Content posted in March 2002
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IBM To Offer SWIFT Migration Platform
An offering hits the market that helps financial institutions link up with SWIFT's new IP network.
Barra Launches Information Site for Investment Managers
Barra Vantage information source to offer users both quantitative and qualitative data for investment managers.
MidasTrade to Offer Direct Access to U.S. Stock Markets to Korean Individual Investors
Seeking penetration in the online, active-day trader community, MidasTrade.com is getting prepared to launch a direct-access trading platform in Korea.
ELECTRONIC TRADING
* ArcaEX makes its debut.
* EasyScreen signs deal that allows it to become the first independent software vendor to provide an electronic interface to the International Petroleum Exchange. * Iris Financial Systems plans to launch its Component Services Architecture.
MARKET DATA
* Standard & Poor's make a range of its market data information products available in Europe via Radianz's RadianzNet financial extranet.
* DataSynapse announces several new hires. * FTL will provide Shanghai Net Bank with financial data and reports for its daily TV show.
RISK-MANAGEMENT TECHNOLOGY
* Henderson Global Investors is implementing Xenomorph for enterprise-wide risk management of derivatives in its investment product range.
* Lipper and Barra team up to jointly develop a mutual fund risk analysis tool for investment professionals. * The Professional Risk Managers' International Association forms two new regional chapters in Mexico and the Ukraine.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Barclays Capital announces that Peter Goettler will be head of the firm's Investment Banking Division in the Americas.
* webMethods, Inc. and Javelin Technologies, Inc. announce a strategic. * The International Securities Association for Institutional Trade Communication is holding its 8th Annual Industry Forum and Vendor.
OPERATIONS
* CCMA releases a directional analysis by CGE&Y to assist Canadian-securities-industry participants in shortening the securities settlement cycle.
* EMC Corporation announces that Omgeo and Thomson Financial are achieving first-to-market objectives for advancing STP and its central matching solution. * Rolfe & Nolan announces HSBC has gone live in New York and Chicago with its futures and options-back-office-processing system.
Financial Industry To Benefit From Wireless Real-Time Quotes and Targeted Research
The prospects for wireless real-time quote and research applications has been discussed, promised and anticipated by global investment banks and other financial institutions around the globe.
What's Up in Wealth Management Technology
* Fincentric analyzes value of customer relationships.
* A wealth managemen platform ensures enterprise-wide consistency. * State Street launches an outsourcing business for the wealth management market.
Improving Financial Advisor Productivity
This paper is focused on how brokerage firms can undertake change initiatives to improve the productivity of their financial advisors and grow the firms assets under management without adding staff.
From Connectivity to Continuity: Lehman Leverages Its Client Portal for Disaster Recovery
E-commerce technology leads to improved disaster recovery at Lehman Brothers.
Industry Awaits GSTPA Announcement: To Go Live or Not To Go Live?
The Global Straight Though Processing Association plans to make an announcement by the end of the month regarding the "go-live" date of its Transaction-Flow Manager trade-matching utility.
Basel II May a Few Years Away, But Technology Work Shouldn't Be Put Off
Meridien Research's Deborah Williams discusses some of the technology implications Basel II and what financial services firms should be doing to prepare.
UNX Eyes Buy-Side Growth Via Launch of New Direct Access Platform
Looking to expand beyond its basket-trading buy-side niche, UNX has unveiled its next-generation Universal Brokerage Platform.
FIX Committee Looks to Change With the Times
The FIX Committee wants to change its structure and open up membership. Jordan & Jordan have been hired to approve its new look.
ELECTRONIC TRADING
* SWIFT forms an agreement with the NYSE that will enable customers to electronically connect to the Big Board using its SwiftNet FIX messaging system.
* PowerNet builds functionality that provides its end users with electronic access to electronic communications. * Brut receives approval to launch Brut Europe Limited.
MARKET DATA
* BONY acquires Jaywalk Incorporated.
* Caplin Data Systems and DataView form partnership to develop an online real-time trading and equity analysis tool. * HyperFeed provides stock market data to Captivate Network's elevator network.
RISK-MANAGEMENT TECHNOLOGY
* Palisade releases version 4.5 of @Risk desktop.
* Ascent Financial Technologies and Banco BBA customize and implement analytics from Financial Engineering Associates. * SunGard acquires Kronos Software.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Brown Brothers Harriman announce the launch of a front-end Web interface for Infomediary.
* CMC carries a full line of FIX products that complements any FIX Engine. * FMC announces that Platinum Asset Management Limited installed FMC's trade-communications network.
OPERATIONS
* Trema announces the launch of Settlement HUB.
* Omgeo announces the expansion of the Omgeo STP Partners Program with the signing of SimCorp.
Javelin Bought By NYFIX
Javelin, one of the oldest and most prevalent FIX-connectivity providers, which counts over 300 financial institutions as clients, is being acquired by Nyfix, a supplier of electronic-trading systems.
Goldman Sachs To Offer Derivatives Trading and Risk Services to its Prime Brokerage Clients
Prime Brokerage clients can access Deriviatives.com functionality for improved derivatives trading and risk management.
ELECTRONIC TRADING
* NQLX names Thomas Ascher its chief executive officer.
* The International Securities Exchange is thinking about listing single-stock futures.
MARKET DATA
* Caplin Systems and Trading Systems Associates form a partnership to extend
Caplin's real-time streaming data technology onto TIB and Triarch data feeds. * Sector opens an expanded Data Center for its managed services clients. * Sabrient Systems launches its newly designed Web site for institutional investment firms, hedge-fund managers and financial advisors.
RISK-MANAGEMENT TECHNOLOGY
* The Boards of Allied Irish Banks PLC and Allfirst Financial met to hear the results of an investigation by Eugene Ludwig who was hired to look into $700 million currency trading losses by Allfirst trader John Rusnak.
* SunGard Trading and Risk appoints Michael Clarke senior vice president of its SunGard Collateral operating unit. * Dr. Constantine Thanassoulas joins the Professional Risk Managers International Association's Blue Ribbon Advisory Panel.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Barclays Capital reaffirms plans to expand its North American headquarters within Manhattan.
* Spectrum EBP, LLC and Financial Fusion Inc. announce a strategic alliance in which Financial Fusion will be certified to the Spectrum network. * Franklin Templeton Investments' Chief Web Officer Jennifer Bolt was named "E-Commerce Executive of the Year."
OPERATIONS
* IBM and SunGard announce a strategic alliance that will assist customers in deploying STP solutions that support the effort to speed the settlement of financial transactions.
* The DTCC reports $819 million in revenue for 2001 from fees charged by its subsidiaries. * CMG chooses to use HelioGraph's ISOConverter product to provide ISO 15022 migration solutions to its German clients.
FINANCIAL MARKETS LEADERSHIP ROUNDTABLE
This roundtable focuses on the strategic impact of data networks on the global financial markets.
If the Unthinkable Happens
"In the event of a crisis, can we rely on our backup?"
With an Eye on Expansion into New Business Lines, NYSE Ponders Acquisition of Amex
The NYSE and NASD have recently held talks regarding a potential sale of the AMEX.
Executives Talk Networking, Straight-Through Processing at Roundtable Event
The impacts of data networking and emerging standards are the focus of a roundtable discussion among top executives in the area.
Morgan Stanley & Eagle To Develop New Hedge-Fund Software
Morgan Stanley Prime Brokerage, a service provider to hedge funds, and Eagle Investment Systems, are developing software that will enhance the functionality of their portfolio-accounting systems.
ELECTRONIC TRADING
* Nyfix acquires a 40 percent ownership interest in Madrid.
* Cinergy rolls out Triple Point Technology's Power XL trading system in support of its senior management, traders and risk-management staff. * IPC opens new sales and technical support offices in Hong Kong, Singapore and Sydney.
MARKET DATA
* Asset Control launches its ACDEX outsourced.
* OppenheimerFunds and the Steering Committee of RIXML.org continue efforts to further the acceptance of RIXML as the industry. * Credit Lyonnais and WestLB Panmure offer their proprietary research over the researchsummary.com financial portal.
RISK-MANAGEMENT TECHNOLOGY
* Wall Street Access offers Risk Analyzer risk analysis tools to its customers.
* Oliver, Wyman & Company forms a relationship with OpRisk Analytics to provide clients with operational risk consulting, data and software.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Self Trade selects Financial Fusion Server as the technology platform for its trading system.
* RIXML.org announces its efforts to facilitate investment-research. * FMC announces the launch of FMCSuite.
OPERATIONS
* Trema announces that IKB selects Finance KIT version 5.1 to automate its back office.
* BONY announces that DoCoMo selects the Bank as depositary for its listed ADR program. * Northern Trust is appointed global custodian by the London Borough of Haringey Pension Fund.
Interactive Forums
Disaster Recovery & Business-Continuity Planning conference last week was truly a great success. Over 400 focused disaster-recovery experts gathered, networked and listened to real-life experiences from other industry firms.
A Conversation with Aron Miodownik
Dealing with a wireless shakeout and slow customer takeup, Merrill Lynch's Aron Miodownik manages relationships with a global portfolio of vendors, carriers, devices and networks.
PRODUCTS & SERVICES
The latest from Wall Street's vendors.
Cross-border Processing for Professional Traders: Science or Art?
ABN AMRO's Rob Philippa writes about the challenges of operating in a global environment.
Though Times are Tough in the World of Wireless, Accenture Makes a Move
A tough year for wireless vendors has some falling by the wayside. Accenture, however, sees a market ripe with opportunity.
IT CHALLENGE
Thomas Weisel Partners LLC needs a solution that would allow the firm to track instant messaging.
Davidson Trust Launches CTFs, Picks Up Technology To Support Them
Davidson Trust launches in-house investment vehicle and buys an accounting package for its administration.
As STP Pressure Grows, Financial-Services Firms Tackle Data Management
In preparation for T+1, market-data vendors are touting STP-specific products and services.
The Key QQQuestion: Best Price or Fastest Execution?
The Island ECN and the Amex are battling for market share in the QQQ, a very popular exchange-traded fund.
Municipal-Bond Platforms Face Off in Retail Adviser and Institutional Space
Against the odds, three scrappy rivals in the municipal-bond space are targeting retail brokers and advisers.
Electronic FX: Reality or Just a Smoke Screen?
Citing reasons such as faster executions and reduced error rates, buy-side institutions and corporations are increasingly adopting electronic foreign exchange trading systems. But multi-bank FX portals like Currenex, Atriax, FXall and FX Connect still must break through some technological and psychological barriers before they can intitiate a mass movement awar from telephone-based FX trading.
DTCC HAS A VISION OF THE FUTURE: A World Without Reclaims
John Kiechle, DTCC director of strategy implementation, lays out the depository's plans to help the industry reach T+1. However, the long-term goal of eliminating reclaims is a touchy subject with some industry insiders who fear such a model would increase their level of risk.
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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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