Content posted in February 2000
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Commonfund Employs Uncommon DoTell Interactive
Commonfund, a “manager of managers” with just over $25 billion in assets, has deployed Net Technologies’ DoTell Interactive system on its Web site.
Altvest Expands Hedge Fund Offerings to High-Net-Worth Clients
Altvest Connect will be launched this week to allow accredited investors with at least a $1 million net worth to access information on more than 1,600 funds via the secure Web site.
Consulting Giants Take a Walk on the Cyber Side
At a time when the dot-com consulting firms are enjoying inflated stock prices, professional service consulting giants like Andersen, PricewaterhouseCoopers, KPMG, Deloitte Touche Tohmatsu and Ernst & Young have been equally busy transforming their own consulting practices into e-business firms.
Investec Brings Applications to the Web
Investec Ernst & Company, the North American arm of the Investec Group, an international banking group based in Johannesburg, South Africa, is rolling out its new DeskTec system.
Mr. Stock Seeks Alliance with eSpeed
In an effort to provide its retail clients with online fixed-income trading capability, Mr. Stock—an Internet brokerage firm specializing in stock and options trading—is discussing a technology partnership with Cantor Fitzgerald L.P.’s eSpeed unit.
MatchbookFX Signs Back-Office Deal with Shadow Financial; IPO on Horizon
In an effort to cut its overhead and provide electronic straight-through processing (STP) for its clients, MatchbookFX—an Internet-driven foreign exchange (FX) matching system covering spot currencies—has incorporated Shadow Financial Services’ clearance and settlement software into its system.
Irish Stock Exchange and Deutsche Borse Agree on Technology Partnership
The Irish Stock Exchange (ISE), in an effort to attract more foreign members and make its stocks more visible, has signed a letter of intent to trade all of its products on the Deutsche Borse’s (DB’s) Xetra trading platform.
NYMEX Eyes Acquisition of BrentBroker.com
The New York Mercantile Exchange (NYMEX) is evaluating whether it should purchase a stake in BrentBroker.com, a soon-to-be-launched over-the-counter electronic communications network (ECN) covering the energy market.
ILX and TheStreet.com Sign News Distribution Pact
In a deal that marks its first foray into the world of major market data vendors, TheStreet.com has signed a distribution agreement with ILX Systems to make its financial news and commentary available over the ILX Workstation.
PointBase Packs Small Java DBMS into Handhelds
When Oracle co-founder Bruce Scott left the world’s leading supplier of large database management systems (DBMSs) in 1984, he knew that lightweight databases would be the next great hit.
Dain Rauscher Retools Brokers to Manage Data
Leveraging its existing back office, in January, Minneapolis-based Dain Rauscher Corporation said it would provide the firm’s more than 2,000 brokers with a central portal to access enterprise customer information by signing an agreement with Toronto-based Janna Systems.
ERisks.com to Become Full-Service Risk Portal
Risk management Web portal eRisks.com is expanding beyond its origins as an information and analytical services site and into the service-bureau and value-added broker arena.
Will the Brokerage Firm Become the Financial Nerve Center?
As brokerage firms are swiftly taking advantage of the Web and have done so more quickly than their banking and insurance company brethren, the question arises: will brokerage firms become the pulse of the market—electronically combining insurance, banking and brokerage in one central hub?
Apogee Adds ISPs to Its Financial Customer Target
Apogee Networks, a small Rochelle Park, N.J. start-up, is hoping to take up where large, traditional telcos have left off by helping firms manage their wide area network usage and billing.
A Conversation With Harley Lippman
This month, WS&T senior editor Robert Sales picked the brain of Harley Lippman, president and chief executive officer of Genesis 10, a software development and technology consulting firm specializing in e-commerce solutions.
GFInet Targets Professional Traders With New Electronic Platform
New York-based inter-dealer broker GFI Group has launched a new electronic trading platform for the professional trading community. GFInet is currently in use at GFI Group’s international equity business and is in the process of being installed at 15 client sites.
Ameritrade’s Ricketts Ready For a Japanese Foray
notebook | online infiltration
BOTCC, Eurex Will Survive CBOT Restructuring
In late January, the Chicago Board of Trade’s board approved a demutualization plan that calls for the exchange to separate its open outcry and electronic trading businesses.
BrokerTec Eyes NYMEX, BOTCC for Clearing Services
The New York Mercantile Exchange (NYMEX) and the Board of Trade Clearing Corp. (BOTCC) are both in the running to provide clearing services and software to BrokerTec Global LLC.
Power to the People
While there is no single individual crusading for a more open IPO market, now an insurgent-led movement, is gaining grass roots support to reform the IPO pricing and distributionprocess, utilizing the power of technology and the Internet to reach millions of online investors.
CreditEx Poised to Redefine Credit Derivatives Trading
The CreditEx site is set to be the first online trading system for credit derivatives. CreditEx seeks to provide a single destination for information and execution capabilities, increasing transparency and, as always, liquidity.
Multex.com Integrates Market Guide into Internet Growth Strategy
Multex.com, Inc., a ubiquitous distributor of Wall Street research reports, is striking lots of alliances to cross-market its content through other Internet sites.
Will Equality in the IPO Market Make the IPO ‘Pop’ Fizzle?
If you're looking to make a quick buck, you'f better get in on the IPO market fast, as the days of that sweet IPO pop could be numbered.
Credit Derivatives
Can’t get enough of credit derivatives and want more information? Need help managing your credit risk? Check out the following sites to research credit derivatives, credit ratings and White Papers on this burgeoning field.
Crystal Box Offers Clear View of Risk Management at CDC
CDC Investment Management, a subsidiary of Caisse des Depots et Consignations, has joined forces with NetRisk, an enterprise risk management company, to develop Crystal Box, an Internet-based reporting and analysis tool.
Talarian and Sound Financial Integrate Products for Distribution Framework
Talarian Corp. and Sound Financial Technologies have teamed up to deliver an advanced system for electronic information distribution in the financial services community.
European Energy Community Pays $10.5M to Snag Majority Stake in EEX
The board of the Eurex-owned European Energy Exchange EEX has agreed to sell 52% of the soon-to-be-launched electricity market to a plethora of European energy sector companies.
3DstockCharts.com Answers Call to Integrate ECN Data
The site, 3DStockCharts.com, has been live with real-time data on buy and sell orders placed through the Island ECN since October and has recently integrated the Archipelago order book.
CX Gets Green Light For Block Trading: Empowers Buy-Side Firms
In a decision that could heat up the battle for U.S. Treasury futures market share, the Cantor Exchange (CX) last week received permission from the Commodity Futures Trading Commission (CFTC) to perform block trades of its long bond and 10-year note futures products. The CFTC’s approval will enable participants in CX’s market to execute trades of 100 or more contracts—for the designated products—directly between each other, providing institutional investment managers with in
Schwab Enters Beta with Wireless Trading
Charles Schwab & Co. has taken its first steps into the largely uncharted waters of wireless trading, beginning the beta test of its wireless trading product on February 14th. This Valentines Day gift represents the beginning of a “soft launch” in only a few areas, says Bob Taylor, who is heading up the wireless initiative. The beta testing will be followed up by a nationwide release by the end of this quarter.
CX Gets Block Trading Approval
In a decision that could heat up the battle for U.S. Treasury futures market share, the Cantor Exchange (CX) last week received permission from the Commodity Futures Trading Commission (CFTC) to perform block trades of its long bond and 10-year note futures products. The CFTC’s approval will enable participants in CX’s market to execute trades of 100 or more contracts—for the designated products—directly between each other.
Liffe Nears All-Electronic Completion, Moves Forward with CME Alliance
The London International Financial Futures and Options Exchange (Liffe) and the Chicago Mercantile Exchange (CME) have scheduled March rollouts of two of the strategic initiatives they embarked upon after forming a partnership last summer.
Maxfunds.com Goes Live With Equity No-Load Mutual Fund Portal
Maxfunds.com went live last week with a site that purports to be the only place on the Web where an average investor can easily research and compare equity no-load mutual funds. With over 1550 funds on the site—200 of them small, unknown funds that may still be valuable to the average investor—Maxfunds.com is poised to become a financial information portal.
Panel Explores ECN Issues
Competition is good and consolidation of order flow may be necessary, but a Nasdaq-sponsored central limit order book is not in the best interests of ECNs. At least, that’s the opinion of panelists who last week spoke at an SIA-sponsored conference session entitled: ECNs, Friend or Foe. During the session, representatives from Island, Archipelago, TradeBook and Instinet debated the good, the bad and the future of the ECN business.
CX Gets Green Light For Block Trading: Empowers Buy-Side Firms
As e-commerce pervades the brokerage community, the buy side is beginning to see services never imagined before the advent of the Internet. Brokerages, and third-party vendors, are scrambling to offer institutional money managers online services—from trading and research to risk and portfolio management tools—that will only increase the level of service that the buy side receives, says Bob Iati, an analyst in the securities and investment practice at the TowerGroup.
New Portal Brings Together Financial Links for Institutional Investors
The recently expanded and enhanced InvestmentSeek.com site provides institutional investors with a complete source for information and research. The site, which currently is attracting about two hundred users per month, brings together and provides links for Web sites focusing on information relevant to the institutional arena.
Dresdner Gestion Installing IDEE
Dresdner RCM Gestion, the French division of Dresdner RCM Global Investors, has just completed installing the core portfolio management component of Décalog’s IDÉE, and is beginning installation of the application suite’s various modules, including IDÉE Trader, IDÉE Compliance and IDÉE Performance. The firm, which spent over 10 months of 1999 installing IDÉE’s core functionality, is beginning to port its client portfolios from the propriet
MarketXT Hopes to Expand Following Acquisition by Tradescape
In a stock deal valued at $100 million, online trading firm Tradescape.com last week acquired the after-hours trading system MarketXT. Under the arrangement, which is expected to be completed within a few weeks, Tradescape is expected to integrate the MarketXT trading system with its own and route orders through the recently SEC-approved ECN. While exact terms of the deal have not been revealed, the companies have outlined their plans to go after the institutional arena.
Morgan Stanley and OM Build a New Online European Stock Exchange
Targeting retail brokerage firms that want to engage in cross-border trading, Stockholm, Sweden-based OM Group and Morgan Stanley Dean Witter last week teamed up to launch a new online European stock exchange.
Gateway Financial Set to Go Live with FIXChange.net
Gateway Financial Solutions is planning to go live on Wednesday with FIXChange.net, a network for connecting buy- and sell-side traders directly to independent floor brokers on the floor of the New York Stock Exchange.
MarketXT Hopes to Expand Following Acquisition by Tradescape.com
In a stock deal valued at $100 million, online trading firm Tradescape.com last week acquired the after-hours trading system MarketXT.
DB Ponders Restructuring; Eyes Capital for ECNs and Clearing
Pending shareholder approval, the Deutsche Borse (DB) A.G. will restructure its ownership—either via a private placement or an initial public offering—later this year.
W-Trade Releases 401k Application for Handhelds
W-Trade, known for enabling brokers and their clients with wireless trading, has extended its wireless application suite to include w-401k, a portfolio management and trading application suited for investors and fund managers. The product, released with a host of others last week, can also be set up to deliver alerts on position changes dependent on predefined rules.
Longview Focusing on LandMark 3.0; ASP and Browser in Mind
The Longview Group, a provider of trade order management systems, is spending a lot of time and money on LandMark 3.0, the next generation of its trading system expected to be released in the fourth quarter of 2000.
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Exclusive: Inside the GETCO Execution Services Trading Floor
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