Content posted in November 1999
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Northern Trust Chooses BARRA for Aggregate Risk Solution
Northern Trust Corp. has signed a contract for BARRA's TotalRisk for Asset Management system.
Non-profit After-hours Trade Facility Proposed by NexTrade CEO
NexTrade CEO Mark Yegge addressed the issue of after-hours market fragmentation and proposed a new solution in the struggle toward opening the order books of ECNs.
SSB Preps for Decimals, Completes Trading Relocation
SSB has just completed the relocation of its Citicorp traders and is eyeing a migration to a single digital data distribution platform.
SS&C Shoots for STP With XE Platform
SS&C Technologies has released a new platform that enables real-time linking between its Antares and CAMRA 2000 front- and back-office portfolio management systems.
Jefferies Takes 25% Stake in LIMITrader
Moving into the electronic bond trading world, Jefferies & Company has purchased a 25% stake in LIMITrader Securities.
ECN Execs Talk Shop at Roundtable
Panelists on last week's ECN roundtable offered their opinions on the future of ECNs, NYSE Rule 390 and the ITS system.
Waite & Assoc. Upgrades to I.M.S. for Windows
Los Angeles-based Waite & Associates has decided to upgrade to INDATA's front- to back-office suite of portfolio management systems, I.M.S. for Windows.
SunGard Portfolio Solutions' Problems Continue; Two Clients Leave For GIS
SunGard Portfolio Solutions continues to lose clients at an alarming rate despite efforts to change its image over the past year.
NYMEX Board Approves IT Revamp, Creates Fully Electronic Energy Market
The NYMEX has approved a strategy to overhaul its information technology division and is drawing closer to implementing a plan to demutualize.
Buy Side Clamors for Centralized Information, More Price Discovery
Buy-side traders called for an electronic bond trading system with centralized information and greater price discovery at last week's Bond Market Association technology conference.
Buy Side Clamors for Centralized Information in Fixed-Income Trading
Buy-side traders called for an electronic bond trading system with centralized information and greater price discovery at a recent Bond Market Association conference.
J & W Seligman Chooses TradeWeb for Treasuries
J & W Seligman and Co. is moving into electronic bond trading with the TradeWeb multi-dealer system.
Optimark Hires New CTO, Looks to Increase in Volume
Optimark has hired Robert Warshaw as chief technology officer.
CBOE Puts Demutualization on Backburner
While it continues to work diligently to build an electronic trading system, the Chicago Board Options Exchange (CBOE) is taking a wait-and-see approach toward demutualization.
J.P. Morgan's CIO Leaves IT Helm
In step with the technology investment boom, Peter Miller, J.P. Morgan's chief information officer, has left the prestigious IT job to take on a new role that catapults him into the revenue-producing side of the business.
Pilgrim Baxter Taps Cutler for Web Site Maintenance and Upgrades
Pilgrim Baxter & Associates is outsourcing the maintenance and management of its Web site (PBHGFunds.com) to Cutler Systems Management.
Track Data Eyes Entrance into ECN Market
Track Securities Corp. has filed an application with the SEC and the NASD to form an individual investor oriented ECN.
NYFIX ATS Consortium Welcomes SG Cowen Securities
SG Cowen Securities Corp. last week joined a group of minority investors that have purchased stakes in the NYFIX Millennium ATS consortium.
Brut to Self-Clear With SunGard's Phase3
The Brass Utility (Brut) ECN has selected to self-clear trades using the Phase3 System provided by SunGard Brokerage Systems.
Neuberger Berman Builds Real-time Web Front End for Managers, Clients to Come
Neuberger Berman is creating a browser-based portfolio management system for its internal money managers that updates accounts in real-time.
Schwab and CheckFree Develop Link For Investment Manager Clients
Schwab Institutional has created an electronic trading link to CheckFree Investment Services' APL and APL WRAP portfolio management systems.
CME Board Approves For-Profit Plan; Proposal Includes Open Outcry Protections
The Chicago Mercantile Exchange last week became the first U.S. exchange to approve a plan for demutualization.
In Race to Snag the Active Trader, Schwab and Fidelity Upgrade Systems--But Still Need ECN Links
Charles Schwab & Co. continues to upgrade its new online trading product, Velocity, while going head-to-head with Fidelity Investment's newly launched Powerstreet Pro.
Strike and Brut Agree to Merge
After months of talks, Strike Technologies and the Brass Utility (Brut) have signed a letter of intent to merge.
Risk Vendors Jump on the Buy-Side Bandwagon
According to a recent report by the TowerGroup, overall spending on risk management solutions is expected to grow 16% over the next five years.
Saratoga to Release New CRM System for Mutual Fund Managers
Saratoga Systems is beta testing a new CRM package, Avenue Mutual Fund, designed specifically for the mutual fund industry.
Internet-Based Exchanges in Japan and Europe on Nasdaq's Radar
The Nasdaq Stock Market last week unveiled plans to set up a European equity exchange that will eventually be electronically linked with both its established U.S. market and Nasdaq-Japan.
Omega Research Acquires Window On WallSteet
Omega Research has acquired Window On WallStreet and plans to leverage the partnership to deliver an integrated product to online traders.
Happening Upon a Wireless World
Brokerages push to wireless trading despite the varying devices and network protocols.
ECNs Mull Linking Order Books to Bolster After-hours Liquidity
ECNs are grappling with the best ways to boost liquidity, minimize volatility and at the same time, retain their competitive edge.
U.S. Online Brokers Think Global, Act Local
The top U.S. online brokerage firms are crossing the Atlantic to invade Europe while positioning their Web-sites for the Big Bang in Japan and the expected surge in Internet usage.
Crossing Networks Oust the Middleman in Europe
Three crossing networks have sprung up on the European continent allowing buy side fund managers to trade directly with each other. Two are owned by a consortium of financial institutions, signaling a trend toward for-profit trading systems.
A Degree in Electronic Trading?
Market Wise Stock Trading School is co-developing with McGraw Hill an online home study course that will teach non-professionals the basics of direct access execution.
On-site vs. the Internet
Are Internet traders equipped with cable modems disadvantaged when it comes to trading speed, access to market data, news services and online executions?
ECN Portals Serve Up A Menu of Appetizing Choices
Borrowing a recipe from the day trading industry, Wall Street firms are eyeing a couple of software companies that have married the Internet with direct,electronic access to ECNs.
BlueStone Launches Online Trading System
BlueStone Capital has launched Trade.com, a new online trading service geared toward high-net worth individuals.
Knight-Trimark's New Clearing Deal Spells International Expansion
Knight Trimark is plotting its next move into overseas markets with a new clearing relationship and investments in electronic equity and options exchanges.
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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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