Content posted in July 2007
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SEC Announces 17-Member Financial Reporting Committee
The SEC has revealed that Morgan Stanley CFO David Sidwell, Microsoft Corp CFO Christopher Liddell and Jeffrey J. Diermeier, former global chief investment officer at UBS Global Asset Management, will be among the 17 financial industry experts charged with making the U.S. financial reporting system more useful for investors and less complex for U.S. companies.
Private Markets Threaten Exhanges
If companies continue to choose to raise money via private placements rather than via IPOs and electronic venues fuel a secondary market, what will the future hold for the exchanges?
Nasdaq, Goldman Sachs Creating Electronic Trading Platforms for Private Equity
As issuers turn to private markets to raise capital, Nasdaq and Goldman Sachs are introducing electronic trading platforms to build liquidity in unregistered offerings.
OTC Derivatives Face Post-Trade Challenges
OTC derivatives are burdened by volumes of paper, spreadsheets and deal tickets. So what will it take to automate the post trade landscape?
Merrill Lynch, Lehman Brothers, Morgan Stanley Invest in IT Recruits
"In 1971, I was a high school graduate with no aspirations of college and no money for college, in fact I couldn't afford to buy a piece of clothing at a store until I was 17," related Diane Schueneman, senior vice president and head of the global infrastructure solutions group at Merrill Lynch at an unusual commencement ceremony today. Instead of pursuing higher education, Schueneman got a jo
Morgan Stanley Ranks First Among Bulge Bracket Brokers Providing Electronic Trading Services
Financial Insights Ranked Morgan Stanley as the top broker for providing DMA, algorithmic trading, TCA and EMS to buy-side clients.
Direct Edge CEO Launches Bill's Emails
Today is William (Bill) O'Brien's first day on the job as CEO of Direct Edge ECN. He began this new role by reaching out to the trading community of current and potenital customers with an email that explains why he is returning to the ECN world.
UBS Trading Floor Driven By Proprietary Technology
About 80 percent of the trading technology used at the firm is internally developed.
Investment Banks Gobbling Up Trading Floor Space
JPMorgan, Wachovia, Goldman Sachs building, buying, and expanding trading floors in New York and London.
Multibroker Execution Platforms Slowly Gaining Adoption
Customers seem to want open execution platforms, but multibroker execution platforms still fail to attain widespread adoption. Fortunately, we are starting to see the multibroker platform pushing forward.
HedgeStreet Lures Bakas from CBOT
Thomas Bakas to help build out HedgeStreet's Institutional Platform.
Your Guide to the Ultimate Trading Floor
Firms are vying for prime real estate as they seek to build bigger and more technologically advanced trading floors. But what goes into building the ultimate trading floor?
Penny Pricing In Options Raising Possibility of Options ECNs
The options 'penny pilot' is changing the options trading landscape, giving rise to the possibility of more-ECN-like models.
Dark Algorithms Solving Fragmentation Issues
Broker-dealers are coming out with all flavors of liquidity-seeking algorithms to search dark pools and ensure customers are finding hidden liquidity.
James Kearney Joins National Stock Exchance
James Kearney brought to head up business development and client relations at NSX
Wall Street Industry Moves for Summer of 2007
Tim Lind to perform strategic planning for Omgeo
Advent Software appoints Chris Flynn as VP of product management Minor Huffman moves to FXall Rinando Soto joins EXE Castle Integration
TowerGroup's Little-Gill Joins Linedata
Gavin Little-Gill, Towergroup Research Area Director leaves to join Linedata
RealTick Integrates Two New UBS Algos
Townsend Analytics announced the availability of two new algorithms from UBS available on its RealTick Execution Management System (EMS). UBS' Tap and TapNow algorithms, the latest from the firm's Global Direct Execution Services, seek out both dark and displayed liquidity.
Business Intelligence is Next Holy Grail, Says American Century's Gudrun Neumann
Data Remediation, Rationalization and Distribution Top CDO's agenda
Ameriprise Financial Replaces Advisor Technology
Multi-Asset, Multi-strategy Is the Future at State Street Global Advisors
Pioneer Moves From Data Management to Enterprise Information Management
Northern Trust's Globally Dispersed Businesses Require 24/7 Customer Service
Nicholas-Applegate Saves $800k With Consolidated Matching & Settlement Platform
SOA Infrastrucutre Paves Way for Web 2.0 at ING Investment Management
Fidelity Continually Enhancing Online Retirement Planning Tools
New Fixed-Income Trading Platform In Store for Evergreen Investments
Eaton Vance Data Center Rebuild Slated for '07-'08
Anna Ewing Innovates Trading at Nasdaq
Web-based portal market for qualified institutional buyers launched, Equities platform leveraged to grade both equities and options, Handling volumes and latency demands for customers continues to drive initiatives
International Securities Exchange Grows With Daniel Friel
ISE grows fully displayed market business, which launched in December 2006, With advent of penny pricing, message rates expected to increase, Merger with Eurex expected to close fourth quarter this year
Edwin Marcial Makes Improvements at ICE
New clearinghouses in Euopre and U.S. will share technology platform, Platform improvements cut response time from 600 ms to 28 ms, Production data center moving to Chicago; disaster recovery to Atlanta
Jim Krause Improves Performance at CME
Preparations for merger with Chicago Board of Trade under way, Capability in options and over-the-counter trading arena expanding, New compression approaches minimize bandwidth utilization and storage growth
CBOT Moves Ahead With William Farrow's Leadership
Planning for proposed merger with the CME in the works, Continuing education for employees and community a priority, Focus on back-office systems and capitalizing on migration window are key
Susan Certoma Takes Wachovia to the Next Level
DMA and algorithmic trading open door to high-performance computing, Providing a single infrastructure with multiple services key to SOA strategy, Amnet acquisition demands consolidation of wholesale vertical in the mortgage business
Scottrade Succeeds With the Leadership of Ian Patterson
Web site speed ranks among the highest in the industry. Scottrade continues to grow 300-branch base and service more customers. Recently announced partnership with McAfee provides customers free security software.
Diane Schueneman Plans for Merrill Lynch's Future
Completion of infrastructure build-out creates "gobal support model", 70 percent of technology investments channeled into new development, Straight-through processing platforms for high-volume a priority
John Galante Applies Strong Work Ethic at JPMorgan
Best-in-class reporting system deployed globally to more than 1.000 clients. With $15.2 trillion in assets under custody demands superior processing engines. Relationships/intern programs with key universities guarantees a wealth of future talent.
Christopher Rogers Helps Instinet Expand Globally
Instinet ramps up technology efficiency with a rewrite of its "Core". Overhaul of Newport portfolio trading system offers significant upgrades. Chi-X launched for trading European equities; additional systems in the works
Tom Sanzone Moves IT Ahead at Credit Suisse
Capabilities and presence extending in Asia, the Middle East and Latin America, Streamlined processes, structures and systems deliver better results to clients, Virtualization technologies employed to improve efficiency, quality and online capability
What's Wrong With CDO Models?
Watching the gruesome, global train wreck that is hedge funds heavily invested in collateralized debt obligations (pools of bonds, loans or other assets, the subprime mortgage pools being the ones in the most trouble today), we wonder, is something wrong with the models investment firms use to price and gauge the risk of these derivatives?
Will Investors Ultimately Be Left Holding the Reg NMS Tab?
Investors may be the ones paying for enhancements to trading systems, as exchanges and brokers scale systems to handle the skyrocketing amount of Reg NMS message and quote traffic.
Check out UBS's Trading Floor: Photos of the World's Largest Trading Floor
Everyone wants to be privvy to the inner workings of a trading floor. We were fortunate enough to be invited (ok, we did some begging) to Stamford, Conn to take photos of UBS's floor, the largest tradging floor in the world. We're featuring them in Anatomy of a Trading Floor, one of our newest features. Our photographer took phenomenal shots that show the grand scale of the 1,400 seat floor and offer close ups of various traders' desks, now accompanied by detailed captions describing the technol
TradingScreen Releases MiFID In a Box
With the MiFID deadline approaching this fall and firms in the midst of preparations, TradingScreen has released its MiFID In a Box offering to help buy side firms meet the upcoming European regulatory guidelines.
The End of Labor Arbitrage
The age of outsourcing to India for the cheaper labor costs is over, according to S. Premkumar, corporate officer and global head-financial services at Indian outsourcing firm HCL Technologies. Where once a function performed by 100 U.S. employees could be handed over to 100 Indian employees who could do it for significantly less, the diminishing value of the dollar combined with the strengthening of the rupee and increasing salary levels in India have wiped out the benefits of such labor arbitr
NYSE Euronext Develops Dark Pool for Crossing Portfolios
By the end of this summer, NYSE Euronext is expected to launch NYSE MatchPoint - a point-in-time benchmark crossing-network geared to large index funds and mutual funds looking to matching portfolios of stocks. The move follows the rapid proliferation of dark pools accounting for as much as 12 percent of U.S. stock trading volume according to research by the TABB Group.
ITG, Instinet Beef Up Operations in Asia
ITG and Instinet announce key executive appointments in Asia Pacific region as electronic trading heats up overseas
BATS: No More Dave E-Mails?
The question the industry has been clamoring about has been answered. "Will there be any more e-mails from Dave Cummings to BATS subscribers?" The answer is no. After corresponding with the growing BATS audience for the last two years via thought provoking, colorful and direct emails, Dave created an amazing following. His emails not only acted as a way to communicate BATS news, but he even used them as a way to share ideas he was considering for the company and even solicited advice from it's m
TABB Group's Jeromee Johnson Departs to Launch Options ATS
Jeromee Johnson, senior analyst at TABB Group, the financial markets research and advisory firm, is leaving his position this week to join 3-D Markets Inc., a software developer that is about to launch the first block crossing network for U.S. equity options.
Web 2.0: A New Port of Entry for Hackers?
If your company has leapt onto the Web 2.0 bandwagon - embracing applications like blogs, wikis and podcasts that foster increased collaboration and communication - it could be exposing its corporate networks to new attacks from hackers.
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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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