Content posted in September 2002
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Future All-Electronic Markets: BOX a Definite, Eurex Investigating
The Boston Options Exchange (BOX), a fully-automated options market jointly owned by the Boston Stock Exchange (BSE), the Bourse de Montreal and Interactive Brokers (IB), expects to make its debut next year.
Wealth Management Conference Highlights Challenges
Wealth-management technologies took center stage at a recent Wall Street & Technology conference where industry executives talked about bringing a higher level of advice and customization to the newly emerging mass affluent.
As Single-Stock Futures Draw Closer, Diversification Has Become a Key Theme
Single-stock futures exchanges, such as OneChicago and NQLX, will soon make their debut, providing an opportunity for options markets to diversify their product portfolio.
Egar Launches Egar One Integrated Trading and Risk Management Suite for Equity Options
Egar Technologies launch its Egar One suite of applications, data and services for equity-derivatives trading and risk management.
Financial Advisor Desktop Dilemmas
As if developing a desktop to satisfy the complex needs of financial advisors wasn't challenging enough, there's the vast array of advisor-business models to support.
ELECTRONIC TRADING
* OneChicago is scheduled for launch on Oct. 25 -- pending regulatory approvals.
* The ISE launches ISEline -- a Web-based instant-messaging system that provides direct, real-time between various ISE market participants. * SIS Swiss Financial Services Group signs networking agreement with Radianz.
MARKET DATA
* Edgar Online and Universal Business Matrix team up to develop a global XBRL data exchange and repository for company-financial information.
* SunGard Availability Services launches its SunGard Global Network. * Banco Bilbao Vizcaya and Argentaria selects Asset Control for its integration infrastructure for management of investment pricing and reference data.
RISK-MANAGEMENT TECHNOLOGY
* SAS releases a suite of solutions for enterprise-wide-risk management.
* COR Risk Solutions launches its BITA Jigsaw range of component software. * The SIA will be holding its Business-Continuity Planning Conference and Exhibition October 29-30 at the New York Marriott Brooklyn in Brooklyn, New York.
INVESTMENT-MANAGEMENT TECHNOLOGY
* SWIFT purchases its FIX Simulator for testing the SWIFTNet-FIX-pilot service.
* HedgeWorld Markets USA, Inc. announce the availability of its HedgeWorld Markets hedge-fund marketplace. * netDecide Corporation announces the latest release of its software.
OPERATIONS
* Fundtech Ltd. announces that 12 of its PAYplus-for-CLS customers go "live" with the solution, enabling them to use the CLS System for foreign-exchange settlement.
* SEB selects PAYplus-for-CLS solution. * UBS Global Asset Management Ltd selects OM to provide a new corporate-actions-workflow solution.
NASD: FIX-Enabled ADF on Horizon
Responding to the requests of ECNs, the NASD is building a FIX interface to its Alternative Display.
Bear Stearns Licenses DerivaTech for Exotic FX Options Risk Management
Bear, Stearns & Co. licenses DerivaTech FX Risk Management Platform to support its growing Exotic FX Options and Structured Products Business.
CSC Perspective: Delivering Value through Business Process and Data
The industry needs to focus on more effective straight-through processing before it is in a position to fully evaluate the conversion from T+3 to T+1.
ELECTRONIC TRADING
* Barclays Capital rolls out OpenLink's Endur system in support of its commodities group.
* Instinet reports that seventeen new clients recently went live with Newport -- a direct-access trading system. * Nyfix names Mark Hahn its chief financial officer.
MARKET DATA
* Reuters appoints Greg Meekings as CIO to head all internal business systems and administration.
* Tullett Financial Information launches its SwapMarkerNorthAmerica on Bloomberg. * The Relegence Corporation teams up with Dow Jones Newswires to distribute real-time Dow Jones news.
RISK-MANAGEMENT TECHNOLOGY
* Reuters appoints Greg Meekings as CIO to head all internal business systems and administration.
* Tullett Financial Information launches its SwapMarkerNorthAmerica on Bloomberg. * The Relegence Corporation teams up with Dow Jones Newswires to distribute real-time Dow Jones news.
OPERATIONS
* Wilco connects its institutional and retail transaction processing systems.
* Skandia Selects SolutionForge's FIX.NET Server 2002 for Automated Link to EMX. * Wall Street & Technology is holding a Drilling Down on STP conference on November 20 at the Roosevelt Hotel in NYC.
Oregon Treasury Changes Tech For Better Reporting
Oregon State Treasury decided that a data-warehouse approach was the best way to get clients the reports they wanted.
SAP Introduces Basel II Solution-in-Progress
New functionality added to the mySAP solution to help financial institutions meet Basel II requirements.
ELECTRONIC TRADING
* OneChicago publishes its rulebook on its Web site -- www.onechicago.com.
* Andre Roelants is appointed to the executive board of the Deutsche Borse. * The Securities and Exchange Commission revokes MarketXT's status as an electronic-communications network.
MARKET DATA
* UBS implements Vignette's Web content management software to build its myUBS personalized customer information portal and company intranet.
* The Deutsche Borse introduces an analysis tool for investors to measure trading strategies against the market as a whole. * JCV Investment Systems launches its Triarch Pricing Engine.
RISK-MANAGEMENT TECHNOLOGY
* ABN Amro North America extends its implementation of SunGard Trading and Risk Systems' BancWare product to include funds transfer pricing and data management.
* Bayerische Landesbank selects Algorithmics' Algo Collateral solution to manage all of its current and future cross product margining requirements.
* Financial Engineering Associates opens a new London office to better service its European client base.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Europe's $3.5 trillion mutual-fund industry will expand at a CAGR of about 14 percent per annum between years-end 2002 and 2006 according to research included in the inaugural issue of CA Global Update, slated for publication this month.
OPERATIONS
* Monday's official launch GSTP TFM followed the completion of parallel-run testing.
* webMethods, Inc. partner with Omgeo to give greater flexibility and ease of use for securities firms implementing trade-management solutions for STP initiatives. * Schroders Private Bank purchases a number of the CityNet Treasury and Securities modules (CARS & TIPS) in their drive for STP.
Breaking News: Island Shuns ADF, Weighs Quote Options
The Island ECN has voted against participating in the ADF, and is now considering alternative venues -- including the Cincinnati Stock Exchange -- for posting its Nasdaq quotes.
Breaking News: Instinet Sends ADF Certification to SEC; SuperMontage Launch Now Set for Oct. 14
Instinet has agreed to participate in the ADF, pushing back the rollout of Nasdaq's SuperMontage to Oct. 14.
Have You Been Overcharged?
Bloomberg has reportedly been overcharging customers for sales and use taxes on information services in as many as 40 states.
NEWSMAKERS
Antonellis Appointed State Street CIO; Blanc Named CEO of Fimat Group; Reeve Joins Citisoft as Senior Consultant.
PRODUCT WATCH
EMC Releases New Storage Platform; Flextrade Introduces Deepfeed; Business Logic and Yodlee Join Forces.
Electronic-Records Retention: Managing Messaging Technology is IT’s Problem
In a post-Enron world, properly retaining electronic communications is more important than ever.
Tradebook Says No to SEC Request for ADF Certification
Citing time restraints, Bloomberg Tradebook has decided not to send the SEC a letter certifying that it will participate in the ADF -- a commission-mandated alternative to Nasdaq's SuperMontage platform.
Buy Side Sees Room For Sell-Side Improvement
A recent study indicates ways the sell side can leverage technology to ensnare more buy-side business.
Thomson Launches Web-based Research
Thomson Financial launches Thomson Research, a Web-based application for research.
ELECTRONIC TRADING
* The International Securities Exchange uses Aegis Software's Client Simulator to test its FIX-driven order-routing system.
* Electronic fixed-income platforms fell from more than 70 in 2000 to roughly 40 by the end of 2001. * MarketAxess adds Barclays PLC as a participating dealer.
MARKET DATA
* Investthink and Bang Networks offer a combined platform for real-time information distribution across enterprises.
* MarketWatch.com expands its licensing product lines to provide its CBS MarketWatch news. * Software AG and Active Data Exchange provide content distribution management solutions across multiple enterprises.
RISK-MANAGEMENT TECHNOLOGY
* UBS PaineWebber selects Searchspace's Anti-Money Laundering software to meet new USA Patriot Acts requirements.
* The SIA releases guidelines for business-continuity planning. * RiskMetrics and Adhesion Technologies jointly market a wealth management solution.
INVESTMENT MANAGEMENT TECHNOLOGY
* FPL announces it is now in possession of the fixprotocol.com URL following a hand-over organized by the FIX engine vendor, Cameron Systems.
* Investment Technology Group, Inc. announces the acquisition of Hoenig Group Inc.
* CheckFree Investment Services unveils www.SMAForum.com.
OPERATIONS
* CEC and SIAC announce an agreement to build the new SFTI.
* FNX delivers the latest release of its flagship Sierra Solution to CIS in Chicago.
* Standard Life Investments and Delaware International buy EasyISO solution for integration to the Swift network.
A Conversation with OneChicago’s William Rainer
William Rainer, chairman and CEO OneChicago, gives his views on the soon-to-be-launched single-stock futures exchange.
IT CHALLENGE
IT managers talk about the difficulties of cutting costs in the current economic climate.
Clearing Firms Support Wireless Apps in Tough Market
Staying the course, clearing firms continue to offer wireless applications to correspondent brokers.
Omgeo and the GSTPA Enter Critical Phase
Omgeo has its first Investment manager live on CTM, while the GSTPA was slated to go live Sept. 9.
SIA To Issue STP Goals
The SIA will replace the T+1 project with STP goals at its October meeting.
Linedata Back On Track With LongView
LongView, now under a more stable parent, is battling for clients in the tough trade-order-management space.
Market-Data Briefs
Chicago Mercantile Exchange now offers CME E-history; Morningstar launches a new module on its Morningstar DataLab Internet-based investment-research platform; Eurex Bonds offers users real-time trading data and indices.
Are Remote-Data Centers on the Horizon?
Securities firms are investigating whether it makes sense to build remote-data centers outside of the tri-state area.
XBRL Hits the Street to Streamline Business Reporting
Nasdaq and PricewaterhouseCoopers team up to launch an XBRL-pilot program.
JPMorgan Takes Web Services to Risk Management and Beyond
JPMorgan puts Web services into action for risk management and more.
New Block-Trading System Combines Automation with the Human Touch
Thomson Financial, Jefferies and a group of investors have launched a hybrid block-trading system that combines automation with human intervention.
Financial Institutions Get Serious About Security
With financial-services firms doing ever more business over the Internet, security has become a major concern.
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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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