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Asset Management

06:47 AM
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Linedata Services announces Bear Stearns Asset Management implemented LongView 2000 trade-order-management system in N.Y. headquarters; Candle Corporation and Javelin Technologies Inc. announce the signing of a strategic alliance; Cap Gemini Ernst & Young announce that Michael Blum and James S. Greene have joined as vice presidents in financial-services practice.

Linedata Services announced that Bear Stearns Asset Management has implemented the LongView 2000 trade-order-management system in its N.Y. headquarters. Bear Stearns Asset Management, a long-standing LongView trading-system client, upgraded from LongView's LandMark system to LongView 2000. LongView 2000 is an integrated trade-order-management solution, including portfolio modeling/order generation, compliance, and electronic trading via the FIX protocol. Bear Stearns Asset Management currently uses LongView 2000 to manage its equity portfolios, including hedge funds. In addition, it uses the LongView FIX Gateway to pass orders to and from its in-house broker, Bear Securities, gaining efficiencies across their electronic-trading operations.

Candle Corporation, a systems-management and business-integration company, andJavelin Technologies Inc., a provider of electronic-trading technology, announced the signing of a strategic alliance to accelerate the securities industry's progress towards straight-through processing and facilitate compliance with next-day trade settlement, or T+1, regulations. The companies will deliver an STP business-services suite that integrates Javelin's Appia and Coppelia Financial Information eXchange engines with CandleNet eBusiness Platform business-services environment. The suite will support industry standards that facilitate multilateral connectivity among finance companies, as required to enable the seamless electronic exchange of securities transactions across heterogeneous network environments.

Cap Gemini Ernst & Young, an IT and management-consulting firm, announced that Michael Blum and James S. Greene have joined as vice presidents in the company's financial-services practice. Mr. Blum will assume leadership of the North America Practice. In a newly created position, Mr. Greene will be the leader for Global Transformation. Mr. Blum and Mr. Greene will both play key roles in furthering the practice's growth, globalization, and leadership goals. Additionally, Mr. Greene will join the ten-person sector leadership team chaired by Keith Stock, global director of financial services for Cap Gemini Ernst & Young.

Macgregor, a global provider of trade-order-management systems and FIX network services to institutional investors, announced that the Macgregor FIX Network is now supporting international order flow. Macgregor's institutional clients are now able to electronically transmit international orders via MFN to broker endpoints including Credit Suisse First Boston, Goldman Sachs, Morgan Stanley, Salomon Smith Barney and UBS Warburg. Macgregor clients are currently trading international equity electronically over MFN. Brokers have already seen live trading via MFN in a number of these markets (e.g. Dutch, Finnish, South African, U.K., Spanish, Italian, French, Swiss and German).

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