Content posted in April 2004
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E-Trade Eases Funds Transfer
Online brokerage uses instant account verification software from Yodlee to make process simpler and in real time
Risk Newsflashes
Financial Insights forecasts 25 percent growth in spending on risk-data related products and regulatory initiatives; Algorthmics integrates Data Synapse's grid-computing software into Linux version of Algo Suite 4.4; SAS unveils credit-risk management solution.
Electronic Trading Newsflashes
Instinet Group reports $19 million in first quarter profits; Banc of America Securities signs R&D pact with Microsoft for trade-execution products; MB Trading to provide direct-access trading to GL Trade customers.
TradeBook’s Foley Joins eSpeed.
Kevin Foley, CEO of Bloomberg TradeBook, was named president of eSpeed.
Finding Value in an Ever-Efficient World
I recently attended a conference at which a presenter discussed a new view of operational management.
Newsmakers
Angstadt Promoted at Archipelago; JPMorgan Investor Services Appoints New CTO; DTCC Stresses Security with Carey; People on the Move
Product Watch
Ethics 101 for Advisers; A Black Box for Funds; On-the-Go Speakerphone
An Interview with Merrill Lynch’s John Killeen
Merrill Lynch's John Killeen has been under close scrutiny in the wealth-management industry ever since the sudden exit of his predecessor, Byron Vielehr.
https://www.informationweek.com/
The need to jam more computing power into less space has firms scrambling to manage their data centers.
More than Managing Names and Numbers
Successful CRM requires more than information. It requires tools to use that information effectively and add value to the customer relationship.
Credit Where Credit Is Due
After years of standing in the shadow of the sell side, Wall Street's buy-side firms are reaping rewards by realizing risk.
SEC Sets Back SOX
Sarbanes-Oxley deadlines are delayed, but firms find little solace in the regulation's extension.
Does Bloomberg Have What It Takes?
Portfolio managers say Bloomberg should be a bigger force in electronic bond trading. But can it compete against the dealer-owned systems?
Hedging the Risk of Instant Messaging
While hedge funds enjoy the simplicity of trading via IM networks, compliance and reliability concerns have them seeking IM products with built-in archival systems.
Integrating Disparate Databases
Prebon Yamane manages data globally with a little help from BEA and Sonic Software.
Integrating All That Data
To reduce the costs of processing trades - and eliminate errors - Swiss American is attacking data integration.
Integration: The Wheel That Makes STP Spin
Before firms can hope to achieve straight-through processing or one-day settlement of trades, they have to get their systems and data to speak to each other.
Offshore Outsourcing: Is Your Data Safe?
Financial-services firms are taking extra security measures at their offshore outsourcing facilities. Are security-related fears valid, or are they hype?
BCP Spending to Plateau
Although spending on business-continuity planning (BCP) in the securities industry rose considerably from 2001 to 2003, reaching $2.5 billion, a 57 percent increase, spending is expected to rise only marginally in 2005 and then decline in 2006, according to a recent TowerGroup report.
Performance Attribution: Future Trends
Performance attribution vendors are expected to make a slew of upgrades this year.
Reg NMS Hearing: Buy Side is Divided over Opt-Out
Buy-side institutions disagreed over the SEC's plans to revamp the trade-through rule. Vanguard rejects the opt-out clause, while Fidelity favors it.
Investment Technology Newsflashes
The Spaulding Group forms certification program for performance measurement; Great Companies goes live on Indata; Linedata launches Linedata Compliance.
Market data Newsflash
Moneyline Telerate Renames and Rebran
Operations Newsflashes
First French bank goes live on CLS; State Street Wins New Clients in Taiwan
Risk News flashes
Creditex will integrate Market-it Partners' data into its credit derivatives platform; Volteq Capital chooses Sophis Value for arbitrage hedge fund; Equalt selects SunGard's Reech derivatives pricing and analytics library.
Electronic-Trading Newsflashes
Five sell-side deploy BRASS's new IOI system; MarketAxess reports 160 percent increase in first quarter trading volume; Reuters to distribute MarketAxess Bond Ticker pricing service; BofA Securities launches Electronic Trading Alliance with LineData; Thomson to work with Belzberg to connect AutEx Network to Canadian brokers and equity markets.
Expansive Training Essential To AML Program Success
Just because you have the right technology in place to combat money laundering doesn't mean your AML program will be successful.
Security: Focus on Fundamentals
Jon Gossels, president of SystemEXPERTS, a security consulting firm, says his clients are getting back to basics.
Conflicting Priorities
Though it is well known that technology projects should be driven by business priorities, a new study by Framingham, Mass.-based Financial Insights finds that the buy side is having a tough time with this concept.
Fears Unfounded?
With outsourcing on the rise in the financial-services industry, there has been widespread discussion about the security of sensitive data.
CSFB and Morgan Stanley Plug Algorithms into Charles River OMS
Two broker dealers are embedding their algorithmic-trading strategies into the Charles River order management system to make the buy-side trading-process more efficient.
A New Market Structure for Bonds?
A Partnership between ICAP/BrokerTec and MarketAxess could mean major changes in the way bonds are traded.
Market Data Newsflashes
Tick Data releases NYSE and TAQ database; Thomson Financial to acquire Starquote; TradeWeb acquired by Thomson Financial.
Investment-Management Technology Briefs
Advent releases new version of Moxy, and announces integration with SEI Investments; UBS Selects CheckFree Financial Messaging; Abbey goes live with BBH's Infomediary.
Risk Newsflashes
Belgian bank picks Accurate Software for operational risk; Mantas hires Sisolak to head anti-money laundering solutions.
Electronic Trading Newsflashes
Schwab to Launch Passive Indication Network for institutions; SIA issues guidelines for unexpected market closes; The Pipeline ATS is now available via TNS' FIX-based Secure Trading Extranet; Eze Castle deploys Portfolio Manager Console at client sites.
Data Management: Turning Challenges into Solutions
Data management is a complex challenge. When searching for a data management solution, what are you looking for? Among financial services firms, there is no universal problem-solution scenario.
Know Your Customer " Through Better Data Management
The converging influences of aging legacy systems, globalization, competition, internal cost pressures, the need to reduce settlement times, and a minefield of new regulatory requirements such as Basel II and Sarbanes-Oxley, are acting as key catalysts for a re-engineering of the back offices of investment and securities firms.
21 Years at the Front Line of Data Management.
2004 will be FAME's 21st year in the data management business, and our first as an operating unit of SunGard (NYSE: SDS).
Leveraging Data Quality to Manage Risk and Improve Business Performance
Leadership teams at organizations across industries are looking for a way to gain control over the accuracy and reliability of their data.
Improving Operational Efficiencies Through a Centralized Data-Management Approach
While it's no secret that the key to operational efficiency is streamlined data management, investment management companies continue to struggle with maintaining consistent and accurate data.
A Cautionary Tale for Data Users
Market data is coming under scrutiny in the battle against operational risk and compliance.
Investment-Management Technology Newsflashes
Diversified Investment Advisors selects statement solution; Interface offers new CRM modules FNX launches hedge-fund tool.
Market Data Newsflashes
Xcitek partners with Financial Information Network; Moneyline Telerate and Kalahari release Zero Coupon Yield Curve data service.
Making FIX Clear
The Options Clearing Corporation looks to enhance efficiency with the FIX messaging protocol.
Risk-Management Technology Newsflashes
Morgan Stanley to acquire Barra for $814 million; BearingPoint reports lack of data standards in risk management and compliance hampers growth; SunGard's Front Capital Systems acquires Derivatech.
Electronic Trading Newsflashes
Thomson to acquire TradeWeb for $515 million in cash and contingent payments; Linedata creates LongView ASP for smaller firms; SunGard/BRASS taps James Leman as president; ITG acquires direct-access player Radical Corp; NYFIX acquires network and opens data centers as part of European expansion.
The Need for Speed
Excerpts from The Tabb Group report: Pushing the Envelope: Redefining Real-time Transaction Processing in Financial Markets
Madoff Shifts from Proprietary FIX engine to Cameron Systems
Market-maker Bernard L. Madoff Investment Securities is replacing its home-grown FIX engine with an off-the-shelf system from Cameron Systems, signaling a coming wave of sell-side replacements.
ELECTRONIC TRADING NEWSFLASHES
GFI Group Picks Mighter Gissing multi-vendor platform for price distribution; Hauck & Aufhauser Banquiers selects Rolfe & Nolan's ASP-delivered processing solution; Firefly Capital signs up with Radianz for connectivity; LongView Trading to embed Autex in OMS.
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