Content posted in May 2008
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A New Era of Change at the NYSE
Larry Leibowitz, executive vice president, head of U.S. markets and global technology at NYSE Euronext Group, was a refreshing keynote at this year's TowerGroup Financial Services Business & Technology Conference in Boston.
BNY Mellon CIO Kurt Woetzel Receives Award
Pace University is recognizing Woetzel for his work in technology education
Northern Trust Upgrades Passport
New system integration tool designed to help asset service clients
Drop in Housing Starts Indicates Unemployment Is Headed to 9%
Where is the economy headed? Some "experts" say the economy is ready to rebound, after a short contraction. Others think that the economy is just at the beginning of a long and painful recession. However, the truth may be hidden in data that tracks housing starts, according to University of San Francisco business professor Jon Fisher, who previously founded and sold his online authentication company Bharosa to Oracle. Fisher
Security Breach Affects BNY Mellon, People’s United Bank
4.5 million customers potentially exposed by missing backup tape
Risk Management IT Spending Will Rise With Increased Commodities Markets Volatility
The growth of global commodities trading volumes will require new compliance systems that address the entire trading chain.
The Need for Holistic Fraud Management
Recent incidents prove that firms must take a holistic approach to risk management in order to effectively detect and prevent fraud.
Latency Risk Exposure On the Rise
In 2008, 16 percent of all U.S. institutional equity commissions are exposed to latency risk, totaling $2 billion, according to a new report from the TABB Group.
Great American Advisors to Launch New Fee-Based Advisory Platform
Cincinnati-based investment firm to deploy FundQuest platform, services
Deutsche, Merrill Reveal Recession-Proofing IT Strategies
Deutsche Bank, Merrill Lynch and other Wall Street firms are using smart IT strategies to weather both bust and boom cycles.
Financial Firms Still Coming to Grips With E-Discovery
Despite the penalties for inadequate e-discovery capabilities, many firms still are challenged to establish effective programs.
Mark Palmer of StreamBase Responds to CEP Article
Palmer argues that CEP is a mature technology given that CEP's use on Wall Street is expanding and now includes public customers such as the FSA and Turquoise.
RBC Capital Markets Modernizes its Middle Office
London-based investment bank RBC Capital upgrades to GL Clearvision
Bell Direct Offers Text Message Trading
Australian brokerage uses Sybase 365's mobile trading gateway
Mitsubishi UFJ Securities Rates Group Getting A Tech Makeover
The rates trading group at Mitsubishi UFJ Securities, part of Mitsubishi UFJ Financial Group (the largest financial institution in the world in total assets), is putting new technology behind its approach to relative value pricing and dissemination of market data. The group, which was formed in March 2006 and now employs 50 people, is installing a real-time tick database and low-latency price distribution technology.
Merrill Lynch Plans to Virtualize Half Its Desktops
Merrill Lynch is placing a big bet on emerging virtualization technology that's driven by IT management cost savings.
Keeping Tabs
Cox Joins Barclays; Northern Trust Promotes Daswani; The Depository Trust & Clearing Corp. Names Four Members to Board of Directors.
StreamBase Hires Apama’s Mark Palmer as President and COO
Back-office applications are becoming more closely tied to front-office applications, says CEP expert.
Citisoft Hires Christopher Connors as Business Development Head
The investment management consultant's clients are looking to optimize their operational and IT spend as well as 'improve process efficiency without the funding that has been available in prior years,' Connors says.
Magee Joins Information Mosaic as COO
Kevin Magee, who will lead the company's expansion, says Information Mosaic needs to continue creating products that will satisfy the needs of a market heavily dependent on customization in order to run its business.
Goldman Sachs Enhances REDIPlus EMS
Version 8.0 of GSET's REDIPlus proprietary execution management system includes a revamped front end, additional foreign languages, and expanded algorithmic offerings.
Capgemini Partners With Teradata to Create Compliance and Operations Platform
The new platform will enable holistic regulatory reporting and monitoring of trade status issues.
Riskdata Offers New Version of FOFix
For version 3.1 of the risk management service for hedge funds, Riskdata partnered with hedge fund database vendors.
In a Tumultuous Economy, Wall Street Must -- and Will -- Find a New Model
As fixed-income markets falter and write-downs proliferate, investment banks need to discover new opportunities and new ways to manage risk.
Case Study: Morgan Stanley Taps BladeLogic to Simplify Complex Application Deployment
Operations Manager solution allows Morgan Stanley's Global Wealth Management Group to increase change management capacity and improve execution quality in high change-velocity environment.
How to Recession-Proof Wall Street IT
Former Wachovia IT guru Tony Bishop offers a three-step process to recession-proofing Wall Street IT organizations.
Optimizing the Web for Sales
Fund companies should view the Web as a 24/7 wholesaler that can extend a broader reach to investment advisers than the distribution team of any single asset manager, says kasina.
Trading Positions to Plunge Due to Subprime Crisis
In North America and Western Europe, markets are expected to have 20,000 fewer trading positions in the next three years.
XBRL: Accounting on Steroids (video)
Now that SBRL has been mandated by the SEC, find out just what XBRL actually is in this short video.
Client Relationships Are Key for Wealth Managers
Aite Group study finds that subject matter expertise and listening skills are most important to clients in building a strong financial planning relationship.
Business Analysts Are In Demand
Business analysts with derivatives experience and knowledge of exotic products can expect a higher boost in salaries.
Interdealer Brokers Should Be Feeling Good About Themselves
The top interdealer brokers (IDBs) will see revenue growth as volume in over-the-counter (OTC) markets continues to increase. In addition, barriers to entry will keep the IDBs fairly safe from the threat of new competition.
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Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.
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