Content posted in May 2001
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Highlights from Wall Street & Technology/Accenture Drilling Down on STP Conference
Conference highlights from Wall Street & Technology and Accenture's first conference on straight-through processing.
BUY SIDE BRIEFS
SunGard Business Integration announces the opening of its new Hong Kong sales office; S1 Corporation announces that Comerica Incorporated will implement S1 Trade Finance to deliver online trade finance services; A consortium of leading financial institutions announce the creation of EquiLend LLC, a global platform to meet industry calls for efficient, standards-based processes in equity securities lending.
MARKET DATA BRIEFS
HyperFeed adds international market data to its proprietary data feed; Bridge and Home Cable Inc. team up to deliver Channel 34, a financial news and data channel using Bridge's BridgeCycler display solution; Morningstar launches a Continuing Education (CE) Credit Centers on its MorningstarAdvisor.com site.
RISK MANAGEMENT BRIEFS
Zurich IC2 launches a combined consulting and software service to assess, monitor and manage operational risk at financial institutions; eDerivative.com to expand its online trading platform for interest rate derivatives with Radianz's network solution; CertCo adds an online supplier performance ratings to its CertCo RMX product.
ELECTRONIC TRADING BRIEFS
State Street launches a Japanese-language version of Global Link; Rolfe & Nolan signs a licensing agreement with Object Trading Pty Ltd.; Egar Technology launches ETS, a real-time equity options trading and risk management system.
Eyeing Retail Clients, Wall Street Access Goes Live with Online Trading Platform
Recognizing that it needed to provide its individual investor clients with an online option for trading stocks and options, Wall Street Access has launched AccessPoint.
BISYS Washes Its Hands of Wash Sales
BISYS relieves itself of keeping track of wash sales by outsourcing to ASP GainsKeeper,Istitutional Services, which will now handle all capital gains calculations for the 33 funds BISYS administers.
Merrill Lynch HSBC Taps Bridge For New Web Site
Bridge provides its Internet Toolkit for market information and applications.
ELECTRONIC TRADING BRIEFS
The Chicago Mercantile Exchange and the Chicago Board Options Exchange sign a letter of intent to create a joint venture that will trade single-stock futures contracts; Bank of America, CS First Boston, Deutsche Bank, Goldman Sachs and J.P. Morgan Chase take equity stakes in LoanX; The European Energy Exchange grants Essent Energy Trading B.Vthe right to trade in its spot market for electricity.
BUY SIDE AND OPERATIONS BRIEFS
Capital Access International announced the launch of eMAXX-CPSSM; Andre Lussi steps aside temporarily from his responsibilities as President and CEO of Clearstream; CheckFree Investment Services announces the unveiling of Kings of Wrap.
RISK MANAGEMENT BRIEFS
In its second round of institutional financing, ERisk raises $10 million in funds; Egar technology releases its Equity Trading System (ETS) for real-time equity options trading and risk management.
MARKET DATA BRIEFS
HyperFeed expands its data feed offerings with access to content from FT Interactive Data; Object Design develops a software application to simultaneously capture, organize and query real-time data streams; TheBEAST.com joins the Tibco Alliance Program.
Europe Has The Right Network To Make Trading Wirelessly A Breeze
It's just missing one big part of the equation: Wall Street
Online Bond Consortiums
Rival broker-dealers, fueled by the emergence of many Internet-based fixed-income trading platforms are working together on a regular basis. But some market participants are alarmed by the fact that many dealers own equity stakes in two or more of the same online consortiums. Will coopetition lead to conflicts of interest?
Institutional Portal Market: Liquidity is King
The sudden departure of CFOWeb from the institutional portal landscape has caused both single-dealer and multi-dealer driven sites alike to reconsider what components they need to achieve success.
As Competition Heats Up, Online Advice Becomes Mandatory in 401(k) Offerings
When Boston-based Fidelity investments rolls out its next generation of financial tools at the end of June, it will up the ante in the online advice game for 401(k) providers.
Online Brokers Get Physical: Will Clicks and Mortar Win Over the Skittish Investors?
As the downturn in the economy takes its toll on active investors, online brokers are tweaking their e-business models to prepare for the next wave who want advice, tools as well as physical locations. Meanwhile, the clicks and mortar space is getting crowded as everyone pursues the active trader and the affluent.
The Party’s (Somewhat) Over: Adventures in Trimming the IT Tree
Tough times mean tough budget decisions for tough executives trying to keep their firm ahead of the pack. Find out just where some of Wall Street's top decision makers are letting the IT axe fall.
Ed Horowitz Named to Crosslinks Board
Horowitz moves on from Citigroup.
ePIT V.P. Enters Post-Trade, Pre-Settlement Arena
Gordon Henderson named chief executive officer of the TLX Trading Network.
Morgan Stanley Links Up With Advent
Morgan Stanley enters a strategic partnership with Advent Software giving them access to Advent's TrustedNetwork account-aggregation services.
ADP Looks to Attract Asset Managers' Back-Office Business
ADP targets asset managers.
Wall Street's New Back-Office Crisis
Siloed firms and incompatibility are creating the new back-office crisis.
IT Challenge
Siloed firms and incompatibility are creating the new back-office crisis.
Wireless Strategies Have Gained Acceptance, But Plans Are All Over the Map
Consistency is not the name of the game when it comes to wireless strategies and structure.
Omgeo Shakes Things Up At the President and CEO Position
Omgeo Shake Up--Edelstein is out and Bryan is in. What happened?
LongView's Long Road
Here we go again. Longview's been purchased by Linedata--what every client needs to know.
NetDecide Incorporates Forefield Data with its Wealth Management Software
Forefield teams up with netDecide.
Raymond James Signs With Xcitek For Corporate Actions Processing
Raymond James signs with Xcitek.
GARP Survey Reveals Risk Salaries
GARP unveils first annual risk salary survey.
Cygnifi Taps Saecos for Top-Notch Security
Cygnifi teams up with Saecos for top-notch security.
Bloomberg Tradebook and Belzberg technologies Develop Trading Systems Interface
Bloomberg Tradebook has agreed to electronically link its ECN with Belzberg Technologies' Order-Routing System.
Liffe and Easdaq Sign Pacts with Nasdaq, as Stock Market Continues to Distance Itself from NASD
Busy Nasdaq Forms Joint Venture with Liffe, Buys Majority Stake in Easdaq.
Global Crossing Signs Network Connectivity Pacts with CHX and Blackwood Securities
The Chicago Stock Exchange and Blackwood Securities have signed separate pacts to use Global Crossing's extranet
Trends from TowerGroup
Some statistical highlights and trends from TowerGroup's annual conference,
"Exploring the Future: From e to Reality."
IB Catching On in Electronic Interface Market
Interactive Brokers grab headlines in the electronic linkage space.
Taking a Closer Look at How Financial Services Firms use Economic Capital Numbers
Stephen Bates, director of the risk management group at the Bank of Montreal advocated looking at how firms use economic capital calculations rather than simply coming up with the numbers.
Bear, Goldman and Morgan Stanley Rank as Top Prime Brokers
Survey ranks Morgan Stanley, Bear Stearns and Goldman Sachs as the largest prime brokers in terms of assets and number of funds served.
CSFB, Lehman and UBS Grab Stakes in BondBook
BondBook, an anonymous, online fixed-income marketplace, has welcomed a trio of broker-dealers into its stable of owners/liquidity providers.
IBM Launches STP WorkBench
As the race to help firms prepare for T+1 heats up, IBM has entered the fray with its STP WorkBench solution designed to provide the tools and expertise needed to revamp antiquated infrastructures.
Algorithmics Takes Risk Management to New Heights at Annual Risk Conference
Key customer and product announcements highlighted at event.
ELECTRONIC TRADING BRIEFS
OM AB's global employees, excluding Jiway, to participate in a stock option scheme for the entire month of May; State Street Corporation reveals that Canada's five largest banking groups have contracted with FX Connect (SM); Altra Energy Technologies, Inc. named the number one independent energy trading exchange by AMR Research.
BUY SIDE BRIEFS
SunGard announces the availability of STN Treasury; The Bank of New York announces its appointment to provide fund accounting, custody, and cash management services to Reich and Tang Funds; NIB Capital Asset Management licenses the PAM investment management and accounting software from Princeton Financial Systems.
MARKET DATA BRIEFS
Caplin Systems releases its new Real Time Trading Protocol (RTTP) Global Server (RGS); HyperFeed signs a development agreement with Quantitative Science Technologies to provide a Web-based, portfolio management tool to its PCQuote customers.
RISK MANAGEMENT BRIEFS
CertCo adds online payment capabilities from Electronic Payment Exchange to its CertCo RMX product; Financial Engineering Associates releases a server edition to its VaRworks enterprise-wide market risk management solution; ABN Amro's equity derivatives group licenses SciComp's SciFinance and SciXL products to prototype and view derivative pricing models.
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