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News & Commentary
Content tagged with Trading Technology posted in February 2008
Ineffective Access Management Poses Risk to Businesses
News  |  2/25/2008  | 
Employees have too much access to information, according to a new Ponemon survey.
Most U.S. Wealth Management Clients Apathetic or Downright Unhappy
News  |  2/25/2008  | 
IBM surveyed 1,300 U.S. wealth management clients and found 57% are either apathetic or antagonistic toward their advisory firm
Tips & Tricks for Building Composites
News  |  2/21/2008  | 
Avoid having too many composites by focusing on the firm's primary mandates. If there are a lot of unique accounts left over without a composite, you can create single-account composites or expand your firm's definition of discretion.
Twelve Steps to an Effective GIPS Compliance Program
News  |  2/21/2008  | 
There are several things financial firms can do to develop an effective Global Investment Performance Standard (GIPS) program.
Markit, Six Investment Banks To Launch Derivatives Pricing Platform
News  |  2/21/2008  | 
In the wake of the subprime mortgage crisis and subsequent plummeting in value of mortgage-related derivatives such as CDOs, which in turn has generated a crop of unhappy investors, lawsuits and regulatory concern around improperly sold and priced derivatives, it's no wonder that companies that offer help in determining the value of derivatives contracts are coming out with new products. While many (Numerix, Maplesoft, Quantify) offer pre-built mathematical models for calculating the theoretical
Wall Street Changes Are Visible
Commentary  |  2/20/2008  | 
Citi may become a takeover candidate. IT spending cuts are looming. Financial products are becoming more exotic. What's next for the Street?
Fidelity Top Online Brokerage for Customer Satisfaction, says Survey
News  |  2/20/2008  | 
A new survey carried out by the American Customer Satisfaction Index and ForeSee Results has ranked Fidelity as the top online brokerage in terms of customer satisfaction. Bottom of the list was....
Janney Montgomery Scott to Upgrade 900 Financial Advisor Workstations
News  |  2/20/2008  | 
Philadelphia-based regional brokerage JMS will provide advisors with one-click performance reports for their clients
Daiwa Modernizes Securities Settlement
News  |  2/19/2008  | 
Daiwa has installed a single securities settlement interface for operations staff and will soon upgrade its derivatives processing operation
Brokers Code Dark Pool Routing Into All Algorithmic Trading Strategies
News  |  2/19/2008  | 
Many brokers are coding formulas to search for liquidity in dark pools into all of their algorithms.
Société Générale-Type Fraud Could Happen Again
Commentary  |  2/19/2008  | 
Société Générale rogue trader Jerome Kerviel wasn't a tech genius; but poor risk controls allowed him to cover up his fraudulent trades.
SIFMA Appoints Tim Ryan CEO
News  |  2/19/2008  | 
Tim Ryan was vice chairman of investment banking for financial institutions and governments at JPMorgan before joining the Securities Industry and Financial Markets Association (SIFMA).
TABB Group Promotes Sussman
News  |  2/19/2008  | 
Adam Sussman says one major industry trend he will be focusing on as research director at TABB Group is the significant increase in buy-side derivatives trading.
FundQuest Hires Prescott
News  |  2/19/2008  | 
Leslie Prescott will lead the development of FundQuest's Retirement Management Solutions platform, which enables financial advisors to deliver advanced planning, implementation, and monitoring services to their clients.
Weather Derivatives Traders Get Starter Kit
News  |  2/19/2008  | 
YellowJacket, Risk Management Solutions and MDA EarthSat Weather combine their offerings to create a suite of services designed to enhance weather trading operations.
Reuters Releases Data Feed Direct for OPRA
News  |  2/19/2008  | 
RDFD offers high-performance exchange feed connectivity, as well as daily reference data maintenance and hardware, software and service monitoring.
Ecora Releases New Auditor Professional
News  |  2/19/2008  | 
Auditor Professional 4.5 discovers, collects, analyzes and reports on configuration data from a company's infrastructure.
A Practical Guide to Implementing the Global Investment Performance Standards (GIPS) for Asset Managers
News  |  2/19/2008  | 
Adhering to GIPS is in the best interest of any investment firm that wants to compete effectively and fairly. It helps build a framework for implementing industry best practices while helping engender the trust of prospective and current clients.
Energy-Efficient Hardware Reduces Data Center Energy Consumption
News  |  2/19/2008  | 
Cassatt's Active Power Management software reduces energy consumption in the data center by turning off servers when idle.
Wall Street Firms Building More Energy-Efficient Data Centers
News  |  2/19/2008  | 
Financial institutions increasingly are employing new technologies to improve the efficiency and environmental friendliness of their data centers.
The Future of SOA on Wall Street
News  |  2/19/2008  | 
Many Wall Street firms are refining their SOA architectures and taking them to the next level. Executives at JPMorgan, Merrill Lynch and Comerica share their insights.
Wachovia Adopts Entitlement Management Solution
News  |  2/19/2008  | 
Entitlement management technology gives Wachovia control over what users can do once they've passed through network security.
DTCC Streamlines Managed Accounts
News  |  2/19/2008  | 
DTCC launches Managed Accounts Service to streamline communications among investment managers, sponsors and service providers.
Ineffective Access Management Poses Risk to Businesse
News  |  2/19/2008  | 
Employees have too much access to information, according to a new Ponemon survey.
Aite Reveals Top 10 Investment Trends
News  |  2/19/2008  | 
Hot topics in 2008 include OTC derivatives processing, international market fragmentation, and corporate actions processing.
Stock Exchanges and ECNs Fight for Liquidity
News  |  2/19/2008  | 
TABB Group reports that faster ECNs are leveraging aggressive pricing models to build equity volume.
Offshore Outsourcing of IT Positions Loses Popularity
News  |  2/19/2008  | 
According to a recent survey, 94 percent of participating CIOs say their companies currently are not outsourcing technology positions outside the U.S.
More Financial Firms Join Industry Consortium Trade Ideas
News  |  2/19/2008  | 
London-based utility Trade Ideas Limited (TIL), established by Citi, Credit Suisse, Dresdner Kleinwort and Merrill Lynch, reported an increase in membership of 88 percent in 2007.
Compliance Costs Grow Faster Than Net Income
News  |  2/19/2008  | 
Compliance costs are eating up more and more net income, growing from 2.83 percent of net income in 2002 to 3.69 percent in 2006.
Wachovia Improves Its Forex App Response Time 33%
News  |  2/14/2008  | 
Wachovia's investment bank had a problem: foreign exchange customers were complaining about platform performance issues. "Foreign exchange is not a good place to have performance issues -- not when you like to retain customers," notes Jim Hirschauer, architecture manager and technical expert for the corporate and investment banking technology division of Wachovia.
Santayana New Sales Head at Credit Suisse AES
News  |  2/13/2008  | 
As the newly appointed Head of Advanced Execution Services (AES) Global Sales at Credit Suisse, Manny Santayana is already working hard to foster the group's global, multi-asset focus.
What's Holding SOA Back on Wall Street? Missing SLAs
News  |  2/11/2008  | 
The heavily siloed computing model that pervades Wall Street today is not transitioning to "SOA goodness" any time soon for one key reason: lack of service quality, said Hugh Grant, director of global IT research and development at Credit Suisse, at the Web Services/SOA on Wall Street show in New York City today. Funding, security, risk and compliance are additional hurdles to large-scale SOA adoption at investment firms, he said.
Soc Gen: Kerviel Messages with Broker Revealed
News  |  2/11/2008  | 
With a second trader now in custody in the Soc Gen fraud scandal and rogue trader Jerome Kerviel in jail, a French magazine today published a series of instant messages Kerviel and his broker at Newedge exchanged over the course of several months leading up to their arrest.
World’s Biggest Bank Frauds
News  |  2/11/2008  | 
The Société Générale $7.14 billion fraud is the most recent in over a decade's worth of major bank fraud.
Is the Risk Manager to Blame for the Subprime Crisis and the Société Générale Scandal?
News  |  2/11/2008  | 
In the wake of the credit crisis and the Société Générale fraud, the spotlight -- and much of the blame -- has fallen on the risk manager.
Société Générale Fraud: A Timeline of Events
News  |  2/11/2008  | 
The Société Générale fraud began to surface in 2007 when junior trader Jerome Kerviel's losses started to materialize.
Software Lets Old Apps Run Faster Across Windows Clusters
News  |  2/7/2008  | 
Ever since the clock speeds of individual computer chips stopped doubling, those who have wanted to run existing applications faster -- such as algorithmic trading desks -- have had to turn to grid computing or specialized hardware to get that extra processing power. Multicore chips (which put two, four or more computer processors on one chip) and clusters of computers hold out the promise of high-performance computing but can't truly provide it to the typical application. The reason for this, <
Short, Automated Prospectuses To Lower Printing and Postage Costs
News  |  2/6/2008  | 
Investor communication is in dire need of reform, said Forrester analyst Craig LeClair in a webcast this afternoon on the SEC's proposed short-form prospectus. Most prospectuses are "written by lawyers for other lawyers to digest," he said. "It's an arcane format, it's hard for investors to get what they need out of it." The prospectus for an variable annuity, for example, might be 1,000 pages long and it may not be clear to the investor which product he owns. "The value of the information put i
LongView Integrates With NYFIX
News  |  2/6/2008  | 
Linedata announced its LongView trade order management system (OMS) will now offer integrated access to NYFIX Millennium dark pool and NEXAS, NYFIX's algorithm suite.
Capital Markets Firms to Spend $41.8 Billion on IT in 2008, Aite Says
News  |  2/5/2008  | 
Aite Group put out a new, optimistic IT spending report for the capital markets yesterday that, like the Wall Street & Technology IT spending survey that we released in November, predicts an increase in IT spending of just under 10% for 2008, as well as for the ensuing years through 2011. (By contrast, a more conservative Cel
The Case for Low-Latency File Virtualization
News  |  2/4/2008  | 
The best idea in large-scale storage in the past decade has been storage virtualization software, also called storage fabric -- hardware-agnostic middleware that lets IT managers intelligently manage the storage of files and data. In an ideal implementation, storage virtualization saves network, server and storage managers from having to re-provision files and data to new devices when servers and storage devices become full, and reduces disruption and downtime for users who need to access inform

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