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Digital Gold Book 2006: Barclays Global Investors' CTO Derek Stein Fosters Innovation Listen to this episode By Beth Stackpole, Contributing Editor CTO Derek Stein says that Barclays Global Investors is working to align business with technology to support growth, all while fostering innovation by implementing SOA applications to continually roll out new products. Stein also says there's an ongoing push at Barclay
Digital Gold Book 2006: AMEX CIO Antoine Shagoury Prepares the Exchange's Hybrid Trading System for Reg NMS Listen to this episode By Ivy Schmerken, Wall Street & Technology The AMEX will be introducing AEMI, it's new hybrid trading system for equities and ETFs later this year to be fully operational and compliant with Reg NMS, says AMEX CIO Antoine Shagoury. Also, Shagoury discusses his plans to consolidate multiple asset classes
Digital Gold Book 2006: Michael Bundy, CTO, Instinet Listen to this episode By Greg MacSweeney, Wall Street & Technology Mike Bundy's experiences earlier in his career have instilled an entrepreneurial spirit in his IT development philosophy and are helping to change the shape of the IT department of Instinet, where Bundy is CTO. Since joining the execution-only broker in August 2
Electronic Trading Newsflashes: Creditex Is Merging With CreditTrade to Beef Up its Position in Credit Derivatives Execution and Processing Services, and more Creditex Is Merging With CreditTrade to Beef Up Its Position in Credit Derivatives Execution and Processing Services, Technology Crossover Ventures Invests $77.5 million in FXall Foreign Exchange Trading Portal, International Securities Exchange Says Three New Partners Join the ISE Stock Exchange - MidPoint Match
Symmetry Capital Implements Advent Software, and more Symmetry Capital Implements Advent Software, SunGard Makes Bid for System Access, Linedata Upgrades Beauchamp FundManager
Investment Management Newsflashes: UBS and Bank of Cyprus Get the Midas Touch, and more UBS and Bank of Cyprus Get the Midas Touch, Bisys Enhances WealthSolutions SMA Platform, Barclays Global Investors Implements Performance Explorer Service, Mutual Fund Store Chooses Tamarac
Compliance Newsflashes: NASD Head Glauber to Retire, Schapiro to Take Over, and more Glauber Out Schapiro In, Trintech and BWise Partner, CipherPass and PostX Join Forces for E-mail Encryption
Digital Gold Book 2006: Kevin Murray, AXA Equitable Listen to this episode By Cory Levine, Wall Street & Technology In last year's Gold Book AXA Equitable CIO Kevin Murray spoke about his initiative to Web-enable AXA's business applications and replace the administration of product, service and distribution rules. Wall Street & Technology's Cory Levine spoke with Kevin who conti
Digital Gold Book 2006: Gerry O'Connell, CIO, CBOE Listen to this episode By Ivy Schmerken, Wall Street & Technology After working extensively on its options match engine, CBOE is venturing into electronic stock trading, says the exchange's CIO, Gerry O'Connell. Also, O'Connell discusses how his exchange is planning to tap overseas labor markets like India to staff consulting
WS&T Risk Management Blog The Wall Street & Technology Risk Management Blog is dedicated to risk management professionals in financial services who are looking for more information, latest trends, news and opinions on matters related to managing risk at a financial services organization. At the blog, updated frequently by WS&T's editors and special contributing bloggers from various Wall Street firms, readers will find an interactive forum to share ideas and comment on the latest news and trends.
Digital Gold Book 2006: John H. Deane, CIO, AIM Management Group Listen to this episode By Beth Stackpole, Contributing Editor While AIM Management Group is a global company that's organized individually, the firm wants to install the same system and processes company-wide. It's an exercise in standardization while giving the businesses flexibility that's pertinent to their markets and functi
Digital Gold Book 2006: Tom Sanzone, CIO, Credit Suisse Listen to this episode By Cory Levine, Wall Street & Technology Tom Sanzone, corporate CIO for Credit Suisse, is in the midst of the three year OneBank integration program, which will bring together the firm's investment banking, private banking and asset management divisions to tap
Lord, Abbett & Co. Conducts Infrastructure and Web Site Enhancements to Improve Security Building proprietary systems for fixed-income modeling and trading, improving information security and adding new Web site capabilities are all part of CIO Michael Radziemski's plan at Lord, Abbett & Co.
Credit Suisse Has a Plan to Integrate Its Three Divisions, and CIO Tom Sanzone is Up to the Challenge Tom Sanzone, corporate CIO for Credit Suisse, is in the midst of the three year OneBank integration program, which will bring together the firm’s investment banking, private banking and asset management divisions to tap into cross-business opportunities.
Raymond James Financial Looks to CRM, Income Processing and a Financial Planning Package Tim Eitel, CIO for Raymond James Financial, directs the company with an eye on installing a corporation actions income processing system, Tata Consultancy Services’ NCS system; the installation of a customer relationship management system, Microsoft Dynamics; and the rollout of Sungard’s financial planning package, PlanningStation.
Compliance Newsflashes: U.S. Regulators Seek Comment on ID Theft Rule Proposal, and more Regulators Address ID Theft With Rule Proposal, NASDAQ Gets SEC Approval for Systems Integration, SEC Swears in Casey as Commissioner, Ariel Capital Management Chooses Salesvision for 22c-2
Investment Management Newsflashes: M.D. Sass Live on SunGard’s IM Power, and more M.D. Sass Live on SunGard's IMpower, Thomson Partners With Business Architects, UBS Opens High Net Worth Office in U.S., Northern Trust Appoints Head of Global Investment Solutions
Operations Newsflashes: Deutsche Borse Integrates EDI Reference Data, and more Deutsche Borse Integrates EDI Reference Data, Freddie Mac Taps JPMorgan for IT and Securities Services, Charles Schwab Bolsters Capacity With IBM, Apacs Signs With Attenda for Disaster Recovery Services
Trading Newsflashes: NYSE Group Acquires Crossing System Technology NYSE Group Acquires Crossing System Technology From MatchPoint Trading, Liquidnet Canada Obtains Regulatory Permission to Trade Canadian Equities on Electronic Marketplace, Merrill Lynch Incorporates Wall Street Source Dashboard Into Electronic Trading Services, Reuters and CME Reveal First Group of Financial Institutions, Participating in FXMarketSpace
Welcome to the Digital Gold Book 2006 By Greg MacSweeney, Wall Street & Technology Each August, Wall Street & Technology releases the Gold Book, a compilation of profiles from many of the industry's most influential and innovative technology leaders from firms of all sizes: buy-side firms, sell-side firms and even the exchanges. The 2006 Digital Gold Book has podcasts with 11 buy-side technology heads, including Janus Capital's Andrea Young and Mellon Financial's Kevin Shearan, and podcasts with 7 Exchange technology leaders, inclu
Bank of America Moves Forward Vlad Torgovnik, Managing Director of Corporate Investment and Corporate Treasury Technology at Bank of America, reengineers from front-office margining and trading through middle-office and back-office operations, focuses on instrument and client reference data as a foundation for evolving across silos, and enhances common securities infrastructure fo increase the percentage of automated cash transactions.
The Vanguard Group Improves Its Advice Engine, Information Access Security and the Client Experience Upgrading Vanguard Financial Plan customer advice engine, delivering two-factor authentication for its shareholders and collaborating with clients to personalize their experience with The Vanguard Group are all on Managing Director and CIO Tim Buckley's agenda.
Project Enhance, Prime Broker Globalization, and Development of Equity Analytics and Systematic Trading (EAST) Are Key Initiatives for Bear Stearns & Co. Bear Stearns CIO and Director of E-Commerce Peter D. Cherasia initiates Project Enhance to position subsidiary EMC Mortgage Corp. for growth, extends Prime Broker Globalization project to streamline processes, and continues the development of Equity Analytics and Systematic Trading (EAST) to further the company's trading position.
State Street Corp. Is Building Out Its Outsourcing Service Along With Its Client Portal Joseph Antonellis is intent on technology upgrades as he oversees the fusion of State Street Corp.'s IMS Enterprise outsourcing service technology with the firm's core infrastructure and develops the next-generation of the interactive client portal mystatestreet.com.
Processing Information More-Readily and Mobile Information Access Are in Putnam Investments' Near Future Senior Managing Director and CTO Philippe Bibi is taking advantage of 64-bit technology to gain more in-memory distributed processing at Putnam Investments and is upgrading mobile information access capabilities.
BMO Capital Markets Focuses on Data Integration, Business Management and Straigh-Through Processing BMO Capital Markets Managing Director Trent Gavazzi integrates and reference and client data, enhances business management platform with that data, and reviews straight-through processing platform to increase efficiency.
Credit Infrastructure Transformation, Credit Flow Trading and Securitized Products Trading in the Queue for JPMorgan Investment Bank Michael J. Ashworth, CIO of JPMorgan Investment Bank, part of JPMorgan Chase & Co., directs the company's attention to a credit infrastructure transformation through a complete reengineering of the credit risk department; to credit flow trading with a rollout of an enhanced version of Murex to support trading flow business; and to securitized products training with a buildout of a U.S.-focused trading capability.
The Northern Trust Co. Focuses on Replacing Legacy Systems and Its Next-Generation of Passport In the months ahead, EVP and CTO Nirup N. Krishnamurthy will expand The Northern Trust Co.'s global reach with updated financial systems and investment capabilities, a single client repository and the next-generation of its client access portal.
Nicholas-Applegate Is Taking Advantage of Technological Advances to Improve Client Servicing and Lower Costs SVP and CTO Steve Rapp is centralizing applications at Nicholas-Applegate for improved efficiency and quality management, and providing salespeople mobile access to the CRM database for better customer service.
Mellon Financial Corp. Strives to Bring Information Together By Aligning Business and IT CIO Kevin Shearan drives business restructuring for improved workflow at Mellon Financial Corp. with enterprisewide information accessability, deep computing asset management and the relocation of data centers.
Ex-UBS Sys Admin Found Guilty, Prosecutors To Seek Maximum Sentence Prosecutors will seek an eight-year prison sentence for 63-year-old Roger Duronio, once a systems administrator for UBS PaineWebber, convicted Wednesday of launching an attack that brought down the company network.
Wachovia Corp. CIO Targets Customer Loyalty, Efficiency, and Mergers and Acquisitions Martin B. Davis, CIO of Wachovia Corp., makes customer loyalty initiatives, IT organization efficiency, and mergers and acquisitions top priorities
Equities Markets, Technology Infrastructure and Virtual Servers Are Top-of-Mind for ISE SVP International Securities Exchange SVP Daniel Friel plans to launch a midpoint match facility for trading stocks, invest in technology infrastructure and run multiple virtual servers on a single server.
PHLX Is Finetuning its Options Trading Platform to Compete in Penny-Quoting PHLX CIO Bill Morgan is enhancing PHLX XL, an electronic options platform, while building an electronic equity trading system with ECN functionality.
With the INET Integration Underway, Nasdaq's CIO Looks to Crossing Networks Next Nasdaq CIO Anna Ewing has a full agenda with the INET Integration, crossing networks and technology cost reduction on tap for 2006.
CBOE's CIO Ventures Into Stock Trading With CBOEdirect Match Engine CBOE's CIO Gerry O'Connell is going to move its CBOEdirect technology into stock trading so that CBOEdirect will run options, futures and stocks.
CME's CIO Expands Electronic Trading Into NYMEX Energy Contracts, Options and FX CME's CIO Jim Krause expands the exchange's share of electronic trading into NYMEX energy contracts, options on futures and the FX cash market.
Janus Capital Group Strengthens Workflows, Reporting and Access to Information SVP and CIO Andrea Young oversees the building of financial metrics and reporting systems at Janus Capital Group to streamline workflows, information access and control over compliance, leading to lower TCO.
Amex CIO Prepares to Launch New Hybrid System, AEMI, for Reg NMS Amex CIO Antoine Shagoury is ramping up the process to launch the exchange's new hybrid trading system AEMI to be ready for Reg NMS.
Domain-Based Phishing Attacks on the Rise MarkMonitor reports that domain-based phishing attacks now represent 73% of all phishing scams.
NYSE Group Continues With Hybrid Implementation, Options Platform, With CTO Steve Rubinow at the Helm NYSE Group CTO Steve Rubinow continues implementation of the hybrid market structure as well as the roll out of the Exchange's options platform. Rubinow also shares the story behind his ascent into one of the most visible technology positions in the financial services industry.
E*Trade Plans to Leverage New Web to Increase Market Penetration and Service Ubiquity Greg Framke, tech chief at E*Trade Financial reports that he is exploring the new and future capabilities of Web 2.0 as a means of expanding the online brokerage's platform and service offering. He also plans to extend the firms current offerings into new products such as lending and cash management.
ING Investment Management Chief Operating Officer Scott Fox Lays Out the Current and Future Technology Hurdles for His Business Scott Fox, COO of ING Investment Management, is out to improve risk management, enhance the trading system, and develop new product lines for the firm. He also intends to make a major push into the derivatives market in 2007.
GE Asset Management's Anthony Sirabella Focuses on Improving Data Governance Data management initiative leads GE Asset Management's SVP and CIO, Anthony Sirabella, to implement Wall Street Office loan management platform, develop a fixed-income attribution model and focus on enhancing trading and reporting capabilities.
Innovative Home Page Involves Fidelity Investments' Customers in Retirement Plan Development CIO Steven Elterich drives service improvements at Fidelity Investments by utilizing the Internet, bringing in active traders and engaging customers to find out what would benefit them the most.
TD Ameritrade's CIO Jerry Bartlett Focuses on Integrating TD Waterhouse Systems and Business Intelligence In 2007, TD Ameritrade's CIO Jerry Bartlett will also focus on increasing the advanced programmed trading capabilities for active traders as well as further developing analytics to predict customer behavior.
IT Matters Three years ago, Nicholas Carr created a firestorm when he hypothesized that information technology would become a commodity, like telephones, and that IT no longer would provide competitive advantage.
Barclays Global Investors Works to Align Business With Technology to Support Growth CTO Derek Stein innovates by implementing SOA applications to continually roll out products at Barclays Global Investors.
AXA Equitable Upgrades Customer Service, Reduces Expenses EVP and CIO Keving Murray is overseeing workflow automation projects at AXA Equitable set to streamline business sales and increase customer service.
AIM Management Group Works on Worldwide System Standardization AIM Management's SVP and CTO John H. Deane aims to keep the company flexible as it deploys technology across the globe to reduce costs and meet local and international compliance standards.