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News & Commentary
Content tagged with Trading Technology posted in February 2007
Can the Market's Systems Keep Up With Electronic Trading?
News  |  2/28/2007  | 
Yesterday's steep stock market plunge of 416 points sent a warning of how vulnerable the market structure is to systems glitches and data backlogs when there are unexpected volume surges and rapid sell-offs in an electronic trading environment. As most of us know, problems began around 2 p.m. when the Dow Jones Industrial Average was already down 200 points -- in part a reaction to the sell-off in Chinese stocks, translated into concerns about the U.S. economy. I was in the car at 2:30 p.m. wh
Weak Enforcement of Corporate Governance and Lax Technical Controls Have Enabled the Illegal Backdating of Stock Options
News  |  2/21/2007  | 
Regulations focusing on backdating have prompted corporations to pursue technical solutions centered around time synchronization to eradicate the practice.
Attractive Alternatives to Mainframes Are Breaking Their Decades-Old Hold on Wall Street
News  |  2/21/2007  | 
THE CHALLENGE: Wall Street has relied on the dependability of mainframes for more than 40 years. But as the competitive environment demands more efficiency and agility -- and as alternatives mature -- firms are weighing the pros and cons of migrating off their mainframes.
Against the Odds, the NYSE Has Successfully Implemented the Hybrid, Acquired Euronext and Become More Profitable
Commentary  |  2/21/2007  | 
New technology, combined with cost cutting and a large market share, has allowed the NYSE to become more profitable and successful.
Raj Mahajan Drives Transformation and Increases Wallet Share as the New President of Sungard’s Brass Unit.
News  |  2/21/2007  | 
Mahajan shifts the focus of Sungard's Brass unit from new sales to serving the needs of existing customers.
For Credit Suisse, Doing Nothing Is Not an Option
News  |  2/21/2007  | 
David Reilly, managing director of Credit Suisse's information technology group, says he often thinks about the cost of doing nothing.
The Do-Nothing Costs of Messy Data Architectures: Data Management Still Takes a Backseat at Many Financial Firms
News  |  2/21/2007  | 
Although you won't find it on any balance sheet, the lack of formal data management policies and processes can be costly. Securities' firms that fail to devote time and resources to data management practices and tools will find themselves paying a price of increased risk, failed trades and overly expensive data feeds.
Brokers Back CSAs to Help Buy Side Achieve Best Execution and Pay Research Providers
News  |  2/21/2007  | 
In search of best execution, buy-side firms tap brokers' new commission-sharing arrangements to pay for valuable research.
RFA’s eHarbor Backs Up Hedge Fund E-Mail
News  |  2/15/2007  | 
New York-based hedge fund solutions specialist Richard Fleischman & Associates (RFA) released eHarbor, an e-mail data backup and restoration solution designed specifically with hedge funds in mind.
Paisley Consulting Released Its Enterprise GRC Platform
News  |  2/15/2007  | 
To help firms break down the barriers between audit, risk and compliance groups, Paisley Consulting released its Enterprise GRC (governance, risk and compliance) platform.
News  |  2/15/2007  | 
The Content Technology Solutions division of Dow Jones (New York) has launched a Wealth Manager Web site that aggregates news feeds and presents wealth managers with reasons for making contact with clients, the company says.
Former Lehman Brothers CIO Kevin McGilloway Joins Diamond Consultants
News  |  2/15/2007  | 
Former Lehman Brothers CIO Kevin McGilloway has joined Chicago-based Diamond Management & Technology Consultants as a partner.
Keeping Tabs
News  |  2/15/2007  | 
David Harris Is Named President of the CBOE Stock Exchange
News  |  2/15/2007  | 
The CBOE Stock Exchange (CBSX) -- a soon-to-be-launched electronic, Reg NMS-compliant stock exchange from the Chicago Board Options Exchange (CBOE) -- has named David Harris as its president.
Trial and Error: When It Comes to Compliance, the Bare Minimum Isn’t Enough Anymore
News  |  2/15/2007  | 
Detwiler, Mitchell, Fenton & Graves' CCO Robert Jeffords Dumped Two E-Mail Archiving Providers Before Being Satisfied With His E-Mail Compliance
Many Buy Siders Are Taking on the Role of Researcher
News  |  2/15/2007  | 
Some buy-side fims have stopped using sell-side research in favor of search applications such as firstRain.
UNX Provides Access to Liquidity Sweeping Tools Via Instant Messaging
News  |  2/15/2007  | 
Buy-side traders that feel comfortable using instant messaging to communicate with and route order flow to the sell-side community can now use IM to sweep crossing networks and dark pools. The cool technology comes as the result of a partnership between Pivot Solutions, the developer of IMTRADER and UNX, an agency brokerage specializing in direct-market access and algorithmic technology.
LatentZero Integrates EMS Functionality into Its Buy-Side OMS
News  |  2/14/2007  | 
With buy-side traders turning to faster execution management systems (EMSs) and installing them on the desktop next to their order management systems, the OMS vendors have been scrambling to provide EMS functionality. This week, LatentZero a supplier of front-office systems for the buy-side, said it had integrated EMS functionality into its buy-side OMS. The company's OMS, Capstone Minerva, now has a fully integrated EMS trading module desig
Five Rules For Bringing Your Real-Life Business Into Second Life
News  |  2/13/2007  | 
With buy-side firms struggling to place a value on the research and services provided by the sell side, the status quo is no longer acceptable.
The Cost of Doing Nothing
News  |  2/13/2007  | 
As margins shrink in many business lines, forward-looking financial services firms increasingly are looking to shake up the status quo to find new ways to generate revenue while reducing costs.
Deliberating on E-discovery and the Changes to the FRCP
News  |  2/13/2007  | 
New rule changes make undiscoverable electronic documents a serious legal liability for financial services firms.
Asset Managers Push Custodians to Offer Independent Pricing Services for OTC Derivatives
News  |  2/13/2007  | 
The exponential growth of OTC derivatives is forcing custodians to provide independent valuation services to their institutional clients.
Exchanges Lag in IT Spending
News  |  2/12/2007  | 
Despite the global reinvention of securities exchanges as for-profit companies, IT spending by exchanges will continue to lag behind that of brokers and asset managers, according to research from TowerGroup
Ask the Experts: Trading
News  |  2/12/2007  | 
Question: Will SIFMA's request to have the SEC examine the NYSE's new market-data fees have any impact on the future fee structure(s)? What are the concerns about the proposed new market-data fee structure?
Brokerages Start Providing BlackBerrys
News  |  2/12/2007  | 
Slowly but slowly, brokerage firms are starting to provide wireless services to their clients, according to a report from Corporate Insight, which monitors U.S. brokerage firms' online presence.
Wealth Management Market Continues to Grow
News  |  2/12/2007  | 
The wealth management market will continue to grow through the end of the decade, according to a report from Boston-based Celent.
The Debate Over Execution Management Systems Vs. Order Management Systems
News  |  2/12/2007  | 
Over time, the current debate over the value of execution management systems (EMSs) versus order management systems (OMSs) will become irrelevant, predicts Aite Group (Boston).
FX Market Fragmentation
News  |  2/12/2007  | 
New numbers out of TABB Group (Westborough, Mass.) indicate that the foreign exchange market is following the lead of equities and becoming increasingly fragmented.
Energy-Efficient Data Centers on the Horizon
Commentary  |  2/12/2007  | 
The World Economic Forum seemed to be focused solely on global warming and climate change, if you relied on the news reports from columnists attending the event, including this magazine's own coverage.
Connecting to Alternative Execution Venues
News  |  2/7/2007  | 
Ivy Schmerken, Wall Street & Technology With the proliferation of alternative electronic execution venues lining up to compete with the New York Stock Exchange and The Nasdaq Stock Market, connectivity to these new liquidity pools is not a topic that gets discussed much. But this week two of the new electronic marketplaces - one an ECN, the other a stock exchange - revealed new partnerships with electronic trading platforms.
The Buy Side Jumps on Board the Push to Automate OTC Derivatives
News  |  2/5/2007  | 
Now that traditional buy-side firms and hedge funds are increasingly investing in credit derivatives, the fastest-growing product in the OTC derivatives space, the industry is focusing on automating post-trade processes to reduce operational risk.
Amaranth Disaster Highlights Independent Pricing
News  |  2/1/2007  | 
With the saga of Amaranth's blowup unraveled in yesterday's Wall Street Journal story, the wisdom of hedge funds relying on dealers for pricing their derivatives portfolios has come into question. While everyone knows the saga of Amaranth - a hedge fund whose aggressive trader took huge positions in natural gas contracts and then lost $6 billion in one week - there are lessons to learn from this tragedy for other hedge funds and institutions

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