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News & Commentary
Content tagged with Trading Technology posted in May 2007
FX Electronic Trading to Reach 60% by 2010
News  |  5/31/2007  | 
Electronic trading in FX will exceed 60% by 2010, says Tom Price, TowerGroup senior analyst, at the research firm's annual Financial Services Conference and Exhibition in Boston. In Price's seminar "Foreign Exchange: Old World and New World Market Growth", he described how FX trading has evolved and how it will continue to evolve into a highly automated marketplace similar to the equities market. He notes that FX average daily volume will exceed $3 trillion in 2007, with more than 45% of tradin
Hong Kong Hedge Fund Sets signs on with TradingScreen and Imagine for execution management and compliance.
News  |  5/31/2007  | 
As fund managers tap Asia for Alpha, Dragonback Capital taps TradingScreen and Imagine as an execution management and compliance system for equities and derivatives.
Is Multi-Asset Trading Dead on Arrival?
Commentary  |  5/31/2007  | 
Multi-asset trading shouldn't be written off so quickly. More products are electronically traded, and investors are changing the investment dynamic.
Northern Names Geographic-Specific Transition Management Leadership
News  |  5/31/2007  | 
Grant Johnsey to head Northern Trust Blobal Investments' (NTGI) North American transition management operations, with Simon Hutchinson leading international operations
Symark Software Releases PowerBroker 5.0
News  |  5/31/2007  | 
Software is designed to enhance security and simplify delegation of administrator priveleges.
News  |  5/31/2007  | 
Advisers can use the Wealth Designs platform to gather information about their clients' objectives and automate the production of investment proposal recommendations.
Towergroup: US Exchange IT Spending Is Slowing
News  |  5/31/2007  | 
Although many US exchanges are enjoying increased valuations after much publicized IPOs, most exchanges will spend less on technology over the next few years as they answer to shareholder pressure, work to reduce IT expenses and focus on consolidating data centers, said Dushyant Shahrawat, research director for Towergroup's Security & Capital Markets service, at the Towergroup Financial Services and Business Technology
Eagle Investment Management Solutions Suite Version 8.0 Launched
News  |  5/31/2007  | 
Eagle Investment System's version 8.0 also introduces the Eagle Data Mart, which enables clients to generate information for access using third-party report and query tools.
Towergroup Coverage: Let's Meet for Dinner on the Floor of the NYSE
News  |  5/31/2007  | 
It was only four short years ago when Robert Hegarty, the managing director for Towergroup's Securities & Investments practice, made the statement that the NYSE trading floor will never go away. How quickly things change. In his presentation today at this year's Towergroup Financial Services and Business Technology conference, Hegarty joked, "Oops, I'm eating crow on that one, but soon we will all be eating
Business Analytics: Transforming Intelligence into Action
Commentary  |  5/31/2007  | 
The challenge for most capital markets firms is not a lack of raw data, but a lack of context and insight based on that information.
AIIM Industry Watch Survey Shows Records Management Problems Prevail
News  |  5/31/2007  | 
Twenty percent of large organizations report that no department within the company has specific responsibility for managing electronic records, AIIM Industry Watch survey says.
Indentity Theft-Related Data Breaches Inceasingly Stemming From Laptop Theft
News  |  5/31/2007  | 
When it comes to these six security technologies, well-known doesn't mean widely used. But maybe they should be.
A.G. Edwards Purchase Will Strengthen Wachovia
News  |  5/31/2007  | 
This morning, Wachovia announced that it will buy A.G. Edwards for $6.8 billion in cash and stock. The deal is expected to form the second largest retail brokerage in the U.S. after Merrill Lynch. The combined firm will have almost 14,800 financial advisors and 3,300 brokerage locations. Industry observers give the merger a thumbs-up. "Post-acquisition, Wachovia's business model will be unique as it will be one of a few firms that are top three in retail banking as well as retail brokerage,"
Goldman's SIGMA X Breaks Volume Record
News  |  5/30/2007  | 
The race among the dark pools to top each other's volume figures is heating up. Last Friday, Goldman Sachs disclosed via email that its alternative trading system SIGMA X executed over 100 million shares on a single data, Thursday, May 25th. According to Goldman, 103 million shares were crossed and the notional value traded was $3.7 billion in 2,837 unique symbols. Average daily volume in the ATS has grown 47 percent month-to-month.
Messaging Delays A Major Worry For Traders, Brokerages
Commentary  |  5/30/2007  | 
Most brokers have stated that exchanges — large and small, new and established — have had problems at various times either processing the number of orders received or handling the various messages that are sent back and forth between market participants.
U.S. Institutes Risk-Based Portfolio Margining
News  |  5/30/2007  | 
New risk-based portfolio margining rules likely will produce significantly lower margin requirements for many investors.
Barclays Risks ABN AMRO Acquisition To Move More Than 10,000 Positions Offshore
News  |  5/30/2007  | 
Barclays says it would also cut outright 12,800 staff positions if its plan is approved by ABN Amro shareholders.
Market for Wealth Management Compliance Systems Set to Jump 15% by 2011
News  |  5/30/2007  | 
Investment advisors are expected to spend the most as they are among the fastest growing but most regulated group of advisers. But hedge funds are also likely to increase spending.
Tata Spins Off Financial Software Unit
News  |  5/28/2007  | 
Having witnessed a surge in demand for its financial software offerings - from 150 financial services customers in fiscal year 2006 to 214 financial customers in FY 2007 - Tata Consultancy Services tomorrow will set its financial software group loose as a new entity called TCS Financial Solutions. The group will be headed by N. Ganapathy Subramaniam and have 2,560 employees, 1,800 of them developers. The existing product suite, called BANCS, includes software for CRM, core banking, global custo
Update on BondDesk Story
News  |  5/25/2007  | 
Since posting the story "BondDesk Gives Odd-Lot Fixed Income Marketplace an Institutional Makeover", I received a few comments disputing that BondDesk was the first ATS to focus on odd-lot executions. I am not qualified to make this judgment on my own so I'd like to share with you what folks had to say. One reader who posted a comment, said: "This is incorrect. BondExpress, BondTrac and
Brokerage Firms Are Starting to Use Digital Rights Technology to Protect Their Research
News  |  5/25/2007  | 
To prevent plagiarism and other unauthorized access to their research, brokerage firms are starting to add digital controls.
Technololgy Can’t Beat Inherent Data Latency, TABB Group Report Says
News  |  5/25/2007  | 
The inherent latency in routers, switches and other equipment accounts for most latency in networks, not the cables.
Data Latency Playing An Ever Increasing Role In Effective Trading
News  |  5/25/2007  | 
Wall Street's quest to process data at the speed of light relies on the physical proximity of servers to overcome the technical barriers of data latency.
Barclays Capital Enhances FX Algo Offering
News  |  5/24/2007  | 
Barclays Capital, the investment banking arm of Barclays Bank, has enhanced its recently launched algorithmic trading tool for FX trading. The tool is called PowerFill Orders, and is available on the firm's BARX execution and post-trade platform.
BondDesk Gives Odd-Lot Fixed Income Marketplace an Institutional Makeover
News  |  5/23/2007  | 
BondDesk Group is expanding its electronic fixed-income marketplace for odd-lot securities into the institutional investment community, the company will announce on Friday. "We've been driving hard to get this platform out to the buy-side marketplace," says Peter Harker managing director at BondDesk Group, which has been quietly evolving BondDesk Institutional (BDI) into a product. BondDesk currently aggregates inventory from over 110 brok
ABCs of Development Methods
News  |  5/21/2007  | 
A quick primer on some common development methods and practices.
Algorithms Finding A Foothold In Fixed-Income Markets
News  |  5/21/2007  | 
Although algorithms are showing up in the fixed-income markets, they're being used quite differently than the typical equity algorithms.
Surge In Fixed Income Trading Drives Need For A Single Data Management Platform
News  |  5/21/2007  | 
Recent surge in trading volume products in the U.S. has spurred a need for a single platform that can manage data across asset classes, instruments, and region, Aite Group report says.
Latest Market Data Dispute Over NYSE’s Plan to Charge for Depth-of-Book Data Pits NSX Against Other U.S. Exchanges
News  |  5/21/2007  | 
In the market data debate over depth-of-book fees, the NSX is taking sides with the broker-dealer community, pitting it against the NYSE.
20 Year Wall Street Data Veteran Roseann Palmieri Joins Merrill Lynch
News  |  5/21/2007  | 
Roseann Palmieri, a 20 year Wall Street data management veteran most recently with Bank of America Securities, has joined Merrill Lynch.
Wall Street Firms Turn to Best Practices Models to Speed Up Software Delivery
News  |  5/18/2007  | 
Wall Street firms' insatiable appetite for new applications, delivered faster and with fewer bugs, is driving top technology executives at Merrill Lynch, HSBC and Mellon to pursue best practices for IT.
DTCC Hires Citigroup Risk Veteran Douglas George
News  |  5/18/2007  | 
Douglas George, who has risk management experience with such companies as JPMorgan and Citigroup, will lead The Depository Trust & Clearing Corp.'s (DTCC) enterprise risk management (ERM) efforts.
Creditex Acquires Stake in Trade Settlement Inc.
News  |  5/16/2007  | 
Eyeing the market for loan-only credit default swaps, Creditex Group has acquired a minority stake in Trade Settlement Inc. (TSI), a privately held company that operates a post-trade processing platform for syndicated bank loans. As part of the transaction, both companies are also announcing a partnership between TSI and T-Zero, an independently managed subsidiary of Creditex Group,
How Will the Thomson-Reuters Marriage Affect Customers?
News  |  5/16/2007  | 
Now that Thomson and Reuters have officially agreed to merge, pending regulatory approval (which may take a long time), the question is, how will this combination affect the two companies' market data customers? How will pricing and customer service change? "For most of us, it's tough to fathom these two firms coming together because they've been competing with each other for so long," says Sang Lee, managing partner, Aite Group. "But overall it's a good fit and the combined companies will pro
NASD Issues Guidance for Reg NMS Trade Reporting
News  |  5/15/2007  | 
As brokers prepare to comply with the Pilot Stocks Phase of Regulation NMS scheduled for July 9th, the NASD issued guidance last week clarifying how member firms should report their trades to the tape. The notice provides guidance on how to use the NASD's new transaction reporting modifiers when brokers are reporting trades that are exceptions or exemptions to Rule 611 of Reg N
Bear Stearns Sounds the Death Knell for Its Specialists
News  |  5/14/2007  | 
The next domino toppled today for floor-based specialists, as Bear Stearns announced it will write down the value of its specialist business, Bear Wagner, by $225 million. Firms all along Wall Street have been re-evaluating their specialist staff as the New York Stock Exchange has i
Maxim Group Steps into Algorithmic Space via Fidessa BlueBox
News  |  5/9/2007  | 
Moving into the algorithmic trading space while retaining control over its order flow, New York-based Maxim Group LLC, has gone live with Fidessa BlueBox, a suite of algorithmic trading strategies from Fidessa Group. Maxim Group has been a sell-side client of Fidessa's order management system since March of 2006 in offering OTC and listed trading to their clients, according to Martin Hakker, EVP
SIFMA Market Structure Report: Brokers Wait for Clarifications on Block Trades as July 9 Reg NMS Implementation Approaches
News  |  5/8/2007  | 
Broker dealers are waiting for regulators to clarify certain issues in advance of the July 9 Reg NMS implementation date, according to a panel at the Securities Industry and Financial Markets Association (SIFMA) Market Structure conference last Friday. The majority of the unresolved issues are around the block trade exemptions, when to time the trade and print to the tape and sweep and what to do with the residual that is left over, said Christop
NYSE Euronext Unveils NYSE TransactTools As Global Backbone for Accessing Liquidity Worldwide
News  |  5/2/2007  | 
Now that the merger of NYSE Euronext is complete, the global exchange conglomerate has begun to roll out a commercial technology business that will provide connectivity to liquidity sources around the globe. Last week, NYSE Euronext introduced NYSE TransactTools, a broad technology brand that integrates the newly acquired TransactTools with the SFTI network and SIAC's Sector ma

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