Content posted in December 2004
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Reg NMS was just re-released last week and the document surprised everyone, notes Larry Tabb, CEO of the Tabb Group and Contributing Editor to WS&T. Tabb offers his perspective on the regulation, pointing out its winners and losers. "While this may sound tame, it has the teeth of a shark," he says, "and for better or worse it will shred many current market practices."
https://www.informationweek.com/
The SEC voted yesterday to publish its reproposed version of Reg NMS for public comment. The revised regulation limits price-protection to automated quotes; prohibits sub-penny pricing; promotes uniform inter-market access via private linkages; and authorizes market centers to distribute their own data independently of the joint-industry plans.
The NYSE Revamps Floor Broker Technology
The NYSE is giving floor brokers new wireless handheld PCs to participate in a hybrid market subject to SEC approval. The project is a big win for IBM.
Investment Management Newsflashes
First National Nebraska Selects AdviceAmerica's LifeVision Wealth Planning Applications for Online Customers; ADP and Finaplex Partner to Offer Wealth Management Solution; Aspect Capital Selects Advent's Geneva; Inverness Counsel Selects Indata I.M.S. for Front-to-Back Office Solution
Operations Newsflashes
DTCC Launches Pilot to Automate Corporate Actions Liability Notices; Capco Opens New Delivery Center in Bangalore
Electronic Trading Newsflashes
ITG Moves to Acquire Remainder of POSIT Joint Venture From BARRA Subsidiary of MSCI; TowerGroup's Iati Joins Tabb Group; BNY Brokerage Links DEx to Charles River Platform; Mitsui Doubles the Size of Tokyo Trading Floor With BT Turrets; ITG Moves to Acquire Remainder of POSIT Joint Venture From BARRA Subsidiary of MSCI
Compliance Newsflashes
Archipelago Holdings Selects Movaris for SOX Compliance; FIS Wealth Management Improves Compliance With Aggregated Client Data; Greenwich Technology and Relational Security Partner to Offer Solution for Third-Party Security Audits
Spending for Managed Account Platforms on the Rise
According to a study released Monday by Needham, Mass.-based research firm TowerGroup, spending for managed account platforms will reach $439.2 Million by 2008.
Investment Management Newsflashes
Survey Says Investors Want Same Rules for Advisers and Brokers; CIS Selects DSTi for Risk Management, Trade Order Management and Performance Measurement; Brinker Capital Helps Advisers Raise Awareness of Separately Managed Accounts; Bailey Coates Asset Management Selects Cogency Alternative Investment
Electronic Trading Newsflashes
Survey Reports 74 E-Bond Trading Platforms With Move Into Derivatives; ITG Europe Eyes Purchase of E-Crossnet; Wedbush Morgan Securities' Maximus DMA Platform Supports Nasdaq Opening and Closing Crosses
Operations Newsflashes
AXA IM Outsources Pan-European Investment Operations to State Street; Adams Harkness Goes Live With SunGard's Phase3 for Equities Trade Processing; ADP interfaces BPS Platform With DTCC's Real-Time Trade Matching Application for Corporate and Municipal Bonds and UITs
Compliance Newsflashes
Capelogic Launches Fair Value Oversight System for SEC 38a-1 Compliance; Safecore Partners With EZECastle to Offer Hedge-Fund Compliance; Stifel, Nicolaus & Co. Selects Financial Tracking for Compliance Information
SEC Shocks the Industry With Revisions to Reg NMS
The industry is raising concerns over the SEC's proposed overhaul of market structure, which includes price protection for displayed orders and an inter-market sweep.
FutureTrade Turns Direct Access Platform Into a Service Bureau
With major banks and brokers owning direct-access trading platforms, FutureTrade sees an opportunity to launch a neutral service bureau for other broker-dealers to white label.
Electronic Trading Newsflashes
GL Trade Buys Ubitrade Group; E*Trade Securities Taps New Hire to Leverage DMA Trading; BondDesk Group Hires Bank of America Executive As New CEO; BB&T Capital Markets Chooses Lava OMS for Equity Trading
Fri, 05 Oct 2007 12:08:26 -0500
Investmaster Partners With Fyntel; Julius Baer Selects SimCorp Asset Management Platform; Fiji National Provident Fund Live on DSTi's HiPortfolio 3; Kayne Anderson Capital Advisors Implements Cogency Alternative Investment Platform
management/roi
DTCC Launches Global OTC Equity Derivatives Matching and Confirmation Service; Danish Bank Chooses SmartStream for Corporate Actions; Xcitek Introduces New Client Cost Basis Service
Compliance Newsflashes
Cargill Investor Services Selects Parlano MindAlign for Instant Messaging Transparency; LANsultants Uses C2C to Archive E-mail for SEC Compliance; SEC Delays SOX 404 Deadline for Some Companies; Study Says Enron E-mail Reveals E-mail Liability Remains a Significant Risk
Vendors Lay Out Their Plans for Reference-Data Services
Several leading consulting firms and financial software conglomerates claim they have the expertise to run a managed service for reference data.
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