BNY acquires Sonic Financial Technologies to beef up direct-access; E*Trade targets direct access with hook up to Orc ExNet network; rketAxess to launch Treasury bond-trading service via ICAP BrokerTec;Tradeware Buys B2B and Omiris Neworks to expand into cross-border trading and settlement.
DRW chooses Future Dynamics to manage clearing exposure; GEM and Systemwire build derivatives trade-matching platform; ADP introduces intra-day margin tool.
Caplin and Instinet team up to distribute Reuters' data; FTI releases StreetConsolidator; Barclays Capital offers U.S. Treasuries, TIPS and STRIPS over Bloomberg Professional.
Investment Technology Newsflashes
Charles River Development and FXall offer FIX message-based FX-workflow solution; State of Wisconsin Investment Board opts for Eagle Investment Systems; PeopleSoft offers Enterprise Wealth Management.
NYSE: Fast Market or No Market?
If the NYSE becomes more electronic, its owners (the specialists and floor brokers) will be disadvantaged, and possibly jobless.
NYSE Taps Pastina for Trading Floor; Futures Pro Joins Hotspot FXi; Merrill's Bottega Moves to CSFB; People on the Move.
Infrastructure Instructions; Counting Credit; Mending Breakpoints
IT Challenge: Settlement
The Challenge: For financial services firms, moving away from batch processing is still a challenge. The DTCC's new inventory-management system offers delivery flexibility and helps firms find efficiencies and increase automation in the settlement process.
Outsourcing Case Study
JPMorgan Finds Operational Efficiencies
Glasgow-based European Technology Centre paves way for worldwide sourcing model.
It’s a Family Affair
If you think your family tree is confusing, check out the data hierarchies being built in Wall Street's data departments.
New Kids on the Block
Two new players are offering block-execution systems to buy-side institutions. Can they succeed in a crowded field?
If You Build It, Will They Come?
As wealth managers battle for assets, CIOs are increasingly turning to outside vendors to build best-of-breed technology solutions.
Viewing SOX Holistically
It's a good thing that the Sarbanes-Oxley Section 404 deadline has been extended, as many on Wall Street weren't quite ready for the June 15 mandate.
Believe it or not, three out of four adults have heard of Voice-over-Internet-Protocol [VoIP] technology, according to a recent survey sponsored by AT&T.
Scots Accent Favored for Call Centers
If you're a British financial-services customer contacting a call center, you're likely to be happier if the person answering the phone has a Scottish accent
Integration Is Key
Integration was raised again and again as one of the largest obstacles to creating the perfect broker-workstation environment.
SunGard launches Exception Manager for investment firms; XcitekConsultingServices examines mutual-fund breakpoints; Eze Castle Software announces Destination Station for FIX trading.
Thomson Financial adds aftermarket research data from J.P. Morgan Securities; Informatica supports IBM Compliance with its data-integration platform; Denmark Bank implements Reuters Market Data System.
BNG picks Front Arena for consolidating fixed-income and derivatives; IBM pitches tech package at $4 billion Basel II market.
Clearing systems ready for March 26 launch of CBOE Futures Exchange; Reuters acquires remainder of ICor Brokerage Ltd.; ITG implements Triton with TimesTen data-management technology; Nasdaq launches integrated platform for NYSE-listed and Nasdaq stocks.
An Interview with Nasdaq’s Christopher Concannon
If Christopher Concannon were a linguist, then market structure would be his language. As executive vice president of transaction services for the Nasdaq stock market, Concannon is responsible for the management and operation of Nasdaq's transaction platforms, including SuperMontage, its automatic-execution system.
Trema launches NAV Monitor; UBS Wealth Management Australia implements Sanchez Portfolio; Northstar updates enterprise-advisery platform.
Franklin Templeton Investments will implement StreetReference; Cantor Market Data and Tradition extend swaps-data service; Northern Group Treasury upgrades Moneyline Telerate workstation.
Four firms go live with DTCC's credit-default swaps-matching service; SuperDerivatives signs up 10 German and Austrian banks; Central banks draft report on managing risk in CCPs; SunGard unveils Adaptive framework.
OM acquires stake in U.K. back-office outsourcing provider; State Street buys the rest of Elkins/McSherry; TransactTools scales to meet explosive growth in ArcaEx FIX message volume; Lava releases market making for listed-trading to coincide with SuperMontage offering.
Standard Life Investments chooses Charles River; State Street becomes shareholder in E-Crossnet; ABN AMRO Netherlands selects Odyssey for portfolio management.
Hotspot FX delivers data from MNI; BNY and Wachovia sign on with OpVantage for operational-risk data.
Mantas advocates creation of anti-money-laundering standard; WestLB licenses Principal System for structured investment vehicle; SuperDerivatives launches FX-options risk-management system.
Globex Learning Center picks FFastFill's training-to-trade software; SunGard Futures launches processing ASP Services in Germany and Central Europe; Archipelago files to raise $150 million in IPO; Fortis Bank selects Radianz for buy-side connectivity.
Leman Leaves Citigroup
Citigroup's global corporate and investment banking business is saying goodbye to Jim Leman after 22 years of service.
Foreign exchange is taking a front seat at FIX Protocol Ltd, where Steven Donovan and Jack Lemonik have been named co-chairs of the FIX Foreign Exchange Working Group.
Barring Bad Credit
Credit-risk identification is the goal of Berkeley, Calif.-based Barra's new Barra Credit product.
InfoStep Stands Up to Sox
Still stumped by Sarbanes Oxley? InfoStep, has released eLustroHarmony, a risk-management and compliance tool to help get firms on track with SOX.
IT Challenge: Spam
The Challenge: Junk e-mail is becoming a big problem, as spammers clog inboxes with dubious offerings from weight-loss remedies to cheap Viagra.
Putting an End to the Spend
Having a fail-proof disaster-recovery plan is important, but so is a cost-conscious budget. Can financial-services firms have both?