Content posted in February 2002
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New Direct Access Vendor Takes Aim at Clearing Industry
TRD, a new direct-access vendor, has its eye on clearing firms.
Synetix Launches Tool for Reference Data Management
Reuters Reference Data Manager consolidates data across the enterprise providing a unified view that will decrease inconsistencies and the risk of failed trades.
Financial Industry To Serve a Watchdog Role In USA PATRIOT Act
Bankers and regulators at a BAFT conference discuss the strategic issues facing the industry in the new regulatory and economic environment.
ELECTRONIC TRADING
* Nasdaq launches the Nasdaq Workstation WebLink.
* eSignal forms a partnership with MB Trading that integrates MB Trading's direct-access stock-trading system with eSignal's real-time market data and analytic/charting applications. * Michael Dawley is elected chairman of the Board of Trade Clearing Corp.
MARKET DATA
* CIBC Mellon provides service for institutional investors with Workbench capabilities.
* HyperFeed Technologies selects AT&T as its Web hosting services. * Semotus Solutions releases EMPro.
RISK MANAGEMENT TECHNOLOGY
* Prediction Dynamics launches its Crucible 1.0 financial time-series modeling platform.
* Egar Technology releases a real-time equity options trading and risk management product for market makers. * The Northern Trust Company responds to the need for monitoring and measuring risk exposure on mutual funds with Fund Peek Through.
INVESTMENT MANAGEMENT TECHNOLOGY
* ITG and Hoenig Group Inc. announce an agreement under which ITG will acquire Hoenig for approximately $115 million, or $12.34 to $12.59 per share of Hoenig.
* SS&C announces the full release and general availability of a new Equity Swaps module to its Debt & Derivatives application. * Eagle signs Oracle Corporation as a member of its Professional Services Channel Partner program.
OPERATIONS
* TASE Clearing House opens an electronic link with The DTC that will simplify cross-border settlement for shares of publicly-traded companies listed on both TASE and the U.S. stock exchanges.
* JPMorgan Investor Services announces that it is to provide trustee and custody services for its UK Unit Trust business totalling $2.8 billion. * Island Futures Exchange, LLC and The OCC announce they have signed an official clearinghouse agreement for security futures.
Fixed-Income Trading-Systems Vendor Acquires Analytics Library
Seeking to offer its clients a more robust OTC options-trading package, Aurora Software has purchased an analytics library.
ELECTRONIC TRADING
* Sonic Trading launches a direct-access-trading platform targeted at institutional-investment firms.
* Reuters hires Stephen Wilson as director of equity alliances for its investment banking and brokerage customer segment. * GL Trade names Greg Johnson its sales and marketing director for London/North Europe.
MARKET DATA
* Cantor Fitzgerald and Tullett Financial combine benchmark-swaps data onto a co-branded page.
* Thomson Financial acquires the technology assets of WorldStreet Net. * The International Securities Market Association launches isma.info.
RISK MANAGEMENT TECHNOLOGY
* BITA Plus Consultants releases its BITA Curve modular-risk-management product for fund managers.
* JPMorgan Investor Services launch third-party compliance-reporting suite. * Financial Engineering Associates sign on to be the Professional Risk Managers' International Association's first corporate sponsor.
INVESTMENT MANAGEMENT TECHNOLOGY
* Financial Fusion, Inc. announces that Smart Trade Technologies chose Financial Fusion Server to enhance "Smart-Trade.
* SunGard Investment Management Systems successfully implements SunGard's Decalog for straight-through processing. * Macgregor announces that Kevin Milne becomes executive vice president.
OPERATIONS
* JPMorgan Treasury Services becomes the first financial institution to adopt the boleroSURF product and the new bolero.net 'Connect the Community' package.
* HelioGraph announces the latest sale of its corporate-actions-processing solution, eVent. * SunGard Securities Processing announces that BB&T Corporation has gone live with InTrader.
The Chicago Mercantile Exchange Launches Real-Time-Streaming Quotes, News and Charting Service
New E-quotes service offers customizable market data, news and charts through the CME Web site.
Companies Unite To Offer 15022 Migration Service
Is migration to 15022 giving you the SWIFT-conversion blues? Does deadline of November seem like it might as well be tomorrow? Two companies have partnered to offer some help.
TradeTek to Pursue Brokers and Hedge Funds Via New Direct-Access System
This April, TradeTek plans to launch Multiple Account Manager, a new direct-access system that will be targeted at small-to-mid-size hedge funds and broker/dealers.
ELECTRONIC TRADING
* American Stock Exchange plans to roll out Syntegra-supplied turrets on its trading floor.
* Gain Capital signs deal to acquire American Traders FX. * Instinet invests $2 million in Starmine.
MARKET DATA
* The International Swaps and Derivatives Association releases a draft for Financial products Markup Language Version 3.0.
* Merrill Lynch HSBC Canada adds to its research offering with online access to market data and analysis from Morningstar Canada and Briefind.com. * Instinet invests $2 million in StarMine.
RISK MANAGEMENT TECHNOLOGY
* Kamakura names Warren Sherman managing director for client technical services and product management.
* NetRisk and Predictive Systems form a strategic alliance to deliver a combined risk management service. * Financial Engineering Associates launch a new on-line data-set service for Value-at-Risk calculations.
INVESTMENT MANAGEMENT TECHNOLOGY
* PFPC Inc. announces the use of SuRPAS grew by over 47 percent in 2001.
* At DEMO 2002 Microsoft Corp. will unveil the beta version of MSN Money Professional. * Advent announces several wealth-management firms have chosen to employ its WealthLineSM service.
OPERATIONS
* National Securities Clearing Corporation launches Fund/SPEED.
* BONY announces that it acted as tender and exchange agent for the recently completed merger between National Grid Group plc and Niagara Mohawk Holdings Inc. * Globalcustody.net reaches 25,000 organizations.
Archipelago Offers Consolidated View of Exchange, ECN and Broker Data
Archipelago has developed an information product that aggregates execution quality data from multiple market centers.
Iris Financial Converts Core Technology to J2EE
Iris Financial Systems has redeveloped its software and core technology to run on the Java 2 Platform, Enterprise Edition.
Foreign Exchange Portal Banks on Java for Trading Technology
Fxall.com, a multi-bank foreign exchange portal, was able to build its systems within seven months by relying on a Java-based technology architecture that took advantage of best-of-breed components, according to Jack Lemonik, chief technology officer speaking Tuesday at the Wall Street on Java Technology Show& Conference in New York City.
Bloomberg Tradebook Automates FIX Testing
Bloomberg Tradebook automates the onerous process of counter-party FIX testing.
Iris Financial Converts Core Technology to J2EE
Iris Financial Systems has redeveloped its software and core technology to run on the Java 2 Platform, Enterprise Edition.
Thomson to Launch Research Publishing Tool for Investment Community
Thomson's soon-to-be-released ePIB tool simplifies collecting and assembling data for Public Information Books.
INVESTMENT MANAGEMENT TECHNOLOGY
* Linedata Services announce that Glasgow-based Britannic Asset Management implements the LongView 2000 trade-order-management system.
* JPMorgan announces that it has acquired Investia's majority holding in FundsHub. * CheckFree Investment Services announced the launch of DL-Recon.
OPERATIONS
* Mercator Software, Inc., announces that the Principal Financial Group selects Mercator to provide enterprise-wide integration supporting
* BNY International Financing Corporation acquires G-Trade Services, Ltd. and other related wholly owned subsidiaries of the Credit Lyonnais SA Group. * BNY also announces that it has completed its acquisition of Autranet, Inc.
ELECTRONIC TRADING
* i-flex signs deal to work as a software development partner for the American Stock Exchange.
* Cargill Investor Services signs agreement to use front-end workstation software from patsystems. * TD Bank and BondDesk form new joint venture dubbed BondDesk Canada.
MARKET DATA
* Reuters launches an online information services for the electricity and gas sector in the European energy market.
* FinancialContent provides interactive stock-market data and tools to Zions First National Bank. * Caplin Systems appoints Chris Maityard chief financial officer.
RISK MANAGEMENT TECHNOLOGY
* Meridien Research advises financial firms to evaluate vendors when looking to contract with professional services firms to help with risk management initiatives.
* Fimat USA licenses Egar Technology's Focus system for energy and commodity trading and risk management. * Peter Golden is appointed chief technology officer at e-portals.
Selecting a Vendor -- Usually, You Get What You Pay For
Selecting a vendor based on cost alone can be dangerous.
Product Watch
The latest releases from Wall Street vendors.
Before You Leap: Understanding the Rewards and Hazards of Adding Account Aggregation Services to You
Offering account-aggregation services is not as easy as flipping a switch. Here are some things you should know about getting into the growing business.
As Wireless ASPs Struggle, Pendulum Shifts to In-House Development
Pendulum Shifts from Wireless ASPs to Inhouse Development.
Wireless Studies Reveal Path to Prosperity
New studies show that top-tier investors are most likely to adopt new wireless solutions.
IT CHALLENGE
What is the future of Linux? Does Linux have what it takes to handle mission-critical applications? Will firms give it a chance?
Separately Managed Accounts Expected to Explode
CheckFree runs the WRAP show but as the market grows, others want in.
With More Information and Sites to Run, the TSE Brings Content Management In-House
With More Information and More Sites to Run, the Toronto Stock Exchange Brings Content Management In-House with Percussion Software.
E-Bond-Trading Systems Consolidate, Two Heavyweights Emerge
A glut of overfunded, electronic-bond-trading systems that entered the fixed-income industry during the Internet boom has been consolidated down to a few strong platforms. TradeWeb and MarketAxess are two of those strong platforms. The question is: do they complement each other or are they competitors?
As Darkness Descends on Enron, Light is Shed on Collateral Management
The Enron tumble is the latest in a string of high-profile, credit-risk catastrophes that have plagued the financial-services industry. Wall Street is taking notice and discovering that collateral management is an important tool to mitigate credit risk and protect against counter-party default.
New-Issues Platform Eyes Banks, Issuers and Institutional Investors
A quartet of big-name, financial-services firms have founded i-Deal, a new-issues platform that will offer one-stop-shopping for bonds and equities via the Internet.
ECN Merger Plan: Archipelago For Listed Equities, Redi for OTC Stocks
As they await approval to merge, Archipelago and Redibook plan to use two matching engines: one for listed stocks and one for OTC stocks.
Is Best Execution Based on Size, Speed or Price?
Are participants in the U.S. stock markets more concerned about speed, price or size?
Wealth-Management Tools Target Advisers Rather than Investors
Celent Communications releases a report ranking vendors of wealth-management technology and identifying trends in that rapidly growing sector of financial services.
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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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