Content posted in January 2002
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As Global Crossing Declares Bankruptcy, SWIFT Moves to Calm Customer Concerns
SWIFT has already transitioned much of its network maintenance to Global Crossing and is trying to ensure its customers won't be affected by Global Crossing's bankruptcy.
SuperMontage is Coming -- Should ECNs be Worried?
The scheduled July launch of Nasdaq's SuperMontage has once again brought the future of ECNs into the spotlight.
Algorithmics and Bloomberg Team up To Integrate Trading and Risk
The integrated trading and risk solution offers ease of use for customers, new buy-side client area for Algorithmics.
ELECTRONIC TRADING
* American Stock Exchange selects Appia - Javelin Technologies' FIX messaging application - to facilitate its participation in the OLA.
* Nasdaq Europe hires Daniel Pouget and David Gandy as managing directors to head up sales efforts in different regions of the continent. * Brut completes a FIX link to Traders Console - Eze Castle Software's order management system.
RISK MANAGEMENT TECHNOLOGY
* Fairfield Greenwich Group selects Measurisk's ASP service for its multi-manager hedge fund portfolio.
* Euroclear signs on for Thales Information Systems' Asterisk global credit risk management system. * The Global Association of Risk Professionals hosts its third annual Risk Management Convention and Exhibition and Financial Risk Manager of the Year awards.
MARKET DATA
* FT Interactive Data releases TurboFeed.
* Amicus targets the financial-services community with the launch of its new Amicus CMS content-management system. * The International Swaps and Derivatives Association complete the integration of Financial products Markup Language into its organizational structure.
INVESTMENT MANAGEMENT TECHNOLOGY
* Advent and Finaplex, announce a co-marketing agreement that will enable Finaplex to offer Wealth Management Platform to Advent clients.
* Bank of Bermuda's GFS and Advent announce that the Bank will use Advent's Geneva, real-time global portfolio-accounting system. * The Vanguard Group unveils a new suite of financial-management services for its Vanguard.com Web site.
OPERATIONS
* MPN launches an integrated global-order-routing and settlement network for GEMs.
* Michael Brown and Jacques-Philippe Marson become industry representatives to the Omgeo Board. * SmartStream Technologies, Inc. announces agreement with Omgeo, to advance straight-through processing and reduce settlement cycles for custodians and investment managers.
SECURITIES INDUSTRY MIDDLEWARE COUNCIL ANNOUNCES THIRD ANNUAL SECURITY
SIMC announces that its third annual security update meeting, "Logging into Wall Street: Federated Identity Management," will take place Feb. 26 in New York.
The Demise of BondBook: The Saga Continues
Reasons for the collapse of BondBook focus on the failure to build critical mass, lack of market participant support and failure to raise additional funding from the fixed-income dealer/owners.
Meridien Report Says Buy-Side Firms Need an OMS
A new report by Meridien Research suggests getting an order-management system is a good way for buy-side firms to start their straight-through processing journey.
NYSE Launches OpenBook In Quest for Improved Price Transparency
Targeting professional buy-side and sell-side traders, the NYSE has rolled out a new market data product that will allow end-users to see the full depth of bids and offers for all of the stocks the exchange trades.
Former GSTPA Head Re-Surfaces at Reuters
The information provider names Dr. Anthony Kirby group marketing director to lead its straight-through processing initiatives and outlines its strategy to help firms move to T+1.
ELECTRONIC TRADING
* Enron Corp. sells North American wholesale electricity and natural gas trading business to UBS Warburg.
* ICE appoints Richard Spencer its chief financial officer. * Computershare Ltd names Dr. Iain Saville its managing director, Europe.
MARKET DATA
* Asset Control and FT Interactive Data team up to provide a fully integrated solution for financial institutions.
* The Securities and Exchange Commission approves a filling for Nasdaq to offer a new online data package for broker/dealers and institutional investors. * The Depository Trust & Clearing Corporation names Standard & Poor's its primary municipal bond pricing vendor.
RISK MANAGEMENT TECHNOLOGY
* Over twenty-five former regional directors of the Global Association of Risk Professionals form a new international nonprofit association of risk managers.
* International Swaps and Derivatives Association and FpML.org announce the FpML Standards Committee has decided to publish a Trail Recommendation for Financial products Markup Language Version 2.0. * Michael Zerbs is promoted to chief operating officer at Algorithmics.
INVESTMENT MANAGEMENT TECHNOLOGY
* Fincentric Corporation board of directors appoints Nick Mancini, president and CEO of Assante Canada, to board of directors.
* Spectra Securities Software Inc. revenues up 29% over the same period last year. * Investment Technology Group, Inc. announces revenues increased 31% over fourth quarter 2000 levels.
OPERATIONS
* Omgeo announces expansion of the STP partnership with Charles River Development.
* Omgeo also announces 17 firms signed on as "Early Adopters" of Central Trade Manager global STP platform. * Hewlett-Packard and Capco, announce agreement to develop customized, end-to-end business and technology solutions for global-financial-services industry.
120 Days Out, and an Opportunity Unrealized
Everyone in the derivatives industry is ready to go electronic. The terrorist attacks has become a rallying point for fully electronic systems.
VMUs and DTCC News Dominate T+1 Conference
The Securities Industry Association held its T+1 update conference on Wednesday, Jan. 16 in New York City. Overall, the attendees received one message loud and clear: there's a lot of work to do.
Management Change and Data Center Consolidation on Agenda at Arca/Redibook
Archipelago and Redibook are eyeing data-center consolidation and stronger management as they await regulatory approval for their merger.
BITA Plus Introduces Outsourced Risk Reporting and Performance Attribution for Fund Managers
New BITA Complete service offers fund managers an outsourced option for risk reports and performance attribution via the Internet.
ELECTRONIC TRADING
* Deutsche Borse AG forms a joint venture with Computershare Ltd.
* SFE Corporation signs a deal to outsource its clearing technology and operational support functions to OM. * Aurora Software launches new disaster recovery application.
MARKET DATA
* RA Vernon joins the Reuters Global Operations team.
* CMS WebView launches decryption-delivery-software system for its Digital Data Feed. * ESignal adds streaming, real-time European-financial-market data to latest version of online-quote system.
RISK MANAGEMENT TECHNOLOGY
* Kamakura names Jaqueline Outram managing director in charge of client relationships and operations in Australia and the Asian Pacific region.
* SunGard combines Comdisco's Availability Solutions assets with its Business Continuity and Internet Services group to form SunGard Availability Services group. * Tamesis appoints Les Gosling sales director.
INVESTMENT MANAGEMENT TECHNOLOGY
* Indata announces the release of InContact.
* Spectra Securities Software Inc. announces the National Bank Correspondent Network rolls out the Web-based version of Spectra. * Investment Technology Group, Inc. announces that revenues increased 31 percent over fourth quarter 2000.
OPERATIONS
* Encompys, announces addition of Michael J. Martini to Executive Management Team.
* Principia Partners LLC announces that JPMorgan Institutional Trust Services licenses Principia System to support global ABCP. * SunGard eProcess Intelligence announces that KBC Bank NV selects intelliMATCH.
Former Tradinglinx CEO Looks to Acquire Abandoned Code, Start New Company
Gordon Henderson attempts to get ahold of source code to software that automates post execution, pre-settlement trade handling, a la Omgeo and the GSTPA.
International Bytes
City Card Systems AG signs an agreement with SCM Microsystems for 10,000 smart card terminals; JPMorgan Investor Services converts asset managers to the new SWIFT messaging standards; The African Banking Corporation signs a software deal with AXS-One Inc.
Equity Industry Roundtable Sparks Best Execution Debate
Best execution was on the agenda as industry executives came together to discuss electronic equity trading topics last week.
Celent Communications Ranks Wealth-Management Vendors
Wealth-management offerings are on the rise. Celent Communications tries to sort everything out in its most recent report.
UBS IMPLEMENTS CAPLIN FOR REAL-TIME DATA DELIVERY
Web site delivers real-time streaming market data to end-users.
ELECTRONIC TRADING
- OneChicago names Robert Walsh its managing director of operations.
- NQLX signs clearing agreement with the Board of Trade Clearing Corp. - Brut ECN rolls out the Brut Workstation.
MARKET DATA
- Reuters and Citywire team up to launch Reuters Citywire Online Reports.
- Barclays Stockbrokers go live with new Website with tailored research for private investors. - Morningstar appoints Martha Dustin Boudos chief financial officer.
RISK MANAGEMENT
- Meridien looks into technology used to implement privacy management; Board of Raft International appoints Derek Gordon Hall.
- Meridien Research looks into technology used to implement privacy management and provides estimates on spending. - The Board of Raft International appoints Derek Gordon Hall as a non-executive director of the company.
INVESTMENT MANAGEMENT TECHNOLOGY
- Vision is scheduled to launch Advisor Defined Portfolios.
- FundQuest Incorporated signs agreements with six institutions to offer mutual fund and separate-account investment platforms. - SecuritiesHub announces that 144A offerings are featured with public and exempt issues on SyndicateHub.
OPERATIONS
- GSCC, MBSCC and the EMCC approve a plan for three organizations to become subsidiaries of DTCC.
- Board of Trade Clearing Corporation announce the nomination of three persons for election to its Board of Governors. - J.P. Morgan Chase & Co. and Systems & Services Technologies, Inc. announce that the parties have signed a definitive agreement under which JPMorgan will acquire SST.
Users Have Favorites For Direct-Access
Who better to learn from than those that have gone before you? Read users highlights what they like and don't like about the vendors they have chosen as the bedrock of their direct-access technology.
Competition Hot in Direct-Access Market
With many vendors in the space, there is something for everyone looking to get into the direct-access game. If you don't have the time or interest to build it yourself, it's probably time to check out what they have to offer.
A Journey From Active Day Traders to Institutions
Direct-access trading is moving from the realm of the day trader to the buy-side institution. Why? What exactly is direct access all about and is it something you need to consider for your firm to stay on top? A primer.
BCP & the Custodian Bank
A handful of custodian banks are at the center of most Wall Street transactions, which means if they go down, they take their counter parties with them. To make sure that doesn't happen, strong business-continuity plans are a must. In a post-Sept. 11 world, how much do you need to know about your custodian's disaster-recovery plans?
Wealth Management: The Race to Serve the Mass Affluent
Lured by the untapped potential of the mass affluent, financial services companies are turning to online wealth management tools to scale their business and help their financial advisors serve thousands of accounts.
Product Watch
The latest releases from Wall Street vendors.
When the Unthinkable Happens: The Need for Ergonomics and Mobility in BCP
There's a lot more to consider than just technology.
Will Bluetooth Bite Into Financial Services?
Is Bluetooth tech ripe for financial services?
IT CHALLENGE
Outsourcing: When to do it, when not to do it, how and why.
Say Goodbye to 7775 15022 Coming on SWIFTly
Financial services firms are gearing up for SWIFT's new messaging format, but will take advantage of all it has to offer?
Beyond FIX: Vendors Branch Out to Satisfy Customer Needs
FIX vendors expand beyond the front-office protocol.
Financial-Services Firms Look to Ensure Market Data Feeds Correspond to Needs
Many firms are finding that their market data needs are changing with the times. Here are some practical tips on streamlining to maximize your information investments.
The Collision Course of Business-Continuity Planning, Operational Risk and Basel
JP Morgan Chase applies an integrated framework to cover operational risk across the enterprise.
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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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