administrators.
RISK-MANAGEMENT TECHNOLOGY
Merrill Lynch signs on to implement IMlogic's IM Manager software for the management and archiving of instant messaging across the firm; The Risk Management Association and Automated Financial Systems to provide independent, external benchmarking for commercial lending risk exposure; Information Builders partners with Knowco to launch an anti-money laundering solution for the financial-services industry.
INVESTMENT-MANAGEMENT TECHNOLOGY
Yodlee, Inc. introduces Advisor Pro, the company's latest wealth-management solution; GIS and FRI Corporation provide MFACT users with an expanded pricing interface option; The SunGard FIX Engine v. 4.5 is awarded the SWIFTNet Ready FIX service label.
OPERATIONS
* PFPC Inc. is chosen by Columbia Management Group to provide fund-accounting, transfer-agency and sub-administrative services; DB GFS became the first Asian fund administrator to centrally match cross-border trades live on Omgeo CTM; Omgeo names Scot Knight the managing director of the Americas region.
A Perfect Union?
Combining wealth management with data aggregation may be the next big trend in financial-services technology.
And In This Corner ...
The top players in Nasdaq stocks, Instinet and SuperMontage, will continue to battle for liquidity in 2003.
A Marketplace in Transition
Fueled by the rollouts of NQLX and OneChicago, the SSF landscape will continue to take shape in 2003.
Intruder Alert
The threat of cyber-terrorism has firms spending precious dollars on anti-virus and intrusion-detection software.
Reconciling Reference Data
Enhancing security and improving counter-party identification are the keys to cleaning up reference data in 2003.
In Search of Savings
As a depressed economy continues to tighten purse strings, firms are literally looking far and wide for cost savings.
To Message or Not to Message
That is the question for many firms because of complicated tracking and storage concerns surrounding the growing trend.
The Customer is Still King
In a down market, it's easy to put something like CRM on the back burner, but that strategy may get you the cold shoulder.
Corporate-Actions Conundrum
Corporate-actions reconciliation represents a formidable stumbling block in the race to achieve STP.
Not Quite Right
According to the SIA and BMA, a recently released white paper on business-continuity planning should go back to the drawing board.
Outsourcing Action Plan
Though firms need to start laying down Basel II groundwork in 2003, many questions still need to be answered.
To Catch a Thief
The Patriot Act has firms investigating how technology can help prevent them from being a clearing house for criminals.
Ringing in the New Year
No matter how bad business gets, technology needs are never going to abate. That's why we've put together a shopping list of the issues and applications that will require your attention in 2003.
The GSTPA Calls it a Day
While Northern Trust is certainly disappointed to see the GSTPA Utility coming to a halt, it also makes us take stock in what has been achieved and to look forward to where the industry is going.
No Rest for the Weary
It's time to start looking ahead at the New Year and make sure you are staying focused on the most pressing technology issues.
Instinet to Terminate 300 Employees
In an effort to reduce operating costs by $100 million, Instinet has been forced to reduce its workforce.
The Future Looks Bright for XBRL
XBRL, the XML-based standard for business reporting, is expected to catch on in the coming year as cost savings and efficiencies drive industry adoption.
Mixed Reviews for SuperMontage as Nasdaq Finishes Rollout
Nasdaq has completed its deployment on SuperMontage, but the trading platform has thus far received mixed reviews from end users.
How Alerts Can Support The Advisor's Bottom Line
During preparation of our Full-Service Scorecard and Gomez research of clients in an advisory relationship who use the online channel, it became apparent to us that alerts are simply not effective.
ELECTRONIC TRADING
Reuters signs a definitive agreement to acquire U.K.-based AVT Technologies; SunGard Trading Systems launches MatchMaker; NeoNet signs a pact with Eze Castle Software.
MARKET DATA
Societe General purchases a system from Asset Control for the management of instrument reference and market data supporting its capital markets operations; Lipper acquires the operations of Capital Access International; S&P's CUSIP Service Bureau provides users with a link for up-to-date valid CUSIP numbers for mutual funds and money funds.
RISK-MANAGEMENT TECHNOLOGY
Algorithmics and Bloomberg launch Algo Data Loaders for Bloomberg Data for Algo Suite customers; AXA Investment Managers license Sophis' Value Front and Middle office fund and risk management solution in its Structured Asset Management division; Synergy Asset Management licenses COR Risk Solutions' BITA Research and BITA Risk Modeler.
INVESTMENT-MANAGEMENT TECHNOLOGY
netDecide Corporation and Forefield Inc. expanded their partnership to integrate Forefield's FMA Advisor into netDecide's Wealth Management System; Sophis signs a license agreement with AXA Investment Managers; ByAllAccounts announces the addition of five firms to its client roster.
OPERATIONS
CheckFree signs an agreement to build an interface from its CheckFree RECON Securities system to Omgeo TradeHub; Harris Bank selects Mercator to enhance SAP/ERP system; Swift selects COLT, Equant and Infonet for the provision of managed IP-VPN services.
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