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News & Commentary
Content tagged with Trading Technology posted in September 2007
Credit Derivatives Grew to $45 Trillion Just Before the Crunch
News  |  9/28/2007  | 
Just prior to the credit crisis, the volume of credit derivatives shot up 32% during the first half of this year, according to a report released this week by the International Swaps and Derivatives Association. The notional amount outstanding of credit derivatives grew by 32% in the first six months of this year to $45 trillion from $34 trillion, according to ISDA's mid-year survey of privately negotiated derivatives. (The group received responses from 88 firms,
Despite Delay, Project Turquoise Appoints Board
News  |  9/26/2007  | 
Despite the delay until 2008, Project Turquoise, the bank consortium-backed European equities trading platform, has appointed a board to oversee the platform.
TradeTech West: Algos Inside Out
News  |  9/26/2007  | 
How exactly are buy side traders using algorithms? That was the question posed to a panel at the TradeTech West conference taking place in San Francisco this week.
Turner Investment Appoints Peter Yarrow To Grow Operations Abroad
News  |  9/26/2007  | 
Turner Investment Partners recently hired Peter Yarrow to grow the company's business in the U.K., Continental Europe and the Middle East.
Tips For Safely Navigating Facebook
News  |  9/25/2007  | 
There are ways employees can use social networking sites such as Facebook more safely, says Graham Cluley, senior technology consultant at security firm Sophos.
Financial Services Firms Ban Facebook
News  |  9/25/2007  | 
According to a survey of 600 global companies carried out by security firm Sophos, 50 percent of companies ban their employees from accessing Facebook.
Merrill Lynch’s Lehrman Named Head of Global Credit Trading Technology
News  |  9/24/2007  | 
As global head of credit trading technology at Merrill Lynch, Ira Lehrman will head up daily technology operations, as well as drive tech strategy for the group.
CAPIS Shifts OMS to Fidessa Trading Platform
News  |  9/24/2007  | 
Capital Institutional Services (CAPIS), the global agency brokerage firm based in Dallas, said it's moving to the Fidessa trading platform as a replacement for its proprietary order management system. "Technology wise it's probably the most important decision we made in our 30-year old firm," says Jim Morrow, COO at CAPIS in an interview on Friday.
Sub-Prime Loans and CDOs Have Helped Create the Perfect Storm
Commentary  |  9/24/2007  | 
Sub-prime loans, predatory lending, collateralized debt obligations (CDOs) and a legitimate real-estate market collapse have shaken the foundation of the U.S. economy.
Rosenblatt Securities Taps Jay Indovino
News  |  9/24/2007  | 
As a managing director at Rosenblatt Securities, Indovino will focus on helping Rosenblatt grow its client base, as well as tapping into business development opportunities and connecting the firm with new technology platforms.
Omgeo Board Adds Michael Bodson
News  |  9/24/2007  | 
Michael C. Bodson, executive managing director for business management, strategy and marketing for The Depository Trust & Clearing Corp. (DTCC) has replaced Jill M. Considine on Omgeo's board of managers.
Large U.S. Firms Getting Better at Managing Risk, But Can Still Improve
News  |  9/24/2007  | 
2007 Protiviti U.S. Risk Barometer study found that 53 percent of respondents rated their firms as very effective at managing risk, a 15 percent rise compared to last year.
Globalization Regulations Must Be Changed, CEOs State In NYSE Survey
News  |  9/24/2007  | 
Ninety-four percent of U.S. CEOs and 79 percent of non-U.S. CEOs believe changes to the American legal system to lower litigation risks would increase the competitiveness of U.S. capital markets.
Traditional Brokerages Must Embrace Web 2.0, Gartner Says
News  |  9/24/2007  | 
New Internet brokerages target niche markets looking for specific functionality and services rather than attempting to compete with large firms for the mass market.
Study Shows Most Enterprises Lack a Strategic Security Vendor
News  |  9/24/2007  | 
Nearly all (90 percent) plan to invest more in security solutions in the next 12 to 18 months, according to research firm Nemertes Research.
Market for Global Portfolio Systems to Reach $2.67 billion by 2010
News  |  9/24/2007  | 
Hedge fund growth, the need for risk controls and the increasing use of derivative instruments across a broader population of investment managers are driving the global portfolio systems market, according to a new report from Aite Group.
How Soon Will Wall Street Adopt Quad-Core?
News  |  9/24/2007  | 
How quickly will capital markets firms deploy Intel's and AMD's new quad-core processors? We asked a few industry experts and got varied answers. Gartner analyst John Enck believes most firms will follow their usual server replacement schedule (typically three years after purchase). "The change in performance, even for those optimized applications, just isn't dramatic enough for them to go through the pain and the manpower it takes to swap out an existing on-the-floor server that's still under w
Credit Suisse Appoints New Liquidity Head
News  |  9/21/2007  | 
Dmitri Galiametdinov has joined Credit Suisse's Advanced Execution Services group as Director and Head of Liquidity Strategy.
Misys’s Summit FT V5.2 Provides Advanced Credit Derivatives Solution for Banks, Asset Managers
News  |  9/20/2007  | 
Summit FT V5.2 enables banks and asset managers to scale up and meet evolving market demands in both complexity and volume.
STAC High Performance Testing Lab Sets Up Benchmark Council
News  |  9/19/2007  | 
The Securities Technology Analysis Center (STAC) announced on Monday that it has formed a Benchmark Council devoted to the creation and management of benchmark standards for trading technology. Eight Wall Street firms, including Citigroup, JP Morgan Chase, and HSBC, are among the charter members.
U.S. Algorithm Spending Slows
News  |  9/19/2007  | 
Algo spending hits a plateau in the U.S., but more-sophisticated offerings are on the horizon.
RealTick Adds Thomas Weisel Execution Services Offerings
News  |  9/18/2007  | 
Townsend Analytics announced it has added Thomas Weisel Partners' Weisel Execution Services' (WES) proprietary algorithms and equities execution services through its RealTick execution management system.
FX Bridge Taps FIX Flyer for High Speed Integration
News  |  9/18/2007  | 
As the adoption of the FIX fuels electronic trading in foreign exchange and expands into new areas such as FX options, banks are demanding integration with back office and risk management technology. Today, FX Bridge, an Atlanta-based FX dealing system, which specializes in FX options, announced that it's partnering with New York-based FIX Flyer to integrate the FIX messaging standard into its solution.
New Website for Gen X and Gen Y Investors Offers the Wisdom of Crowds
News  |  9/18/2007  | 
A new investing/social networking website for Generation X (people who are roughly 30-40 years old) and Generation Y (19-to-30-year-olds) is going live today called Cake Financial. "The word 'cake' is slang for money and it also means 'easy,'" explains founder and CEO Steven Carpenter. The site will screen-scrape a customer's investment information from any and all of his existing brokerage accounts, provide an aggregated view of historical transactions
News from the High Performance on Wall Street Show
News  |  9/17/2007  | 
The ongoing slugfest between providers of high-performance computing solutions was evident at the High Performance on Wall Street show today at the Roosevelt Hotel. All the major vendors of CPUs, GPUs, FPGAs, server grid software, data grid software and other high performance hardware and software are here, providing updates on their solutions and gently dissing the competition. As slugfests go, this is an amiable one and many of these companies are actually working together in pairs and groups
Oracle Delivers Coherence 3.3
News  |  9/17/2007  | 
Solution enables firms to push data closer to applications for faster access and greater resource utilization, Oracle claims.
Techrigy SM2 Helps Companies Monitor The Blogosphere
News  |  9/17/2007  | 
The SM2 is targeted at organizations that want to scour blogs and wikis on the Web for mentions of their companies, partners and competitors to mitigate reputational damage and potential legal liabilities.
Photo Gallery: Savvis Data Center Offers Connectivity to Exchanges Worldwide
News  |  9/17/2007  | 
Savvis, a provider of utility-hosted data center services, has a data center close to Manhattan that offers connectivity to market data from more than 100 exchanges worldwide.
Can Financial Models Prevent CDO Problems?
News  |  9/17/2007  | 
Could better use of modeling technology prevent fund managers from investing in too-risky credit derivatives?
Glenmede Trust Company Streamlines With Imprivata SSO Solution
News  |  9/17/2007  | 
Deploying a single sign-on solution streamlines Glenmede's operations and eliminates a mushrooming security risk.
Morgan Stanley's Global Wealth Technology Turnaround
News  |  9/17/2007  | 
A new network, a services-oriented architecture, and new portals for salespeople, financial advisors and customers have produced dramatic results for Morgan Stanley's Global Wealth Management Group.
Online Security Attacks Against Financial Institutions Rapidly Increasing
News  |  9/17/2007  | 
As hacking increases, experts say firms must use a blend of multifactor authentication, risk analysis and people to protect themselves.
Cisco Eases the Upgrade to Infiniband for Market Data Feeds
News  |  9/17/2007  | 
There's no question switching from a one gigabit Ethernet network to Infiniband can dramatically improve the speed of multicasting -- sending market data from feed handlers to multiple trading desks. Several tests conducted over the past year by the Securities Technology Analysis Center have proven this. Faster multicasting leads to improved ability to conduct algorithmic trading and better compliance with Reg NMS and MiFID. The question is, how do you m
Where Oh Where Has The Order Flow Gone?
News  |  9/12/2007  | 
Order flow is dissappearing, according to attendees at a recent Advanced Trading Roundtable.
Audentes Technology Deploys Orc Liquidator
News  |  9/12/2007  | 
As black box trading takes off, Audentes Technology LLC, a small Chicago-based proprietary trading firm, has deployed Orc Liquidator from Orc Software as its derivatives algorithmic trading platform. Audentes declined to comment, in a statement, Libby Christy, operations manager for Audentes Technology, said the firm was impressed by Orc Liquidator's fast time-to-market, low latency, and connectivity to a large number of markets."
Do You Need An Execution Management System Or Will The Order Management System Suffice?
News  |  9/11/2007  | 
With advances in electronic trading changing the demands on traders' desktops, many buy-side traders are trying to determine the best route to the ideal trading workstation. Do they need an execution management system or will their order management systems do the job?
Cross Asset Trading Heats Up
News  |  9/11/2007  | 
Alpha-seeking firms increasingly are looking to cross-asset trading and multi-asset platforms to improve performance.
BGC/Cantor Fitzgerald Remembers 9/11 With A Star-Studded Charity Event
News  |  9/11/2007  | 
BGC, a voice brokerage arm of Cantor Fitzgerald, is holding its third annual charity telethon of sorts today to commemorate September 11. Customers who call in to Cantor's downtown BGC trading floor today may get their orders placed by Yogi Berra, Whoopi Goldberg, Dr. Ruth Westheimer, Eli Wallach or any of the other celebrities visiting the trading floor. (Each celebrity was brought in by one of the 40 charities participating, which will receive the firm's trading profits for the day.) "Septemb
The Boston Equity Exchange (BEX) Calls It Quits
Commentary  |  9/11/2007  | 
The Boston Equities Exchange (BEX) became the first regional exchange to throw in the towel, but the Boston Stock Exchange (BSX) isn't down for the count, says Special Contributing Editor Larry Tabb.
Instinet Adds Direct Access to Three Broker Algos
News  |  9/10/2007  | 
Users of Instinet's Newport and Instinet Trading Portal execution management systems (EMSs) can now directly access Bank of America, Credit Suisse and Goldman Sachs algorithms.
Intel Says Its New Processor Will Improve Data Center Performance 3X
News  |  9/7/2007  | 
The new quad-core Xeon 7300 processor Intel announced yesterday should provide twice the application performance of its dual-core server chips, according to Rick Jacobsen in Intel's financial services industry marketing group. With the use of virtualization, applications should run two-and-a-half times faster than they do today on 7300-powered servers, and the new chip offers three times the performance per watt, which should translate into data centers that are three times as efficient as they
Better Credit Model with Supercomputing
News  |  9/6/2007  | 
Hedge funds that suffered heavy losses in debt securities tied to sub-prime mortgages, missed the fundamentals but they could also blame their credit models for not detecting the impact of late payments and delinquencies. It's not surprising that there are shortcomings to modeling credit risk of illiquid debt instruments, according to Peter Cotton, CEO ofJulius Finance, a private research firm and development shop in New York.
Buy Side Firms Expected to Keep Hiring Research Analysts
News  |  9/4/2007  | 
Buy-side firms will increase their spending on internal research by 28.8% over the next few years, from $5.8 billion in 2006 to $7.4 billion in 2011, according to analysts at Integrity Research Associates in New York City, who released a forecast yesterday. The firm believes the buy side will continue hiring more equity analysts due to the decrease in sell-side research and what the analysts say is a decline in its perceived value.

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