Content posted in May 2003
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SEC Blocks NYSE Liquidity Quote Launch
The Securities and Exchange Commission has temporarily prevented the New York Stock Exchange from launching Liquidity Quote in response to complaints from Bloomberg L.P. regarding vendor restrictions.
Governance Falls into CIO’s Lap
Although compliance with Sarbanes-Oxley means CEOs are in the hot seat, CIOs will do much of the heavy data lifting.
Fortune Telling for the Buy-Side
TowerGroup looks into the crystal ball to predict the future of OMS solutions.
Electronic Trading Briefs
Eurex signed a letter for intent with the Board of Trade Clearing Corporation to act as a clearing house for Eurex's new U.S. exchange; ICAP plc, the fixed-income interdealer broker, reports that profits rose 39 percent to $123.7 million for the year-ending March 31, 2003; The Boston Stock Exchange selects RadianzNet as one of the options to give institutions secure network access to the new market.
Market Data Briefs
Princeton Softech has announced a solution that enables institutions to access, manage and selectively restore archived data; Edgar Online, a Connecticut-based distributor of SEC filings, has released a new version of EdgarPro; HyperFeed Technologies recently selected Savvis Communications to deliver North American and international-exchange access via Savvis' Intelligent IP Network.
Risk Management Briefs
The Boston Stock Exchange selected Radianznet as one of the options to give institutions secure network access to the new market; Sinochem picked TradeCapture's ICTS Symphony to track and manage its international crude oil and refined products trading business; Bayerische Hypo-und Vereinsbank (HVB) based in Munich, has gone live with SunGard Trading and Risk Systems' Monis Convertibles Analyzer.
Investment Technology Briefs
- Trade Manage LLC, a N.J.-based order-management-solution provider, has selected SunGard FIX engine; Spear, Leeds & Kellogg has combined its electronic-execution services with Eze Castle, Software's order-management system; PFPC has named Albert Marazza as a vice president for sales of the firm's fund start-up services.
Operations Briefs
In the white paper, FICC offers a new settlement model that looks to maximize netting for dealers; CheckFree Financial and Compliance Solutions announced that Loomis Sayles & Company, L.P. is utilizing CheckFree RECON Securities; Eurex and the Board of Trade Clearing Corporation announced that they intend to enter into a long-term clearing partnership to create a global-clearing solution.
As CRM Spending Drops, Merrill and Mellon Persevere
Securities firms are reducing their CRM spending but Merrill Lynch and Mellon Financial are rolling out wealth-management platforms with CRM.
One Plus One Equals One
Bank of New York and Pershing join forces to conquer correspondent-clearing and outsourcing marketplaces
Accepting the Risk
Banks need to better understand their risks to satisfy new rules.
Merrill Lynch Hands Off Network Security To VeriSign
The deal will let the brokerage firm focus on risk management rather than the grunt work of security
Electronic Trading Briefs
Bloomberg is jumping into the FX dealing market by forming a broad alliance with EBS; Chicago Trading Company (CTC) is using Capital Markets Consulting's (CMC) gateway technology for eletronic market making; The Nasdaq Stock Market's Vice Chairman Daid Weild, IV has left the market to pursue other interests.
Market Data Briefs
Schroders plc, a London-based global-asset manager with $142 billion in assets under management, recently deployed Eagle Reference Manager; Nasdaq and CCBN have partnered to provide investor-relations services to Nasdaq's listed companies; SunGard Market Data Services recently released a new version of PowerData Excel Add-in.
Risk Management Briefs
Standard Bank has gone live with Algo Collateral within its
South African operations; Cheyne Capital Management signed a three-year deal with Make-it Partners for the daily supply of credit-derivatives swap-data; Dr. Michael Ong has joined the Professional Risk Managers' International Association (PRMIA) Academic Advisory Council.
Investment Technology Briefs
Value Line Asset Management recently went live on SunGard Investment Management Systems' IMpower; Man Capital Foreign Exchange has implemented OrderTrac Global Order Management System from PFS TraderTools; Macgregor announced that the Macgregor FIX Network has certified 162 new broker FIX connections in April.
Operations Briefs
SIS SegaInterSettle offers a new corporate-actions service to the securities industry; The latest version of the FIX Protocol could lead to industry savings in excess of $100 million annually on confirmation processing; Tullett Liberty announced the launch of Post:marker, a straight-through-processing application to enhance post-trade notifications.
MFS a Match for Morningstar
Investment manager outfits advisers with Web-based planning system.
Though Burned by GSTPA, SIA is Still a Fan of Matching
At the SIA Ops conference in Florida, Don Kittell discussed the history and future of central matching.
Lava Trading Sees the Upside in Separate Accounts
Lava Trading led a financing round for Upstream Technologies, a supplier of asset management technology to buy side firms that run separate accounts. Lava plans to link its direct access trading tools to Upstream's order-generation platform.
Electronic Trading Briefs
In a high-level shake-up of its executive team, The Nasdaq Stock Market named Glen Wolyner to serve as executive vice president of Nasdaq Transaction Services; Semotus Solutions began providing data on New York Mercantile Exchange markets via the wireless hand-held Futures Market ; The London Stock Exchange (LSE) has entered an agreement with Swedish trading technology vendor NeoNet.
Market Data Briefs
The Chicago Board Options Exchange selects HyperFeed for its Managed Exchange Platform Services; RIXML.org extends an associated membership to Reuters; MarketXS adds Dow Jones Newswires content to distribute on its Pro Windows terminals in the Benelux region.
Risk Management Briefs
Banca Akros SpA selects Summit's Transact ASP platform for foreign exchange (FX) cash and FX option trading; A survey of over 2,000 members of PRMIA in the Americas shows that only 16 percent of respondents felt that their risk-management department was being used effectively; Dr. David Gilbert joins eRisk as president and chief executive officer.
Investment Technology Briefs
PowellJohnson Private Asset Management agrees to select Advisorport to provide the firm with advisory tools; Reuters and Barra announce a partnership to assist investment managers in managing risk in their portfolios using the same module that they would watch the market from; Singer & Friedlander Investment Management's London, Leeds and Birmingham offices subscribes to Knowledge Technology Solution's QuoteTerminal.
Operations Briefs
At the general meeting of SIS Swiss Financial Services Group AG in Zurich, Christoph Ammann, chairman of the board of directors, said business was heavily influenced by the exceptional situation on the capital markets and the bankruptcy of GSTP AG; Northern Trust announces its ability to offer Effron's Separate Account Express to its institutional clients via Northern Trust Global Investor Passport; Jill M. Considine, chairman and CEO of The Depository Trust & Clearing Corporation, to give the k
Dirks Leaves DTCC; PRMIA Names New Director; BNY Brokerage Hires Viani; People on the Move
Dirks retires from DTCC, PRIMA names new director, BNY Brokerage hires head of OTC trading desk
Capco Launches STP Solution; Eagle Offers Reference-Data-Management Tool; Nasdaq Fine Tunes Closing
Dirks retires from DTCC, PRIMA names new director, BNY Brokerage hires head of OTC trading desk
7 Steps to Rescue Runaway Projects
Closing the Money Pit: Have you ever felt like a project was out of control but didn't know how to apply the brakes? Read how to stop throwing good money after bad.
A Conversation with American Century’s Bob Sauvageau
Leading a large buy-side firm through today's economy takes business and tech savvy. American Century's CTO says doing more with less is now just part of the job.
IT Challenge
The Challenge: Slumping trade volumes, cost-containment initiatives and threats of more layoffs have combined to lower morale across the brokerage business. IT departments aren't immune to this toxic mix, which can have employees worrying as much about their future as the task at hand. It makes motivating staff and shoring up morale a real challenge.
Megamergers Shake Up Correspondent-Clearing Space
In a depressed economy, some correspondent-clearing firms are practicing the art of acquisition to grow their businesses.
A Model for Success
Portfolio modeling may help keep investment firms safe, sound and profitable in uncertain times, but some say even the most advanced technology can't replace the human touch.
Market-Data Dilemmas
Industry experts recently convened to discuss the tricky business of managing data at financial institutions.
Uncertainty Slows Preparation for Basel II
A lack of clear direction by regulators is causing some to adopt a wait-and-see approach to preparing for Basel II.
Messaging Hubs Target FX Prime Brokers
Foreign-exchange prime brokers are creating a messaging hub to receive trade reports from executing banks. But is FXall, the online portal, creating a competing solution?
Lehman CIO Keeps Ear to the Ground
If you think chief information officers stay holed up in their offices pouring over reports; learning about a typical day in the life of Lehman's CIO may change your mind.
Mapping Out BCP Guidelines
How far is far enough? The answer is still unclear as new guidelines on business-continuity planning avoid specifics regarding distance between primary sites and backup sites.
/channels/security
Retail financial-services firms are betting on a risk-based approach to wealth management. While some are now running complex Monte Carlo simulations on the desktop, the bigger challenge could be changing brokers into risk advisers.
Trends & Highlights
Business Keeps Getting Better for Offshore-Outsourcing Vendors; Patriot Act Means Major Technology Investment; E-Mail Rules; Tech Tomorrow.
IT Governance
The CIO's job is changing yet again.
Brut ECN Completes $5 million Upgrade with Sun Servers
Brut ECN completed a $5 million upgrade of its Solaris-based infrastructure, to increase speed and capacity. The upgrade leverages the deep pockets of its parent company SunGard.
The Onus of Operational Risk
With the final version of Basel II coming down the pipeline, are financial institutions ready?
Market Data Briefs
Market-data provider DTN Market Access, releases six additional news services; Three real-time business news providers are combining efforts to produce "World Business News Alliance," a global news service for the financial community; Daiwa Securities liscenses StreetReference for its European operations' reference-data management.
Electronic Trading Briefs
Gottex Brokers to become the first member of Swapstream; Harborside+ has linked its service for matching large-block-equity indications of interest (IOIs) to Nasdaq's Liquidity Tracker; Fimat Group appoints Thomas Kloet as chief operating officer of Fimat, USA, Inc.
Risk Management Briefs
Danske Bank goes live with Algo Collateral from Toronto-based Algorithmics to expand its margining activities and collateralized counterparties; Summit Systems, Inc. to release a new application called Multi Underlying Structured Trade (MUST); Europe's first pan-European central counterparty (CC) went live on Monday, May 5.
Investment Technology Briefs
Ark Asset Management goes live with Eagle Investment Systems for portfolio management and investment accounting; Ruffer Investment Management selects SunGard's ASP-based accounting and reporting service; Advent Software announces a new solution for hedge fund managers.
Operations Briefs
The Depository Trust & Clearing Corporation's shareholders elects three new nominees and re-elected 18 others to DTCC's 21-member Board of Directors; SunGard Business Integration selects MINT SWIFT solution as a strategic integration platform; HelioGraph announces that Gert Raeves has been voted onto the ISITC Europe Executive Committee.
Instinet Sharpens Tool to Slice into NYSE Market Share
Seeking to capitalize on the NYSE's investigation of specialists, Instinet plans to roll out a tool to increase the ECN's market share in listed-stocks.
Brokers Will Spend Big on Anti-Money Laundering
A recent report indicates that brokers will make substantial investments in anti-money-laundering technology to ensure their reputations stay untarnished.
Dow Jones Tests IM For Premium Content Delivery
Instant messaging continues its march toward becoming a widely accepted information medium.
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