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Single-Stock Futures Markets: Where's The Fungibility? As the U.S. single-stock futures markets move closer to their debuts, some industry observers are questioning whether the markets are fungible enough.
Down Market Puts the Squeeze on Buy-Side IT Spending A recent report by Celent Communications looks at buy-side IT spending in the current economic environment.
ABN Amro Readies to go Live with Raft's Operational Risk Solution ABN Amro implements Raft International's Raft Radar, a Web-based operational risk platform.
ELECTRONIC TRADING * EDF Trading Limited installs programmable trading telephones from Syntegra.
* Gain Capital launches a mobile FX application dubbed Gain wireless.
* The IntercontinentalExchange launches an electronic trade confirmation application.
MARKET DATA * Thomson Financial and Grand Central Communications partner to deliver Web services to the financial community.
* Advent Europe and FT Interactive Data team up to deliver financial information to investment managers thorough a data-feed interface.
* The Financial Information Services Division of the Software Information Industry Association selects Gemini Systems to managing its billing/reporting facilitation project.
RISK-MANAGEMENT TECHNOLOGY * The Global Association of Risk Professionals announce new management changes and a return to its non-profit status.
* Wall Street Systems launch a new interest rate derivatives module.
INVESTMENT-MANAGEMENT TECHNOLOGY * EFG Private Bank Luxembourg is live with GLOBAL PORTFOLIO II and its Web module.
* CheckFree Corporation announces revenues of $124.6 million for the third quarter.
* Thomson Financial and Advent technologies are trying to level the information and technology playing field for investment managers.
OPERATIONS * Omgeo announces that 12 additional firms sign on as "Early Adopters."
* Mercator Software, Inc. signs a partnership agreement with Omgeo LLC.
* Trema announces that Bank of Valletta p.l.c. selects Finance KIT to streamline its business processes across its front-, middle- and back-off
Checklist for Assessing an Outsourcing Arrangement What are your firm's main objective for outsourcing?
How reliable is the outsourcer's solution?
Can the outsourcer grow with your needs?
BREAKING NEWS: UNX Set to Acquire Embarcadero Securities Merger unites direct-access vendor with agency-brokerage firm in pursuit of buy-side clients.
Instant Messaging Takes Off in Bond Market A consortium of eight Wall Street firms extended an instant-messaging network to 2,000 institutional investor clients.
TCW Outsources its Back Office to Mellon The completion of a major outsourcing deal by TCW Group may provide a blueprint for investment-management firms facing T+1.
FX Connect and FXall Benefit From Atriax Liquidity Defections Big banks are continuing their march away from the soon-to-be-defunct Atriax; JPMorgan Chase, Citibank and Deutsche Bank are now all providing their FX quotes to FX Connect and Fxall.
Caplin Releases New Market-Data Platform To Give Clients Control Over Data, Costs Building on its Real Time Text Protocol for delivering streaming-market data over the Web, Caplin releases a new data architecture.
ELECTRONIC TRADING * International Securities Exchange elects Ivers W. Riley as the company's chairman.
* NeoNet offers its clients a direct-electronic interface to the Euronext-owned stock market in Brussels.
* Hotspot FX files a registration to become a futures commission merchant with the Commodity Trading Futures Commission.
MARKET DATA * Thomson Financial partners with CCN and Fair Disclosure Network to provide conference call summaries and transcripts.
* Capital IQ and The Deal form a strategic alliance for future products and initiatives.
* Ed Mollahan is appointed to the Private Equity Standards Board.
RISK-MANAGEMENT TECHNOLOGY * Moneyline Telerate provides its market-data feed, workstation and Internet customers with access to Salomon Analytics' Yield Book Calculator.
* SAS will launch a new version of SAS Risk Management solution later this quarter.
* Decisioneering and Dataskill partner to develop Stochastic Modeling Workbench.
INVESTMENT-MANAGEMENT TECHNOLOGY * Bonaire Software Solutions announced a strategic alliance with Javelin Technologies.
* Close Brothers Limited selects GIS and its product, MFACT for its mutual-fund accounting and administration services.
* TD Waterhouse Institutional Services and Advent announce they have formed an alliance.
OPERATIONS * BrokerTec Clearing Company and GSCC announce that cross-margining between the two clearing organizations will begin April 19, 2002.
* Computer Sciences Corporation's operations and Wilco International announce that they enter into a strategic-alliance.
* James J. Mitchell, president of WWOT plans to retire on May 31, 2002; Timothy J. Theriault, executive vice president and chief technology officer, will succeed him.
Outsourcing: The Coming Wave in Investment Management Outsourcing becomes a hot topic in the investment management industry, because of market downturn and intensified competition for assets; investment managers are evaluating their core competencies and looking to hand off those areas which are unnecessary to keep in-house.
CSFB Reorganizes Global IT and Operations; CIO To Leave Credit Suisse First Boston's Chief Information Officer Frank Fanzilli announces his plans to leave the firm. CSFB announces a major restructuring of its information technology organization via an internal memo sent to the firm's 28,000 employees.
GSTPA's Crosby Answers Industry Concerns Following the announcement of major restructuring, the GSTPA's Steven Crosby answered questions at a recent industry conference about the future of Axion4, new outsourcing plans and the utility's financial condition.
E*Trade Acquires Tradescape E*Trade Buys Active Trader Platform, Tradescape.
Ameritrade and Datek Set to Merge; Deal Could Have Big Direct-Access Impact In a deal that will unite two of the largest online discount brokerage firms in the United States, Ameritrade and Datek have agreed to merge.
Reuters Re-Launches Reuters North American Capital Markets Product Building on its New Customer-Centric Strategy, Reuters Re-Launches Reuters North American Capital Markets Product.
ELECTRONIC TRADING * Doug Atkin resigns from his post as president and chief executive officer of Instinet.
* Citibank, Deutsche Bank, and JPMorgan Chase sign agreements to become liquidity providers in FXall.
* Transaction Network Services roll out its voice solutions application to financial-services firms in Boston, Los Angeles and Toronto.
MARKET DATA * HyperFeed Technologies provides international, streaming real-time market data for Sutton Trading Solutions' GlobalDAT trading applications.
* Fame appoints Dale Richards as CEO.
* Reuters acquires certain assets of Easetech Financial Systems for $9 million.
RISK-MANAGEMENT TECHNOLOGY * Meridien finds that in order to comply with new requirements, financial services firms need to enhance risk-management systems to support operational- and credit-risk initiatives.
* Daishin Securities selects Kamakura's Kamakura Risk Manager-VaR for its market risk analysis.
* The Professional Risk Managers' International Association forms a new regional chapter in Venezuela.
INVESTMENT-MANAGEMENT TECHNOLOGY * Indata announces that The Renaissance Group is now live with the Indata I.M.S. for Windows system.
* CheckFree Investment Services announces availability of MSP.
* Brut LLC implements the Financial Fusion Server with GlobalFIX in its production facilities.
OPERATIONS * CME and GSCC announce that cross-margining between the two clearing organizations will begin on April 12.
* JPMorgan announces that the FIA appoints JPMorgan Investor Services as global custodian.
* Pat Loret de Mola, of TSI, announces that its electronic-settlement solution receives a Microsoft Tech-Ed Business Productivity Award in the Best Cross-Product Integration category.
Redefining Investment Management Our Drilling Down on Investment Management, this quarter, is focused on wealth management -- a buzz word with many definitions.
Vendors Seek Wealth Management Holy Grail William O'Conor has to figure out how to combine the vast array of Thomson's technology solutions and turn them into an integrated wealth-management platform that attracts firms looking to service the growing high-net-worth space.
Financial Institutions Tackle Wealth-Management Technology The answer to your technology prayers will likely be a series of components or software solutions, depending largely on the size of your organization and how you approach wealth management.
Advisors Tool Up for Wealth Management Wealth management is a new twist on financial management that factors in a person's total financial picture, including investments, debts, insurance, credit and lending affairs.
Risk Managers Face Turbulent Times Wall Street has a penchant for scandals; many are being revealed, keeping risk managers and compliance officers extremely busy.
A Wealth Of Opportunity Clean data will open the doors for cross selling in financial services.
Good Data Unlocks Convergence Opportunities Clean data will open the doors for cross selling in financial services.
A Convergence in Progress The two-year convergence plan bringing J.P. Morgan and Chase together.
Breaking News: Atriax Plans to Shut Its Doors In somewhat of a surprise, 17-month-old online foreign exchange trading portal announces plans to cease operations.
New Thinking on Convergence Convergence is moving ahead, though more slowly than expected by some.
The Tangled Web of Deception Bringing back memories of the Barings fall in the 1990s, major losses at Allfirst and Lehman Brothers highlight the importance of risk management and the attention financial firms should be paying to internal threats.
Chivers heads ABN Amro's Futures Division; Ascher Named CEO; SunGard Hires Clarke Learn where some of Wall Street's executives have found new homes.
PRODUCT WATCH The latest releases from Wall Street vendors.
A Conversation With the LME's Simon Heale Simon Heale, the recently-appointed CEO of the London Metal Exchange, discusses the impact of Sept. 11 with WS&T.
Devices Merge Voice and Computing The latest developments in wireless gadgets bring together voice and computing.
Death of w-Tech Has Firms Rejecting ASP Model w-Technologies is dead. The questions is: Has it taken the ASP model down with it?
IT CHALLENGE As Web sites mature, they often grow as well. Learn how one firm managed to keep its pages under control.
Industry Insiders Ponder: Will the GSTPA Go Live With A Bang or a Whimper? Slips in its testing schedule have some in the industry skeptical about the chances of a successful GSTPA launch.
Buy-Side Dilemma: Managing a Global Operation Taking your buy-side operation across international boundaries brings to light a host of challenges.
Shakeup at GSTPA The GSTPA announces a new launch date, reveals restructuring plans and says it is in the market for a new data-center-service provider.