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ATS Morphs Limitrader into a Technology Seller Limitrader changes its tune from an online bond trading marketplace to a seller of technology.
Nasdaq Signs SSF Pact with Liffe, Acquires Majority Stake in Easdaq and Continues Demutualization In a whirlwind of activity, the Nasdaq last week formed a single stock futures alliance with the Liffe, purchased a controlling interest in Easdaq and sold off a chunk of its market to a private equity firm.
Options Clearing Corporation To Link Exchanges A consortium of five securities exchanges has decided to contract with the Options Clearing Corporation so buyers and sellers of options contracts can quickly find the best price.
Limitrader Says Its Technology Is the Best In the name of customization, Limitrader overhauls its corporate bonds technology.
Reuters and Microsoft Team Up to Provide Instant Messaging for the Financial Services Industry Reuters moves forward with its Internet strategy by teaming up with Microsoft to develop an instant messaging service aimed specifically at the financial services industry.
BUY-SIDE BRIEFS John O'Brien, CPA, named the new EVP Chief Financial Officer (CFO) for Macgregor; BNY ESI announces an enhancement to BNY ESI's Commission Optimizer; Fremont Investment Advisors announces the launch of a new website.
ELECTRONIC TRADING BRIEFS CME and CheMatch.com complete the development of the CME-CheMatch benzene futures contract; Kerstin Hessius named the new president of Stockholmsboersen, effective August 6 of this year; Currenex signs a deal with IFS.
MARKET DATA BRIEFS The formal bidding process for Bridge's assets begins; Reuters appoints Harry Temkin to managing director of equities product development; Thomson Financial and Xpedite announces an agreement to supply a back office-messaging platform to FIRST CALL Full Circle.
RISK MANAGEMENT BRIEFS Thomson Financial/Vestek introduces a mathematical formula to be applied to its performance attribution analysis; Algorithmics to hold its annual Algorithmics Risk Conference.
Blackwood to Run its Trading Platform on Global Crossing's Broadband Network Blackwood's institutional trading unit has signed a networking pact with Global Crossing that will unite Blackwood's direct-access platform with Global Crossing's extranet.
J.P. Morgan Partners Gains Efficiencies With Syncata J.P. Morgan Partners is gaining efficiencies with an internal portfolio-review system developed by technology vendor Syncata.
Bridge Goes After New Market with Enhanced Version of BridgeActive1 Bridge releases open workstation to integrate data feeds from multiple providers.
MARKET DATA BRIEFS Xigo, Inc., signs an agreement with BridgeNews to redistribute and reprint BridgeNews Bulletins as a part of its Dynamic Intelligence ASP offerings; COMTEX News Network, Inc adopts NewsML.
RISK MANAGEMENT BRIEFS West Broadway Partners, Inc. appoints Exeter Group, Inc. to revamp and expand its position and risk management systems; Quaestor Investment Management is implementing the latest version of BITA Plus' BITA Risk Modeller.
ELECTRONIC TRADING BRIEFS REDIProducts announces its all-time record in executing; Actant opens offices in Frankfurt and London; AZX, Inc. launches a new 9:30 AM Market Opening Auction.
BUY SIDE BRIEFS J.P.Morgan Investor Services appoints Ramy Bourgi as the Business Executive for Europe, Middle East & Africa; SunGard Investment Management Systems opens an office in Frankfurt, Germany; The Bank of New York launches Interactive Portfolio Flow Monitor.
Howard Edelstein, President/CEO of Omgeo, Steps Down Omgeo unexpectedly announced that it will be replacing Howard Edelstein as the soon-to-be-approved company's future president and CEO.
LME Gets Approval to Roll Electronic Trading Platform for Members in the U.S. The London Metals Exchange has just received the green light to launch its electronic trading platform for its members in the U.S.
CalPERS Implements Barra TotalRisk Major pension fund Readies to go live with Barra System for firm-wide risk management.
Wall Street Associates Finds FIX With INDATA Wall Street Associates, a money-management firm largely servicing pension funds, has gained FIX functionality to further streamline the communication of orders to and from its sell-side broker dealers.
ELECTRONIC TRADING BRIEFS BOTCC launches a next-generation clearing system dubbed Meta-Clear; The New York Mercantile Exchange selects GlobalView Software to develop the infrastructure for enymex; Rand Financial Services signs up two new European customer to A/C/E.
MARKET DATA BRIEFS Wilco International to promote its Business Information Exchange product internationally; ITG installs Asset Control's data management platform to support its investment research services; Fineco teams up with Bridge to display intraday charts.
RISK MANAGEMENT BRIEFS ARCA Asset Management chooses SunGard's Panorama and Decalog integrated solution for trade support, order management and risk analysis; ERisk to host the next in its ongoing series of its iConferences.
BUY-SIDE BRIEFS Union Investment Gesellschaft mbH selects Vitria's BusinessWare; EnvestNet Group adds Joel Burns, John Gould and Tom Waisnor to its sales team; Thomson Financial reports that FDIC acquired a license to use PORTIA.
Soliciting Feedback Kerry Massaro, the editor-in-chief of Wall Street & Technology, introduces our Reader Advisory Board and makes a request from you, the readers.
NASDAQ and AMEX: Divided They Stand When the NASD acquired the AMEX back in 1998, promises of a joint technology and marketing effort between the AMEX and Nasdaq--the NASD-s stock market subsidiary--were the talk of the industry. Two years later, all that seems to have been forgotten and the two exchanges are quietly going their own separate ways.
Lights Out: What Killed Off the California Power Exchange? The lights have gone out on The California Power Exchange, leaving the energy markets in a state of flux, bankruptcy and mayhem. The energy trading arena wonders if fledgling B2B exchanges can succeed in a market where the CalPX clearly failed.
Howard to Lead ProTrader's Buy-Side Sales and Marketing Effort ProTrader Group expands the role of Craig Howard--the firm's managing director of sales and marketing.
WorldStreet Hires Jack Guinan to Spearhead Retail Push WorldStreet Corp. hires Jack Guinan as its director of retail operations.
Wofex Tabs Former ITG Executive for V.P. Post Michael Earlywine named v.p. of product strategy and trading at Wofex.
Electronic Trading: The Next Generation As electronic trading becomes more and more popular, FIX can help smooth communications
ProTrader Targets Buy Side; Touts ECN Connectivity and Cheaper Costs ProTrader Group is now marketing its GR8Trade direct-access trading system to institutional investment firms and hedge funds.
IT CHALLENGE The Challenge: Financial Services firms are grappling with the challenge of managing e-business systems and processes and determining operational efficiency. GartnerGroup, IBM and InfoRay have joined forces to create a benchmark of key performance metrics to help firms understand how efficient their e-business solutions really are.
Parlano To Extend Real-Time Collaboration to Mobile Finance Users Parlano to extend instant messaging notifications to wireless devices.
The OCC: Implementing Technology With An Eye on the Future The OCC in the process of converting its processing onto a new technology platform called Encore.
ePIT Unveils Market Partners Program; Attempts To Recruit ISVs, Hardware Vendors, Integrators In an attempt to provide a one-stop-shopping trading solution for its clients, ePIT has formed a partnership program.
FEA Enhances VaRworks Product with Advanced Stress Testing and Market-Risk Scenario Builder Appealing to smaller firms and customer demand, FEA introduces new version of its VaRworks product for market risk management
Javelin Ships Appia: New Electronic Trading Software Replaces Coppellia Javelin introduces new product to replace Coppelia.
SunGard Provides Greater Access with Messenger SunGard has developed a new module, which facilitates more efficient information flow from its Decalog products to the professionals that use them.
BUY SIDE BRIEFS Wilco International to market its Business Information Exchange (BIX) central data repository product globally; The Northern Trust announces new program for corporate strategic equity portfolios; Citisoft launches a new service to provide independent consultancy for the retail investment management market.
MARKET DATA BRIEFS Reuters has acquired Diagram fip SA; Michael Bloomberg step down as chairman of Bloomberg.
RISK MANAGEMENT BRIEFS Dr. David Shimko elected to the Board of Directors of the new Delaware holding company; FinPortfolio, Inc. releases enhanced functionality that allows investors to analyze multiple holdings across portfolios.
ELECTRONIC TRADING BRIEFS Eurex expands its repo trading; Interactive Brokers LLC has changes the name of its holding company; Visible Markets, Inc. announces the integration of its trading system with State Street.
The Nuts and Bolts of Merging: J.P. Morgan, Chase Combine Technologies A fusion of technology platforms brings the financial industry a new giant called J.P. Morgan Chase.
Stark & Roth Find Reconciliation With Bremer Bremer Associates to launch a more specialized system which looks to solve a large administrative headache faced by many firms in the asset management world.
Don’t Panic. Financial Services Firms Seem to Have Cyber Risk Under Control A new type of risk is making itself known to risk managers across the globe: cyber risk.
Market Axess to Acquire Trading Edge Eyeing liquidity and anonymity, Market Axess and Trading Edge agree to unite.
Buy Side Says Take Care in Assessing Technology Guidance on how to assess the multitude of technologies in the marketplace.
AMEX Becomes Latest Participant In the Floor Expansion Trend AMEX increases the space on its equity and options trading floors and plans to expand further in the near future.
Account Aggregation Must be a Stepping Stone to eCRM to Suceed A Meridien research report says that account aggregation services cannot be sustained on their own.