News & Commentary
Content posted in August 2011
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BATS Gets SEC's Nod for U.S. Primary Listings
News  |  8/31/2011  | 
Plans to launch an alternative place for I.P.O.s to the NYSE and Nasdaq, starting this December.
Guidance Software Unveils Data Mapping Service
News  |  8/31/2011  | 
The new service aims to help firms locate data and assess risks from lost data.
Why The SEC Should Finally Be Scrapped
Commentary  |  8/30/2011  | 
The SEC has been plagued for years by charges that it is an ineffective body. But the latest insider criticism levied at the watchdog should signal an end to its "loose rule" over the financial industry, some say.
Northern Trust Names New CTO
News  |  8/30/2011  | 
Scott Murray joins Northern Trust from JPMorgan Chase as part of a restructuring of Operations & Technology.
Invictus Platform Lets Hedge Funds Do Stress Tests on Banks
News  |  8/30/2011  | 
The firm said the service will give banks a clear snapshot about whether a bank is over, under or fairly valued in relation to its peers.
Northern Trust Enhances Investment Risk and Analytical Tools
News  |  8/30/2011  | 
New features include having a selection of any portfolio or index/benchmark data and combinations for any daily or monthly time period.
MICEX Launches Low Latency Market Data Service
News  |  8/30/2011  | 
Clients will obtain real time trading data — including exchange indices, the 10 best bids/offers, as well as market statistics — as a multicast stream.
Banking Jobs Could Soon Be Swept Away
News  |  8/30/2011  | 
Wall Street banks will need to radically change their operating model if they hope to survive and thrive in the coming years.
Raymond James Chooses Rapid Addition
News  |  8/30/2011  | 
The broker is using Rapid Addition's FIX technology to extend Microsoft's BizTalk middleware for TRACE reporting of mortgage-backed and asset-backed securities to FINRA.
The Keys to Hedge Fund Software Selection
News  |  8/29/2011  | 
Hedge funds must realize that one size doesn't fit all when selecting a business-critical system.
To a Quiet and Productive Fall for Wall Street
Commentary  |  8/29/2011  | 
As children return to school this fall, I doubt many people (on Wall Street, anyway) will miss this summer.
The Buy-Side Drags Its Feet On Regulatory-Driven Investments
News  |  8/29/2011  | 
With regulators missing Dodd-Frank rulemaking deadlines, the struggling capital markets sector is in no rush to make costly infrastructure and software investments needed for compliance.
Job Cuts: Wall Street's Cruel Summer
News  |  8/29/2011  | 
The banks may be posting decent (if mildly disappointing) profits, but they're aggressively slashing job rolls to rein in costs.
Post-Irene, Wall Streeters Figure They Might As Well Just Stay Home
Commentary  |  8/29/2011  | 
Despite Irene causing less damage than expected, many Wall Streeters have decided to stay home. In any case, they are not strictly needed.
DTCC Confirms Normal Operations
News  |  8/29/2011  | 
Despite the impact of Hurricane Irene on the east coast, DTCC said deadlines for clearing fund, settlement and other processes will be as usual, except for certificate-based services.
Wall Street Back to Work
News  |  8/29/2011  | 
NYSE Gears Up for Hurricane Irene
Commentary  |  8/26/2011  | 
With hurricane Irene threatening to strike New York City on Sunday, the U.S. stock exchange has contingency plans, but still plans to open on Monday.
Confessions of a Hacker
News  |  8/26/2011  | 
Renowned hacker Kevin Mitnick's career began when he started exploiting telephone vulnerabilities.
Crisis, Lag, Rebound -- Our Economic Cycle
Commentary  |  8/25/2011  | 
The recovery that followed the financial crisis and subsequent recession that began in 2008 barely had taken hold before the European debt crisis and the political train wreck over the U.S. debt ceiling derailed any hope for a widespread recovery.
Buy-Side Firm Survey: Life on Wall Street in 2011
News  |  8/25/2011  | 
Wall Street has seen unprecedented upheaval and change since the financial collapse of 2008. To find out how the buy side is coping, Advanced Trading surveyed a sample of buy-side firms about their trading practices, IT strategies and compliance plans.
Facing Commission Squeeze, Traders Decrease Electronic Trading
News  |  8/25/2011  | 
In a setback for electronic trading, buy-side firms are increasing their use of high-touch sales traders in order to pay their research bills.
Dark Pools Don't See Bright Future in Canada
News  |  8/25/2011  | 
Despite several dark pool launches north of the border this year, growth of the sector in Canada could be impeded by stiff regulation and a well-entrenched 'upstairs market.'
Princeton Financial Systems Announces Swiss Private Bank Client
News  |  8/25/2011  | 
Princeton's DVS Fund Warehouse automates the collation of all information originating from diverse sources, including portfolio management and various market data systems.
Reacting to Steve Jobs Departure: An Amazing Ride
Commentary  |  8/25/2011  | 
Pundits are speculating on Apples' future under new CEO Tim Cook, and whether Apple can continue the steady stream of hit products.
Investment Bankers Disappointed With Pay. Really?
Commentary  |  8/25/2011  | 
Almost 60% of young bankers said they'd like to move to a different field.
Insider Trading On Regulators' Radar
Commentary  |  8/25/2011  | 
Regulators are on the prowl for suspicious trading. Hedge funds ignore surveillance and monitoring systems at their own peril.
NorthPoint Integates OMS with ICE Link
News  |  8/24/2011  | 
Asset managers can automatically send their CDS trades via NorthPoint's OMS to ICE Link for affirmation.
ING CTO Named Chair of Enterprise Cloud Leadership Council
News  |  8/24/2011  | 
Tony Kerrison, ING's CTO, succeeds Sean Kelley, the former ECLC chairman who recently left Deutsche Asset Management.
Worried About Your Wall Street Job? At Least You're Not In Europe
Commentary  |  8/24/2011  | 
Less than a couple of months ago, reports suggested that the job situation in the UK was looking decidedly rosier than in the U.S. But a couple of months in the banking industry are almost like dog years.
Large Trader Rule May Bring Confidence Back to the Marketplace
Commentary  |  8/24/2011  | 
We at Woodbine Associates believe the rule is appropriate and well intentioned, and that concerns regarding it are overblown.
Santiago Stock Exchange Revamps IT for Latin America's Integrated Market
News  |  8/24/2011  | 
In a Q&A with Wall Street & Technology, Andres Araya Falcone, CIO of Bolsas de Comercio de Santiago (BCS), explains how Chile's exchange is preparing for low latency trading and surging messaging rates.
ConvergEx Names Head of Asia Pacific Transition Mgt.
News  |  8/24/2011  | 
Jim Karelas joined ConvergEx from JP Morgan in Sydney.
UNX Announces Two Buy-Side Clients for Catalyst EMS
News  |  8/23/2011  | 
Both asset managers, Everett Capital Management and Bradley & Company, are utilizing Catalyst's custom plug-ins for electronic equities trading.
Coming Soon, iPad 3: Here's What It Could Look Like
Commentary  |  8/23/2011  | 
It's been just a few months since Apple released iPad 2, but it is already actively prepping its next-gen tablet for release in early 2012.
BNY Mellon to Clear Interest Rate Swaps Via CME Group
News  |  8/23/2011  | 
Bank of New York Mellon announced its clearing arm will clear over-the-counter interest rate swaps through CME Group, an arrangement the firm said it made on behalf of its institutional clients.
Mexican Broker Implements FIX Flyer
News  |  8/23/2011  | 
Actinver Grupo Financiero is using Fix Flyer's engine for routing client orders to the Bolsa Mexicana de Valores as well as Daytona Monitoring to measure latency of FIX sessions with all counterparties.
Xtrakter Is Reporting Derivatives Data to FSA
News  |  8/23/2011  | 
In compliance with MiFID, XTrakter enables clients to use the Alternative Identifier (Aii) for derivatives transactions reported to regulated markets by Nov.13, 2011.
A Decade of Destruction and Rebirth
Commentary  |  8/22/2011  | 
The past decade has been tough, but we need to be optimistic and view it for the success it has brought and the opportunity it will bring.
Technology Economics: The Cost of Data
News  |  8/22/2011  | 
92 percent of the cost of business -- the financial services business -- is "data."
GlobeOp Launches Form PF Reporting Service For Hedge Funds Ahead of SEC deadline
News  |  8/22/2011  | 
The first SEC deadline for private fund (Form PF) reporting currently less than six months away.
Instinet Sets Trading Record in Asia
News  |  8/22/2011  | 
The firm cites uage of its Nighthawk liquidity aggregation algorithm to execute across 17 destinations in Asia.
Going Long: Former NFLer Tackles Wall Street
News  |  8/22/2011  | 
Former NFL cornerback Eugene Profit has grown his firm, Profit Asset Management, from a $100,000 start-up into a multi-billion dollar asset manager boasting a wide range of institutional clients.
Three Steps You Need To Take To Tame The Data Dragon
Commentary  |  8/22/2011  | 
As the data dragon continues to grow, there is a pressing need for organizations to begin to use analytics to better manage their data, write Srinivas Prabhala and Sastry K.V.S.N of Infosys.
Hedge Fund Investors Show Signs of Confidence
Commentary  |  8/19/2011  | 
Fund administrator GlobeOp reports that its indicator of forward redemption notices is at the lowest point since November 2008.
Fincad Forms Counsel of Advisors
News  |  8/19/2011  | 
The counsel will provide the derivatives software company with guidance on corporate strategy, product direction and market positioning.
African Fund of Funds Could Provide a Safe Haven for Investors: Study
News  |  8/19/2011  | 
A study by PerTrac and HedgeNews Africa contends that African Fund of Funds could provide a safe haven for investors in an increasingly volatile landscape.
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