Content posted in March 2004
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Electronic-Trading Newsflashes
BNY acquires Sonic Financial Technologies to beef up direct-access; E*Trade targets direct access with hook up to Orc ExNet network; rketAxess to launch Treasury bond-trading service via ICAP BrokerTec;Tradeware Buys B2B and Omiris Neworks to expand into cross-border trading and settlement.
Risk Newsflashes
DRW chooses Future Dynamics to manage clearing exposure; GEM and Systemwire build derivatives trade-matching platform; ADP introduces intra-day margin tool.
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Caplin and Instinet team up to distribute Reuters' data; FTI releases StreetConsolidator; Barclays Capital offers U.S. Treasuries, TIPS and STRIPS over Bloomberg Professional.
Investment Technology Newsflashes
Charles River Development and FXall offer FIX message-based FX-workflow solution; State of Wisconsin Investment Board opts for Eagle Investment Systems; PeopleSoft offers Enterprise Wealth Management.
E*Trade Ups the Ante for Active Traders
E*Trade Ups the ante for active traders with two-second trade execution.
NYSE: Fast Market or No Market?
If the NYSE becomes more electronic, its owners (the specialists and floor brokers) will be disadvantaged, and possibly jobless.
Newsmakers
NYSE Taps Pastina for Trading Floor; Futures Pro Joins Hotspot FXi; Merrill's Bottega Moves to CSFB; People on the Move.
Product Watch
Infrastructure Instructions; Counting Credit; Mending Breakpoints
JPMorgan, Schwab, Prove Web Services Is More Than Just Hype
In October 2002, Wall Street & Technology ran a feature article titled, "Can Web Services Live Up to the Hype?" Just over a year later, the answer appears to be a resounding 'yes.'
IT Challenge: Settlement
The Challenge: For financial services firms, moving away from batch processing is still a challenge. The DTCC's new inventory-management system offers delivery flexibility and helps firms find efficiencies and increase automation in the settlement process.
Biometrics Add Security in Insecure Times
Technologies like voice-recognition and fingerprint authentication can add a layer of security while improving customer service and cutting costs.
Raymond James Extends Security Blanket
The financial-services provider is beefing up security with intrusion-detection software from WholeSecurity.
Outsourcing Case Study
JPMorgan Finds Operational Efficiencies
Glasgow-based European Technology Centre paves way for worldwide sourcing model.
GE Asset Management Taps Latent Zero
After several acquisitions, GE Asset Management revamped its firm-wide trade-compliance and order-management systems.
It’s a Family Affair
If you think your family tree is confusing, check out the data hierarchies being built in Wall Street's data departments.
Regulators Play Hardball with Soft Dollars
Buy-side firms are facing more disclosure requirements and possible curtailment of soft-dollar commissions applied to investment technology.
New Kids on the Block
Two new players are offering block-execution systems to buy-side institutions. Can they succeed in a crowded field?
Virtual Mentors Cater to Active Traders
CyberTrader is wooing active traders with online experts, interactive chat rooms and Web-based training courses.
If You Build It, Will They Come?
As wealth managers battle for assets, CIOs are increasingly turning to outside vendors to build best-of-breed technology solutions.
Viewing SOX Holistically
It's a good thing that the Sarbanes-Oxley Section 404 deadline has been extended, as many on Wall Street weren't quite ready for the June 15 mandate.
Believe it or not, three out of four adults have heard of Voice-over-Internet-Protocol [VoIP] technology, according to a recent survey sponsored by AT&T.
Scots Accent Favored for Call Centers
If you're a British financial-services customer contacting a call center, you're likely to be happier if the person answering the phone has a Scottish accent
Integration Is Key
Integration was raised again and again as one of the largest obstacles to creating the perfect broker-workstation environment.
NYFIX Teams with ArcaEx for Listed stocks
NYFIX Millennium is giving buy- and sell-sell side traders the chance to execute listed stocks in Archipelago Exchange.
Investment-Technology Briefs
SunGard launches Exception Manager for investment firms; XcitekConsultingServices examines mutual-fund breakpoints; Eze Castle Software announces Destination Station for FIX trading.
Market-Data Briefs
Thomson Financial adds aftermarket research data from J.P. Morgan Securities; Informatica supports IBM Compliance with its data-integration platform; Denmark Bank implements Reuters Market Data System.
Risk Newsflashes
BNG picks Front Arena for consolidating fixed-income and derivatives; IBM pitches tech package at $4 billion Basel II market.
Electronic-Trading Newsflashes
Clearing systems ready for March 26 launch of CBOE Futures Exchange; Reuters acquires remainder of ICor Brokerage Ltd.; ITG implements Triton with TimesTen data-management technology; Nasdaq launches integrated platform for NYSE-listed and Nasdaq stocks.
An Interview with Nasdaq’s Christopher Concannon
If Christopher Concannon were a linguist, then market structure would be his language. As executive vice president of transaction services for the Nasdaq stock market, Concannon is responsible for the management and operation of Nasdaq's transaction platforms, including SuperMontage, its automatic-execution system.
T. Rowe Price Is Tied Together
With some help from IBM, the investment firm gets a handle on content management.
Investment-Technology Newsflashes
Trema launches NAV Monitor; UBS Wealth Management Australia implements Sanchez Portfolio; Northstar updates enterprise-advisery platform.
Market-Data Newsflashes
Franklin Templeton Investments will implement StreetReference; Cantor Market Data and Tradition extend swaps-data service; Northern Group Treasury upgrades Moneyline Telerate workstation.
Risk Newsflashes
Four firms go live with DTCC's credit-default swaps-matching service; SuperDerivatives signs up 10 German and Austrian banks; Central banks draft report on managing risk in CCPs; SunGard unveils Adaptive framework.
Electronic-Trading Newsflashes
OM acquires stake in U.K. back-office outsourcing provider; State Street buys the rest of Elkins/McSherry; TransactTools scales to meet explosive growth in ArcaEx FIX message volume; Lava releases market making for listed-trading to coincide with SuperMontage offering.
Nasdaq Is Gearing up for Launch of Listed Trading on SuperMontage
Next week Nasdaq plans to migrate trading in listed-stocks to SuperMontage in a move to capitalize on sector-based trading and cut costs.
Investment-Technology Newsflashes
Standard Life Investments chooses Charles River; State Street becomes shareholder in E-Crossnet; ABN AMRO Netherlands selects Odyssey for portfolio management.
Market-Data Newsflashes
Hotspot FX delivers data from MNI; BNY and Wachovia sign on with OpVantage for operational-risk data.
Risk Newsflashes
Mantas advocates creation of anti-money-laundering standard; WestLB licenses Principal System for structured investment vehicle; SuperDerivatives launches FX-options risk-management system.
Globex Learning Center picks FFastFill's training-to-trade software; SunGard Futures launches processing ASP Services in Germany and Central Europe; Archipelago files to raise $150 million in IPO; Fortis Bank selects Radianz for buy-side connectivity.
A1/C1 Risk: Taking Archival Seriously
Many firms are still using tapes and are backing them up with off-site storage.
Leman Leaves Citigroup
Citigroup's global corporate and investment banking business is saying goodbye to Jim Leman after 22 years of service.
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Foreign exchange is taking a front seat at FIX Protocol Ltd, where Steven Donovan and Jack Lemonik have been named co-chairs of the FIX Foreign Exchange Working Group.
Durkin Designated CBOT’s COO
The Chicago Board of Trade has promoted Bryan Durkin to executive vice president and chief operating officer.
Creditex Sets Standard in FpML
Creditex clients can now get their credit-default-swap broker confirms in Financial products Markup Language.
Barring Bad Credit
Credit-risk identification is the goal of Berkeley, Calif.-based Barra's new Barra Credit product.
InfoStep Stands Up to Sox
Still stumped by Sarbanes Oxley? InfoStep, has released eLustroHarmony, a risk-management and compliance tool to help get firms on track with SOX.
Web-Privacy Management Increases in Importance
An organization's reputation is increasingly at risk online.
IT Challenge: Spam
The Challenge: Junk e-mail is becoming a big problem, as spammers clog inboxes with dubious offerings from weight-loss remedies to cheap Viagra.
Putting an End to the Spend
Having a fail-proof disaster-recovery plan is important, but so is a cost-conscious budget. Can financial-services firms have both?
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