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A Look Ahead to the Capital Markets in 2013 The Eurozone crisis is far from over, the fiscal cliff is top of the headlines and industry revenues continue to decline. Adding to their collective headache, financial organizations are dealing with flat IT budgets while striving to innovate in today’s ultra-competitive market. But there are a host of bright spots in the financial technology world. Here is a look at Wall Street & Technology’s take on the key issues that will shape the industry in 2013.
Wall Street & Technology’s Top 5 Galleries of 2012 It’s been quite a year for the financial services industry, which was hit by multi-million dollar hack attacks as well as spectacularly disastrous technology failures. We took a look at the most costly industry mishaps in our top galleries of 2012, while also shining the spotlight on some of the biggest mistakes CIOs make. But there is light at the end of the tunnel for chief technology officers: our recent salary survey showed that IT skills remain in short supply on Wall Street. So for t
Getco to Buy Knight Capital in $1.4 Bln Deal Knight Capital Group Inc, which was nearly brought down by a trading error in August, said it will be acquired by rival electronic trading firm Getco Holdings Co in a cash-and-stock deal that the companies valued at $1.4 billion.
MF Global Judge Wary of Letting Customers Depose Corzine A bankruptcy judge responded on Wednesday with skepticism to a request by former MF Global customers to depose the collapsed brokerage's former chief Jon Corzine.
Massachusetts Fines Morgan Stanley over Facebook IPO Morgan Stanley, the lead underwriter for Facebook Inc's initial public offering, will pay a $5 million fine to Massachusetts for violating securities laws governing how investment research can be distributed.
Asia Brokers In Balancing Act to Bypass Stalled HFT Debate Brokers in Asia are trying to balance traditional investors and the new force of high-frequency traders to keep profits growing amid a pullback in overall trading volumes, seeking to move past a stalled debate on trading models.
U.S. Banks Add to Call For Easing Liquidity Rule U.S. banks want regulators to ease a rule forcing them to hold large amounts of assets that can be tapped at short notice in a crisis, saying the buffers built up already should be enough.
The Case for Scenario Planning in Sandy’s Wake After underestimating the strength of Hurricane Sandy, financial firms need to consider 'risk scenario planning' as a tool for forecasting what can go wrong in the future, writes author and risk analyst Andrew Waxman.
The Biggest Risk on Wall Street – Still Rogue Traders, Not Rogue Computers The controls against rogue trading in an investment bank comprise a combination of cultural change and intelligent system re-engineering.
The Road to Big Data As big data becomes inescapable in today's financial services industry, institutions can prepare by surveying the analytics landscape, targeting a specific problem to solve, studying relevant cases and expanding capabilities with the right technology solution for their environment.
US, UK Bank Seizure Plans Focus on Absorbing Losses - Regulators Both the United States and United Kingdom have developed viable approaches to seizing and unwinding failing global financial institutions, but more work is needed on the UK side to ensure that losses can be adequately absorbed, American and UK regulators said on Sunday.
IMF Chief Says U.S. Needs Blend of Spending Cuts, Revenue Raising The United States needs a balanced, comprehensive approach to tackle its fiscal woes that should include a mix of spending cuts and revenue increases, the head of the International Monetary Fund said on Sunday.
SEC Charges 8 Mutual Fund Directors Over Asset Valuation U.S. securities regulators charged eight former mutual fund board directors on Monday with fraudulently overstating the value of their securities at the brink of the housing crisis.
RBS: The Biggest Turnaround In Corporate History Royal Bank of Scotland chief executive Stephen Hester has shrunk the bank by $1.1 trillion in four years, and can count on at least three years' work to finish the turnaround.
After MF Global, Insurance Weighed to Protect Futures Customers Long-derided as unsuitable for sophisticated futures markets, insurance is getting a surge of attention heading into the new year as the industry works to patch itself up after the stunning collapse of brokerage MF Global in 2011.