Archipelago Plunges into Options Trading
Archipelago agrees to acquire the Pacific Exchange's options business. The electronic stock market envisions trading options along with stocks through its platform.
Conroy to Head Desk at BNY
BNY Brokerage has appointed Anthony Conroy, a seasoned buy-side trader, to serve as managing director and head trader.
CBOE Banks on Hybrid 2.0
After recently completing the rollout of its first Hybrid system, the Chicago Board Options Exchange (CBOE) is rolling out the second phase of its hybrid market.
Bloomberg Offers Buy Side a One-Stop Shop
Bloomberg launched a multibroker execution management system (EMS) that bundles access to brokers' algorithms with pre- and post-trade analysis, trading blotters, and benchmarks to help traders improve their performance.
Arcades -Coming to a City Near You
Do you want to trade options using state-of-the-art technology while feeling the camaraderie and buzz of a trading floor without dealing with the bureaucracy of a large firm?
On Jan. 11, executives from the nation's six options exchanges trekked to Washington, D.C., for their annual meeting with the SEC.
A Note From The Editor
Wall Street & Technology proudly introduces Advanced Trading, a quarterly publication that focuses on the sophisticated strategies and technologies that are driving the future of trading.
Nexa Launches Black-Box System; PAETEC Pushes IP Technology; Portfolio Analysis Goes 3-D
During the past few years, the financial-services industry invested significant resources in implementing enterprise application integration (EAI) technology solutions to foster real-time connectivity of applications and sharing of information among internal enterprise systems as well as with external partners' systems.
CIO Challenge -- VoIP
Managing traditional analog hoot-n-holler networks, which are critical to investment management firms' operations, can be expensive and challenging, so many CIOs are eyeing alternatives. For some, the answer is IP telephony.
IT Portfolio Prowess
Investment managers aren't the only ones who need to manage portfolios. Now, the CIO does, too.
The demand for separately managed accounts is fueling the financial industry's interest in portfolio manufacturing technology. Wealth managers that automate and implement customized portfolios with assembly-line efficiency are bound to profit from the trend.
Hedge Fund Services Heat Up
Prime brokers, fund administrators and technology providers are all targeting hedge funds with increased services offerings.
A Watchdog to Watch
No longer neglected or rudderless, the SEC and CIO Corey Booth plan to make great strides to reshape its IT culture.
Making Monte Carlo Work
A recent NASD rule change gives brokers at Commonwealth Financial Network a new tool to add in their investment analysis arsenal.
Is Lehman Brothers offering pre-trade analytics and/or algorithmic trading to its buy-side clients? If so, what are the technology challenges and the benefits associated with these offerings?
Security Is Top of Mind
The financial services industry will see an increase in security professionalism this year, predicts Jonathan Gossels, president of SystemEXPERTS, a Sudbury, Mass.-based security consultancy.
Financial institutions that want to boost their retail investment businesses need to provide better support to their reps and advisers, according to a recent study by Financial Insights.
Regulators in the Driver’s Seat
Regulation is here to stay and remains the No. 1 driver for IT organizations within securities and investments businesses for 2005, says recently released research by TowerGroup.
The New Investment Manager
Investment managers are becoming more sophisticated in the technology they use and the services they offer.
CME CEO Donohue Sees Growth in Futures
According to Chicago Mercantile Exchange (CME) chief executive officer Craig Donohue, the CME is a significant indicator of a future of substantial growth in the futures industry.
Trading Newsflashes: Liquidnet Sells Minority Stake for $250 Million
Liquidnet Sells Minority Stake for $250 Million; Instinet Europe Partners With Orc Software to Expand Direct-Access Biz; Tamesis Integrates Markit Data Into Credit Trading Platform; Patsystems Lands Contract With Tokyo Grain Exchange; CBOE Picks etvMEDIA to Provide Streaming Video
Administrator Oversight on the Minds of Investment Managers
As hedge funds stay on track to hit the $1.5 trillion mark in 2006, more investment managers will face the task of having to choose and oversee third-party hedge fund administrators. As the looming February 2006 hedge fund rule puts more pressure on firms in terms of transparency and accountability, selecting the right vendor for the job will prove even more crucial.
Trading: Penson FX Trading System Lands Orion Securities as First Client, and more.
Penson FX Trading System Lands Orion Securities as First Client; Bloomberg Launches Morgan Stanley Calculator for Credit Derivatives; Robert Van Securities Goes Live With Tradeware for Direct-Market Access and MarketCenter for Global Order Routing; Lehman Brothers Completes FIX for Fixed Income Certification via TransactTools' Testing Service
Alternative Investment Tools
As hedge funds gain wider acceptance in the wealth-management space, investment advisers struggle to determine how they fit into their clients' portfolios. And, without the appropriate tools to support retail clients' investment decisions, the confusion likely will continue.
The buy side is taking more control of its trading decisions while looking for faster, lower-cost and anonymous executions. Direct market access (DMA) tools permit buy-side traders to access liquidity pools and multiple execution venues directly, without intervention from a broker's trading desk.
Risk in a Real-Time World
The world is getting riskier. Not only has geopolitical strife changed compliance risk, but new trading, governance and capital-allocation mechanisms are changing traditional risk measures as well.
Setting Sights on China
As China emerges as a land of opportunity, U.S. firms are flocking there to set up shop. The first step is to assist Chinese broker-dealers and exchanges with governance issues and trading technology.
Chief information officers are embracing a new way of managing the projects that take place throughout their vast domains: viewing them as if they are part of a financial portfolio, with each project representing an investment that has its own goals and risks.
Hardware & Software
As part of the extreme makeover of the National Market System, the SEC's Reg NMS proposes that market centers route orders to the venue that offers the best price.