Content posted in August 2002
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SuperMontage Launch Gets Green Light From SEC, But Instinet and Island are Leaning Towards the ADF
Nasdaq has received regulatory approval to launch SuperMontage, but the two largest ECNs appear ready to put their weight behind the Alternative Display Facility.
Wealth Management Vendor netDecide Chooses Savvis to Host ASP service
NetDecide launches an ASP version of its product in August, selecting St. Louis-based Savvis Communications to provide the managed hosting services, according to an announcement by both companies on Tuesday.
TowerGroup Research Says Web Services Reality Still a Ways Off
The Web services focus remains a phenomenon until standards evolve to meet the transaction processing and security needs of financial institutions.
ELECTRONIC TRADING
* SunGard Futures Systems finalizes all the system enhancements it had to make in order to process and clear single-stock futures.
* Investment Technology Group and Hoenig Group agree to merge. * SGX expects to open a new global-electronic-trading center by October.
MARKET DATA
* Researchsummary.com releases its Word2RIXML software.
* Nasdaq redesigns its Nasdaq.com Web site with new personalized content and features.
RISK-MANAGEMENT TECHNOLOGY
* The Korea Teachers Pension Fund licenses Kamakura Risk Manager market-risk software.
* The Investment Company Institute calls for minimum standards for the business-continuity capabilities of the clearing banks.
Has Bloomberg Been Overcharging You?
Bloomberg customers, in as many as 40 states, reportedly have been overcharged on sales and use taxes for information services. Some customers have already received state refunds, could your firm be eligible?
Archipelago Completes Rollout of Listed Stocks for ArcaEx, Eyes 2003 Conversion of Nasdaq Stocks
Archipelago has finished the deployment of listed stocks on its exchange, and expects to migrate Nasdaq stocks to its market early next year. Separately, Archipelago has also diversified its ECN business via its acquisition of GlobeNet.
Conde Elected SunGard CEO
New SunGard CEO Cris Conde says the IT-talent pool has never looked better.
INDUSTRY VOICE: CROSSING THE ACTIVE TRADER GENDER DIVIDE
Contrary to traditional stereotypes, active traders are not all men.
ELECTRONIC TRADING
* SunGard promotes Cristobal Conde to CEO.
* Clients can send orders to Instinet Global Crossing. * Securities and Exchange Commission schedules a meeting to determine whether the Nasdaq Stock Market has satisfied conditions for launching SuperMontage.
MARKET DATA
* Safeco Mutual Funds will implement FT Interactive Data's new Fair Value Evaluation Service.
* HyperFeed appoints Paul Pluschkell as executive vice president of strategic business development. * SunGard Market Data Services makes its SunGard PowerPartner market data terminal accessible through ordinary broadband Internet.
RISK-MANAGEMENT TECHNOLOGY
* Omniva Policy Systems releases its Omniva Policy Manager Enterprise Edition for secure e-mail.
* FaceTime Communications and KVS form a strategic partnership to deliver compliance solutions for instant message communication. * SunGard plans to launch Collateral Reconciliation tool at Sibos this fall.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Macgregor signs an alliance agreement with Access Data Corp.
* NYLIM Retirement Plan Services and Morningstar Associates, LLC, launch a new service called Portfolio Complete. * uMonitor, Inc launches a new service called uMAdvisor.
OPERATIONS
* ADP Brokerage Services Group acquires Power Securities Systems.
* PFPC Inc. is selected by Smith Graham Company to provide comprehensive servicing to the SmithGraham Institutional Funds.
Bear Stearns Jumps on the RIXML Bandwagon
Bear Stearns provides RIXML-enabled research for clients to categorize, aggregate, compare, search and sort investment research more efficiently.
MFS Gets Custom View Into CTM With Vendor's Help
MFS Investment Management has teamed up with Heliograph to get a better view into Omgeo's Central-Trade Manager.
Dresdner RCM Overhauls Equity Floor; Reuters, Eizo Nanao and IPC Provide Key Systems
Dresdner RCM has revamped its equity room with technologies from Reuters, Eizo Nanao and IPC Information Systems.
ELECTRONIC TRADING
* The launch of SuperMontage remains on hold.
* SunGard Trading and Risk Systems acquires Monis Software. * NeoNet goes live with an electronic interface to the Milan Stock Exchange.
MARKET DATA
* Iverson releases its new Amex ETF Monitor service.
* Eurex Bonds will offer users real-time trading data and indices. * Hong Kong Exchanges and Clearing Limited posts Exchange News on its Web site.
RISK-MANAGEMENT TECHNOLOGY
* SunGard acquires Monis.
* Dr. Anil Vijayan joins Principia Partners. * FCTM implements Summit Systems' front-to-back-office trading software.
INVESTMENT-MANAGEMENT TECHNOLOGY
* FSBA selects the MINT Knowledge Family of products to provide business integration and automation for its portfolio-management, investment-accounting and trading systems.
* UBS Global AM implements the LongView 2000 trade-order-management system. * Symphonis selects the CameronFIX engine for FIX trading.
OPERATIONS
* State Street Corporation will provide investment services to an additional 62 of Columbia Management Group's funds.
* ADP Brokerage Services Group announces the appointment of Charles Marchesani as senior VP of product development for its BPS group.
DR: Has Any Real Progress Been Made?
The industry did its best to recover the most horrific terrorist attack ever - to continue with business - but did so accepting a unanimous pact to learn from the lessons of that fateful day.
NEWSMAKERS
Catucci Named CEO of Regulatory DataCorp; Dickey Named to VP Post at CBOT; Lynch, Jones and Ryan Executive Moves Up.
PRODUCT WATCH
Automated Financial Systems launches Investpoint; Interface Software releases InterAction 5.0.
The Challenge
FleetBoston, Fidelity and Berkshire Group of Companies are being charged with developing a strong technology platform that will allow them to cross sell their products and services.
Sun Launches Linux Product, Embracing Rival System to Please Clients
Sun Microsystems launches an entry-level-server strategy at the LinuxWorld Conference and Expo in San Francisco on Monday that will run both the Linux and Solaris operating systems on a standard Intel box.
Wireless-Retail Financial Services: Adoption Can't Justify the Cost
As with any new technology, a good help desk is key to customer adoption. Read some suggestions on how to organize your tech support so customers don't quit on wireless.
Help-Desk Support Is Key to Wireless Success
Wireless usage in retail banking and brokerage is declining and some firms are suspending service to cut costs.
Gearing Up for CLS Bank
Continuous-Linked Settlement Bank is, once again, on the horizon. Find out how to get ready for this "revolution" in foreign-exchange settlement.
SIA Shelves T+1 Decision Till 2004
The SIA has decided it won't even consider naming a T+1 conversion date until 2004.
OMS Battle Heating Up As Chicago Equity Ousts LongView for Macgregor
All trade-order-management systems are, apparently, not created equal. Chicago Equity dumps LongView for Macgregor but the battle for clients rages on.
Automating the Compliance and Supervision Process
New technology is streamlining the process of supervision and compliance at broker/dealer firms with multiple branch offices.
Radianz and Savvis Look to Expand Service in Wake of Telecom Scandals
In the wake of scandals that have forced Global Crossing and Worldcom to file for bankruptcy, Radianz and Savvis, a pair of networking providers, are expanding their offerings.
Tapping the Mass Affluent
Third parties jumping on the separate-accounts bandwagon are helping independent financial advisers serve the mass affluent with Web-based platforms.
With the anniversary of Sept. 11 fast approaching, disaster recovery is once again taking center stage in the minds of industry observers.
The Beat on the Street
Financial firms in North America spend more on IT than any other industry; While global economies suffered this past year, HNWIs were able to persevere.
Outsourcing: The Wave of the Future in Trading Floor Disaster Recovery?
In their search for trading floor disaster-recovery options, financial-services firms are now more actively considering outsourcing.
Swift Emphasizes Nov. 16 Migration
Swift has a safety net for firms that don't make the Nov. 16 15022 conversion but it's not going to be free.
3DStockCharts.com Re-launches Site with Integrated ECN Data, New Functionality
3DStockCharts.com goes live with a new version of its Web site this week.
ELECTRONIC TRADING
* ICAP plc signs a letter of intent to acquire the majority of BrokerTec Global's trading operations.
* The Bank of Ireland selects a platform from Integral to manage all of its internal and branch network- foreign-exchange pricing. * The Bloomberg Tradebook ECN decides to participate in the NASD's Alternative Display.
MARKET DATA
* OneChicago selects the CBOE to disseminate its market data through the CBOE Financial Network infrastructure.
* Kiodex signs a data- distribution agreement with Logical Information Machines. * Dow Jones Newswires calculates its first two electricity indexes with hourly market data.
RISK-MANAGEMENT TECHNOLOGY
* Six banks face a fine of up to $10 million for not keeping e-mail messages.
* Barclays Bank selects SunGard Trading and Risk Systems' BancWare solution.
INVESTMENT-MANAGEMENT TECHNOLOGY
* Misys Asset Management Systems appoints Peter Miller and Peter McKenna as directors of sales and marketing.
* SimCorp launches version 3.2 of its TMS2000 investment-management system.
OPERATIONS
* Wachovia Corporation signs a long-term partnership agreement to use investment-processing technology from SEI Investments.
* Royal London Asset Management becomes the first investment-management firm to centrally match cross-border-live trades. * Zurcher Kantonalbank selects the SeeBeyond Business Integration Suite to facilitate data transfer between the bank's internal and external systems and to streamline the processing of Swift transactions.
CCBN Sues Thomson Over Unfair Trade and Business Practices
CCBN files a lawsuit against Thomson Corporation and its subsidiary Thomson Financial Inc., alleging that it had breached its fiduciary duty by using classified information from CCBN board meetings to compete against the company.
SIAC Launches Initiative to Address 9/11 Telecom Issues
Seeking to equip their member firms with redundant connectivity to their data centers, the NYSE and Amex have begun the rollout of a major telecom initiative. The project, dubbed SFTI, is being spearheaded by SIAC, the IT firm co-owned by the exchanges.
Pru Securities Inks Global Deal to Stream Proprietary Prices via Web with PFS Trader Tools' Products
Prudential Securities signed a global- licensing agreement with PFS to distribute real-time streaming data to customers of its over-the- counter foreign-exchange business, worldwide.
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Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.
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