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Nasdaq Launches Liquidity Flags to Boost SuperMontageVolume In a strategy to broaden participation in SuperMontage, Nasdaq implemented liquidity flags to help professional traders track their profits and losses from liquidity rebates and access charges in real-time. It's all part of move to win back market share from ECNs.
Automated-Allocation Tool Targets Smaller Investment Managers Some large broker/dealers, tired of receiving faxes from lower-tier investment managers, have worked with Omgeo to develop a Web-based allocation solution.
Market Data Dilemmas Industry leaders Focus on Data Centralization to Improve Data Quality
Electronic Trading Briefs Charles River Development certifies FIX connectivity with Salomon Smith Barney. ; The International Securities Exchange (ISE) launches a virtual-private-network connectivity solution. ; Fxall signs an exclusive agreement with Moneyline Telerate to distribute FX quote data on hundreds of foreign currency pairs.
Market Data Briefs HelioGraph announces the appointment of Simon Strong to its corporate-actions team. ; StatementOne announces that Triad Advisors agrees to integrate consolidated portfolio-accounting and performance-reporting solution into its technology infrastructure. ; Moneyline Telerate and Fxall announce that Moneyline Telerate has become the exclusive enterprise licensee.
Risk Management Tech Briefs Rolfe & Nolan says the company will de-list from the London Stock Exchange. ; The International Securities Exchange (ISE) launches a virtual-private-network connectivity solution. ; Deutsche Brose AG expects earnings before interest and taxes (EBIT) to total $470.8 million to $492.2 million, according to chief financial officer Mathias Hlubek.
Investment Management Tech Briefs Parnassus Investments recently implemented MFACT. ; Charles River Development certifies FIX connectivity with Salomon Smith Barney. ; Bear Stearns signs as the first to participate in the online FX auction system, Forexster. ; Investment management firms now get sales reporting information from a product that combines Access Data's SalesVision with Onyx Enterprise CRM. ; Searchspace has launches AML Sentinel Version 4.0.
Operations Briefs JPMorgan Investor Services is appointed by ISIS Asset Management as custodian. ; ADP Securities Industry Software announces two new outsourcing clients for its securities-transaction-processing platform. ; John Gaudioso has joined JPMorgan Investor Services to head up sales and relationship management for non-custodial lending in the Western Hemisphere.
The Bond Market Association Gears Up for Emergency Trading As the U.S. war begins with Iraq, The Bond Market Association is prepared to serve as a central-communications point for member firms and regulators. In case of an emergency, it will bring all parties together to focus on keeping the markets open.
Buy-Side Firms To Brokers: Operational Efficiency Matters A new survey indicates that investment managers are more concerned than people might think about their broker's back-office efficiency.
Fischer Francis Signs with Advent Asset management firm demonstrates Geneva's global functionality
The Gomez Performance Index - Year In Review Looking back on 2002, Web site performance played a significant role in how financial-services firms evaluated the effectiveness of their online offerings.
Electronic Trading The Bond Market Association sends letter to Securities and Exchange Commission regarding a focus on keeping fixed-income markets open during times of emergency. ; To comply with the SEC, Northwestern Mutual is the most recent firm to license the ITG Fair Value Model from Investment Technology Group, Inc. ; Dundee Securities reports that Syntegra completes a project to provide scalable voice-trading technology to its Toronto trading room. ; BNY Brokerage signs an agreement to acquire asset
Market Data XcitekSolutionsPlus and Asset Control make alliance to integrate their solutions. ;Credit Market Analysis announces it will use creditex's credit-default-swap pricing data to improve offerings. ;STP vendor SmartStream Technologies acquires privately held Effective Solutions Inc. ;Financial Sciences Corporation, Inc. announces working with Reuters to implement an interface that will allow for electronic dissemination of commercial- paper-offering rates.
Risk Management ;Soros Fund Management LLC licenses Algo Collateral solution for OTC derivative margining from Algorithmics Incorporated. ;The European Bank for Reconstruction and Development goes live with Accurate Software's Operational Risk Management solution. ;On April 9th, Derivatech will sponsor a free Lepus seminar. See www.lepus.co.uk for more information.
Investment Management Technology Texas-based Barbnet selects SolutionForge to provide FIX.NET Server. ;Soros Fund Management LLC serves as advisor to Quantum Group of Funds choosing Algorithmics' Algo Collateral to help manage risk. ;Macgregor and Global Securities Consulting Services form an alliance to create a solution for fund managers. ;Union Planters Corporation implements wealth-management solution from SunGard Wealth Management Solutions. ;Touchstone Investments chooses Brown Brothers Harriman as global custodian
Operations XcitekSolutionsPlus and Asset Control make alliance to integrate their solutions. ; ABN AMRO announces Bank Julius Baer as first Swiss institution to award them a CLS third-party-services mandate. ;Trema announces DekaBank to go live with Finance KIT.
Harborside+ Ups the Ante on Liquidity Harborside+ reports that liquidity, trading volume and number of buy-and sell-side users has doubled over the last quarter. But, the hybrid equity-trading-system faces a tough fight against Liquidnet, it's main challenger.
Analyst Doesn’t See T+1 Till 2010 Despite the fact that T+1 seems a distant memory, many consultants and analysts keep singing the STP tune.
Ready for Risk Management Buy-side firm teams up with vendor to implement and promote compliance technology.
Electronic Trading Briefs MGEX agrees to provide licensing of the RANorder MGEXpress API to Rolfe & Nolan Systems Inc.'s entire RANorder client base; Cynthia Zeltwanger is named president and CEO of Fimat USA, Inc; Customers of FlexTrade Systems can now access The New York Stock Exchange's OpenBook via FlexTrader.
Market Data Briefs Thomson Financial announces five-year agreement to provide 3300 Thomson Workstations, market data and services to RBC Investments; Reveleus announces selection by the International Monetary Fund for its Treasury department; SunGard Market Data Services and Wall Street Source Inc. announce a new joint offering aimed at the institutional market.
Risk Management Briefs Commonwealth Bank of Australia goes live with SunGard Trading Systems/FRONT eGlobal Trader; Creditex opens Singapore office in response to the global credit-derivatives market; Unicredit Servizi Informativi goes live with Rolfe & Nolan's RANmargin product.
Investment Technology Briefs Pro Cap, LLC selects Web-based wealth-management platform from eMoney Advisor; Stifel, Nicolaus & Company selects Placemark Investment's TOTAL Overlay Portfolio Management Services to help its investment executives; New compliance and portfolio management solution develops to interface Eagle Investment Systems and Charles River Development.
Operations Briefs Netik announces the launch of its SwiftNet Gateway product, TurboGateway; Mercator Software, Inc. announces completion of conformance testing with Omgeo Central Trade Manager; Research from SunGard eProcess Intelligence says global top 500 banks predict strong growth for the delivery of customer-based Web services.
Goldman VP Joins Business Technology Partners Michael Reilly has joined Business Technology Partners as project manager.
TowerGroup Adds Senior Manager to Streamline Business Maureen Hesney, formerly senior vice president of Gartner, has joined TowerGroup as senior vice president
Asset Managers Forum Names New Executive Director Kenneth Juster has been promoted to executive director of the Asset Managers Forum.
Sun and B2Bits Offer FIX at Monthly Rate Sun Microsystems and B2Bits are testing preloaded FIX hardware and software with buy- and sell-side customers for a monthly rental fee.
Revere Offers Real-Time Data Through Savvis Revere is now making its Revere RealTime available via Savvis' Financial Xchange
Polycom Offers Integrated Conferencing Pleasanton, Calif.-based Polycom has released a new conferencing-collaboration system
A Conversation with CSFB’s Ciaran Henry My first impression of Ciaran Henry was that he was all business.
The Challenge Finding the right technology vendor in a sea of offerings is no easy task.
SwiftNet Migration is Major Undertaking Swift is, once again, asking its users to invest large quantities of money and time in a mandated technology conversion.
Bonds & the Buy Side Though far behind equities, investment-management firms are starting to bring greater automation and efficiency to their fixed-income trading.
Hedge Fund Benefits From New Connectivity Maple Leaf Capital recently came one step closer to straight-through processing when two of its vendors linked their systems.
Slapping On the Cuffs Will new restrictions being placed on portfolio managers bring about risk reduction or simply reduce the potential for profit?
Nasdaq Duels NYSE for Best Execution Armed with new statistics, Nasdaq claims that its electronic, distributed market of dealers and ECNs can execute S&P 500 stocks faster and cheaper than the NYSE.
Fimat Deals Its Clients a New Hand Fimat is testing an Internet-based dealing solution from Warsaw to Winnepeg, giving FX players an electronic-trading platform focused on one-stop shopping.
Next on the FIX Hit List: Bonds and Derivatives Experts say that 2003 is shaping up to be the year of FIX.
Girding for Grid Financial institutions expand into derivatives and fixed income building complex, distributed-computing environments, networking high-end Unix servers to meet the needs of traders and risk managers
Merrill’s New Man on the Mic From the Visionary to the Pragmatist: The replacement of John McKinley with John Cummings signals a new era for Merrill Lynch's tech department.
Buy Side Reluctant to Spend on Risk Many respondents to a recent CarbonBased Consulting survey of 230 buy-side organizations say they are still reluctant to spend on risk management.