Tips & Tricks for Building Composites
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.
Markit, Six Investment Banks To Launch Derivatives Pricing Platform
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
Citi may become a takeover candidate. IT spending cuts are looming. Financial products are becoming more exotic. What's next for the Street?
SIFMA Appoints Tim Ryan CEO
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
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
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.
The Future of SOA on Wall Street
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 Improves Its Forex App Response Time 33%
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.
What's Holding SOA Back on Wall Street? Missing SLAs
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
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.
Software Lets Old Apps Run Faster Across Windows Clusters
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
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
The Case for Low-Latency File Virtualization
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