Wall Street & Technology is part of the Informa Tech Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Investec Brings Apps to the Web Investec Ernst & Company, the North American arm of the Investec Group, an international banking group based in Johannesburg, South Africa, is rolling out its new DeskTec system. The platform provides correspondent clearing and prime brokerage clients with easy access to Investec Ernst applications via either the Internet or a leased line connection. Through DeskTec, clients can enter orders, manage orders, view account information and access news and quotes. In the future, Investec Ernst plans
Mr. Stock Seeks Alliance with eSpeed In an effort to provide its retail clients with online fixed-income trading capability, Mr. Stockan Internet brokerage firm specializing in stock and options tradingis discussing a technology partnership with Cantor Fitzgerald L.P.s eSpeed unit. Under the proposed alliance, eSpeed would provide Mr. Stock with an interface to its electronic bond-matching engine. Through the Mr. Stock/eSpeed interface, clients of the online broker would for the first time have the ability to view
CMS Developing Component-Based Architecture for BondEdge Capital Management Sciences (CMS), the Los Angeles-based provider of fixed-income portfolio analytics software, has begun development on a new component-based architecture for its flagship product, BondEdge. The project, which should take about 18 months to complete, will open up BondEdge to an almost infinite realm of possibilities and uses, according to Joe Duran, vice president of technology.
Deutsche Asset Management on the Hunt for Equity OMS Deutsche Asset Management, the institutional and fund management division created by Deutsche Banks acquisition of Bankers Trust, is actively searching for a trade-order management system that is particularly strong in equities. Interestingly, Deutsche is in the process of installing Thomson Financial Software Solutions OpenTrader OMS, a system it picked up back in June for its fixed-income capabilities.
BOTCC, Eurex Will Survive CBOTs Demutualization Strategy If the CBOTs current restructuring plan gets the green light from the exchanges members, the Board of Trade Clearing Corp. (BOTCC) and Eurextwo of the CBOTs key technology partnerswill come along for the ride.
Princeton Financial Releases Online Application Hosting Princeton Financial, a provider of front- to back-office applications for the buy-side industry, has just unveiled ePAM, an Internet service that provides full online access to its applications. Princeton Financial becomes another in a rash of portfolio management systems vendors that offer or plan to offer Application Service Provider (ASP) options for the buy-side community.
Canadian Money Manager Selects a Number of FMCs Systems Montreal-based Placements Montrusco Bolton, a firm with over $7 billion in assets under management, has taken a host of portfolio management solutions from Financial Models Co. (FMC) to replace a number of manual processes and proprietary applications.
GFInet Targets Professional Traders New York-based inter-dealer broker GFI Group has launched a new electronic trading platform for the professional trading community. GFInet is currently in use at GFI Groups international equity business and is in the process of being installed at 15 client sites.
A Conversation With George Kledaras Javelin Technologies' president discusses the future of the FIX protocol and how it will be complemented by XML
Denver Investments Selects Eze Castles OMS After nearly a year-long searchor four years, depending on how you look at itDenver Investment Advisors has selected Eze Castles order management system, Traders Console (TC). When Ted Laskaris, director of investment technology, joined the firm in March, he was charged with upgrading the entire equity-trading floor, picking up a search that had been ongoing since 1996. Laskaris says that he set up a matrix of functionality and price across all the major vendors, includin
Techfi Takes Portfolio Management to the Web Denver-based Techfi Corp. has launched ePortfolio 2000, a Web-based portfolio management system for registered investment advisors (RIAs) and broker/dealers. The system allows users to manage all client portfolios with real-time access to account data and report generation through the Microsoft SQL server database via the Internet. The fact that Techfi is marketing a portfolio management solution to brokers speaks to the continuing convergence in the financial-services arena. As individual inves
CreditEx Poised to Redefine Credit Derivatives Trading CreditEx.com, an online trading system covering the over-the-counter credit derivatives market, is beta-testing its execution capabilities and expects to go live by the end of the first quarter. Fifty institutions have already signed up with CreditEx, and the firm counts as investors the Bank of Montreal, J.P. Morgan Securities, Morgan Stanley Dean Witter, Deutsche Bank and Canadian Imperiale Bank of Commerce.
NYMEX Considers Buying Piece of BrentBroker.com, an OTC Energy ECN The New York Mercantile Exchange (NYMEX) is evaluating whether it should purchase a stake in BrentBroker.com, a soon-to-be-launched over-the-counter electronic communications network (ECN) covering the energy market. BrentBroker, which is tentatively scheduled to launch in mid-February, has already sent the NYMEX one proposal that calls for the exchange to snag a majority ownership position in the ECN.
CSFB Rolls PrimeDebt, Targets Institutional Investor Customers In an effort to get more small and mid-sized institutional investors to participate in the primary debt market, Credit Suisse First Boston (CSFB) has launched PrimeDebt, an electronic order-entry and execution system. PrimeDebt, which will be delivered over the Internet, will be targeted at CSFBs full complement of 10,000 institutional investor clients.
3DStockCharts Integrates ECN Data Another entrant in the race to consolidate the data of ECN limit order books of is making great strides to become the first source for integrated ECN data. The site, 3DStockCharts.com, has been live with real-time data on buy and sell orders placed through the Island ECN, and displays two dimensional and three dimensional charts representing the data.
SEC Probes SRO Revenues Derived from Market Data The surge in online trading by retail investors, coupled with the rise of alternative trading systems (ATSs) applying for exchange status, has caused the SEC to scrutinize the revenues that exchanges earn for providing real time stock market data.
Debate Continues on Electronic Trading in Part II of WS&T's ECN Roundtable Wall Street & Technology brings you continued coverage of the live ECN roundtable discussion that was held at Miller Freeman's Financial Technology Expo in November.
NASD Inches Closer to NYSE - But What of ECNs? NASD market makers, fueled by regulatory revisions, are expected to gain ground on NYSE specialists in the listed stock trading business. It is uncertain, however, whether the rule changes will also open the door to listed order flow for ECNS.
Veriscape to Deliver Rapid Derivatives Valuations Veriscape, a new company formed in May, is getting ready to release three new products that together will expedite the execution of applications, rapidly value complex derivatives and deliver the results via the Web.
Information Watch Reality Online, Hoover Online, Datalink.net, RoweCom Inc., NewsEdge Corporation, OneSource Information Services
NYMEX Eyes Multi-Faceted Electricity Exchange Plan NYMEX is considering a proposal that would divide its planned all-electronic electricity market into three separate units
Component Business Takes Off, Though Financial Firms Won't Give Away the Farm Should financial companies that have poured millions of dollars into internally developing their computer systems, sell their intellectual property to component resellers? Well, that's an intriguing proposition companies are increasingly signing up for.
Financial Services Catches Linux Fever What's been the hottest IPOs to hit the Street lately? Any company with a link to Linux-the open source operating system that is gaining momentum predominantly in enterprise network infrastructure services.
Alliance Answers Plea For Expansive Web-based Portfolio Planning Tool Three firms have teamed up to deliver an integrated Web-based portfolio planning tool-a product for which many firms have requested.
InteractiveData.com Enhances Services InteractiveData.com is making it easier for back-office portfolio accountants to access information on security prices, corporate actions, news and data.
Microsoft to Ship Windows 2000; Caps Year with ECNs By Feb. 17, Wall Street firms and retail consumers will be able to purchase the new Windows 2000 software from computer makers such as Dell, Compaq and Hewlett Packard.
Starting Salaries in IT will Increase 6.8% this Year Overall IT starting salaries will increase by 6.8% in 2000.
Buy Side Interest In Advents Geneva Picks Up Steam PlusFunds.com began using Geneva as the core accounting engine behind its new Web site that provides real-time data on hedgefund performance, and Ardsley Partners, a Greenwich, Conn.-based hedgefund manager, signed on with Advent to replace its current system, SS&C Technologies CAMRA.
First Union Converts EVEREN Biz to Phase3, Preps for Disaster First Union wraps up its plan for all systems on one SunGard platform. Simultaneously, it is the process of revamping its disaster recovery site.
Dot-com Temptations Tired of sitting through 12 hour meetings? Do you have to get 19 levels of approval to proceed with an STP project from managers who cant even spell straight through processing? Are you stifling your entrepreneurial spirit to mesh with corporate politics? If youve answered yes to any of these questions, then maybe its time you joined a dot-com company.
Latin Connections Eyeing the rapid growth of Internet usage in Latin America, a number of financial information sites, backed by venture capital, have emerged to capture the needs of the Spanish and Portuguese speaking region.
Financial Site Serves Up a Latin Beat The Internet boom is heading for Latin Americaa region where financial information has been tightly controlled and where obstacles, such as slow Internet access and expensive phone charges, have stunted growth.
MSDW Online Relies on Discover Brokerage to Jump into Future Only a couple of months after rebranding Discover Brokerage Direct, Morgan Stanley Dean Witter Online is realizing the benefits of absorbing the formerly distinct online division into the MSDW world.
Sydney Futures Exchange Deploys Overseas Hubs The Sydney Futures Exchange (SFE) is expanding access to its electronic-trading platform overseas to provide greater liquidity and improve the markets efficiency.
Trading Technologies Links with ISE Trading Technologies (TT), a Chicago-based front-end workstation software supplier that has a strong presence in Europe, is developing an application programming interface (API) that will serve as a gateway to multiple U.S. equity markets. Separately, TT intends to provide front-end access to the International Securities Exchange (ISE).
Goldman Revises Financial Services Stake in Burgeoning B2B Market As the number one underwriter in the Internet economy, Goldman Sachs has recently stepped up its scrutiny of the growing online business-to-business market.
Financial Institutions Eyeing XML for Future Standards Three little letters have been slowly embedding themselves in the vocabulary of IT professionals across the financial services industry and may already be well on their way to changing the exchange of information on the World Wide Web yet again.
Shedding Their CIO Skins To Plunge into the Unknown Why are these CIOs leaving their traditional roles behind where they have been praised and achieved great success?
Northern Trust Chooses BARRA for Risk Solutions Desperately canvassing the risk vendor community for a product that would meet the needs of its long-term investors, Northern Trust Corp.
Portfolio Management Features and Investor Search Top Tradebonds Agenda Newport Beach, Calif.-based Tradebonds.com, an online fixed-income trading system launched in May, plans to equip its site with portfolio management features by the third quarter of 2000.
Handwriting Recognition Tool: Coming Soon to a Trading Desk Near You Trading technology is moving forward in leaps and bounds at Enterprise Technology Corporation (ETC) with the development of a handwriting recognition tool for traders. ETC, a consulting and software development firm for the securities and investment management arena, is planning to release the so-called handwriting blotter this year. While the product is not yet ready for a general release, handwriting blotter is expected to be installed at a major hedge fund around the first of February.
BPI Chooses Thomson OpenTrader Orlando, Fla.-based BPI Global Asset Management has implemented Thomson Financial Software Solutions OpenTrader trade order management system. BPI will integrate OpenTrader with its Thomson Portia portfolio management system, which has been in place since 1997.
Global View Editor Simplifies User Interface Design Integrated Decision Systems (IDS) is launching the Global View Editor interface design tool for its Global Investment Manager (GIM) II users. Since the development of the GIM product, the interface has evolved from character based to graphical user and now to a Windows-based custom interface product called Global View Editor. The product is aimed at streamlining workflow and management of the GIM II integrated portfolio management, performance measurement, accounting and trading system through c
Techfi Takes Portfolio Management to the Web Denver-based Techfi Corp. launches ePortfolio 2000, a Web-based portfolio management system for registered investment advisors and broker/dealers.
The Buy Side Hath Decreed... Vendors of buy-side technology are constantly scrambling-and some tripping-to better accommodate the changing needs of money managers.
Denver Investments Selects Eze Castle's OMS Denver Investment Advisors has selected Eze Castle's order management system, Trader's Console.
Electronic Connectivity Empowers Buy Side, Threatens Sell Side According to the results of a study, nearly one half of the buy side respondents claim that they will in the near future trade only with firms that accept order flow and send execution reports electronically.