Content posted in March 2006
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Crossing Over
Brokers are transforming their internal crossing networks into alternative trading systems to boost their match rates and earn market data revenues.
FIX Forges Forward
FIX adoption is finally taking hold across other asset classes and markets, helping traders manage their time better and breaking down corporate silos.
Advice for the Custom-Algo Set
Customizing algorithms is not for the faint of heart. Research and openness between broker and buy-side trader is a must.
Quick Releases
BNY Brokerage Provides Algorithms Via Bloomberg; FutureTrade Partners With QSG for TCA; Susquehanna Taps Lava to Offer DMA and Algorithmic Services
Hiring the Next Generation of Quants
To find quantitative skill sets, Wall Street firms are getting creative, including running trading contests and making acquisitions to secure talent.
Ready or Not
As the deadline for Reg NMS compliance nears, firms still struggling with unanswered questions may not be ready.
Wecker to Head Townsend
Wecker to Head Townsend
By: Ivy Schmerken
Jeff Wecker was named CEO of Townsend Analytics (TAL), the Chicago-based direct-access trading platform acquired by Lehman Brothers in December. Previously, Wecker was global head of electronic client services for Lehman Brothers. In his new role, Wecker is tasked to "run the business, make it a lot more profitable and grow the franchise," he says.
One of Wecker's current priorities is Project SPRITE, an initiative to support equities and bonds tradin
CME Promotes Kometer
As part of a minor restructuring of the Chicago Mercantile Exchange's development trading groups, Kevin Kometer, formerly director of advanced technology, was promoted to managing director, trading execution systems.
Instinet Hires Troy for Crossing Desk
In an effort to support its growing crossing business, Instinet has hired Chris Troy as a sales trader on the crossing desk.
Orc and Cameron Join Forces
Stockholm-based Orc Software, a provider of tools for electronic trading and market making, will acquire Cameron Systems, a provider of FIX protocol messaging solutions.
Trading Up
The Depository Trust & Clearing Corporation has named Bill Stenning vice president for business development.
Compliance Question? Ask NYSE
NYSE Regulation unveiled Ask Market Surveillance, a software-based legal research tool intended to help floor members and their legal and compliance officers answer questions about NYSE trading rules.
No More Headaches, Just Alpha
For some U.S. fund managers, trading globally is not an option. Setting up a 24-hour trading desk in the U.S. to trade in real time internationally is not a paltry undertaking, nor is setting up local branch offices around the globe.
EBS Launches Data Mine
EBS, a provider of transactional spot FX market data, launched EBS Data Mine, certified data of all currencies traded on EBS Spot since January 1997.
Matching Within
Automating internalization is all the rage lately. Over the past few months, we've been hearing that some broker-dealers have begun automating the matching of internal order flow by crossing buy and sell orders from various departments, including algorithmic order flow, direct-market-access flow, retail flow, etc.
Data Security: Out to Lunch, Er, Dinner
It was just last week that InformationWeek published the latest exhaustive analysis of what's emerging as the IT story of the first decade of this century: complete corporate and government ineptitude when it comes to managing sensitive personal data.
Investment Management Newsflashes: Advent Wins 53 Clients in 2005, and more
Advent Signed 53 Clients Last Year, The European Investment Bank Outsources IT Security, Public Pensions Get New Proxy Voting Policy From ISS, Campbell U and The Fiduciary Education Center Offer New Trust Certifications
Operations Newsflashes: Southwest Securities to Take on TD Ameritrade Clearing Clients, and more
TD Ameritrade Passes Clearing Customers Along, Lloyds TSB Goes Live With ReconNET, Linedata Delivering FT Interactive Reference Data
Trading Newsflashes: Bloomberg TradeBook Offers Access to CME Eurodollar Options
Bloomberg TradeBook Offers Access to CME Eurodollar Options, Griswold Goes Live With Lava ColorPalette, Norwest Venture Partners Invests $12.5 million in HedgeStreet, Eze Castle Software Integrates With Code:Red to Rank Research
E-mails filed as evidence in a wrongful dismissal suit apparently show IT executives engaging in unethical, and illegal activity.
Sanford Bernstein Goes Live With Omgeo ALERT Web Interface
Omgeo, is now working to bring the online interface of its ALERT services to all of its broker-dealer clients and Sanford Bernstein is one of the first to make the jump.
Trading Newsflashes: NYSE Wins SEC Approval for Hybrid Market
Royalblue Targets Buy-Side Market With U.S. Launch of Fidessa Workstation, Interactive Brokers Invests in OneChicago Stock Futures Exchange, ICE Opens Telecommunications Hub in London, Sungard's Decalog Integrates With UBS Algorithms
Investment Management Newsflashes: TD Ameritrade Eliminates All Account Maintenance Fees, and more
TD Ameritrade Eliminates Maintenance Fees Across All Accounts, Kensington Signs on for Advent Portfolio Exchange, FinLab Releases Budget Product Suite
Compliance Newsflashes: U.S. Regulators Warn of Bird Flu, and more
Avian Flu a Threat Say Regulators, Leeward Hedge Funds Using Fortiva, Actimize Teams With IBM for Online Fraud Prevention
Operations Newsflashes: JPMorgan Kills the Horizon Tool, and more
Chase Cooper Offers Migration Service From JPMorgan's Horizon, Protegrity Acquires Omnisecure, FSTC Forms Enterprise Architecture Group, GAIM Chooses FOFiX From RiskData
Bear Stearns Installs Wombat Platform to Fuel Low-Latency Trading
Bear Stearns signed a global license with Wombat to bring direct-feeds into its quantitative trading platforms.
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Voice over IP (VoIP) technology is poised to make a splash in trading rooms, according to a survey conducted by Finextra.
Reg NMS: A Pox on All Your Houses
Two major news stories came out last month that I can't get out of my mind.
Counterparty Data Challenge
For the financial services industry, risk and compliance always have been an inherent part of doing business.
The Dark Side of Open Source
Open source software may be free to download, but the lack of external support -- and internal communication -- can be costly.
Vanguard’s Vision of the Customer Experience
Adhering to four tenets can make your online presence user-friendly -- and profitable -- for all concerned.
Add Another Bolt to the Cyber Door
Financial institutions are searching for multifactor authentication strategies as regulators push more security mandates.
The Big Picture
Buy-side firms are beginning to use visualization software to track asset performance, but ease-of-use issues are slowing adoption.
Education in Regulation
A new master's degree program seeks to ease regulatory burdens with an influx of highly educated compliance professionals.
IM: Real-Time Problems
Traders increasingly are adopting public instant messaging services, but most of these applications open severe security holes.
Consumers to Foot Compliance Bill?
The industrywide cost of compliance has nearly doubled over the past three years, according to the Securities Industry Association (SIA), and costs may be passed on to investors through higher prices and fewer choices.
Building Blocks For Competition
New research from TowerGroup indicates that the next three years will see the New York Stock Exchange and Nasdaq attempt to win back block order flow from independent crossing network providers, and they may very well succeed.
Basel II Progress Varies by Region
When it comes to implementing Basel II compliance technologies, financial institutions' progress is all over the map, according to "Risk Management and Basel II: Comparing the Financial & Credit Risk Vendors," a new research and vendor ranking report from Celent.
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A large number of U.S. asset management firms are under spending on client services, resulting in significantly higher outflows of separate account assets
Nothin’ But .NET
With systems integration capabilities a key factor in vendor selection, technology providers increasingly are adopting Microsoft's .NET framework as a basis for product lines.
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Mellon Joins Eagle Performance and Analytical Solutions, State Street Expands Research Center With New Hires, Clearbrook Financial Selects CheckFree APL, HighMark Capital Management Selects Data Management Platform From Citadel, South African Firm Selects Charles River IMS
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