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News & Commentary
Content tagged with Trading Technology posted in November 2007
Pragma and Weeden to Launch OnePipe to Manage Fragmented Liquidity Across Dark Pools
News  |  11/28/2007  | 
Pragma Financial Systems LLC and partner Weeden & Co LP plan to launch a liquidity management system in January that will allocate orders among over 30 dark pools.
Expect Continuous Change to Accelerate in 2008
News  |  11/27/2007  | 
The summer of 2007 credit crisis served as a wake-up call for the securities industry, and a host of business drivers and technology trends will reshape the markets in 2008.
Retail Traders Apply Algorithms to FX
News  |  11/27/2007  | 
"We're seeing retail traders now come in building their own models and who are involved in high-frequency trading," says Thomas Plaut, CEO of online foreign exchange broker FX Solutions.
Predictive Analytics and Complex Event Processing Technology Move to Cutting-Edge of Financial Services Industry
News  |  11/27/2007  | 
Financial services companies are analyzing rising data volumes with predictive analytics to glimpse the future, segment consumers, build stronger customer relationships and reduce fraud.
Identity Theft Top Priority for State Legislators
News  |  11/27/2007  | 
More than 200 bills are currently pending at state level.
2008 IT Budgets Up More Than 10% for Financial Services Firms
News  |  11/27/2007  | 
Despite a difficult year, most financial services firms plan to increase their IT budgets for 2008. But priorities differ across the capital markets, banking and insurance sectors.
News  |  11/27/2007  | 
Banks' inability to price and measure risk on complex financial products is alarming and needs to be improved to avoid another market meltdown.
Equity Transactions Boom Across Global Exchanges
News  |  11/27/2007  | 
Equity transactions increased by an average of 44 percent in 2007.
For Wealth Managers, Specialization Trumps Generalization
News  |  11/27/2007  | 
Consultative wealth managers earn three times more than traditional financial advisors.
Fully Equipped NYC Offices to Be Offered to Startup Hedge Funds
News  |  11/27/2007  | 
For startup hedge funds and existing hedge funds that would like to have an office in New York City, Eze Castle Integration announced today it's going to start offering "managed suites" at 529 Fifth Avenue and 44th Street (near Grand Central Station) early next year. The company will provide office space, computers loaded with basic office software, market data feeds, Blackberry services, a telecom infrastructure, conference rooms, a receptionist, a 24x7 help desk, a shared data center, disaster
New Model Attempts to Price CDO Options
News  |  11/26/2007  | 
In the aftermath of the CDO (collateralized debt obligation) crisis, for firms that are ready to dive into securitized credit products again, a new pricing model came out today for valuing exotic credit products such as options on tranches and forward starting CDOs (a forward starting CDO is a single tranche CDO with a specified premium starting at a specified future time).
Independent Research Continues to Grow in Popularity in 2008
News  |  11/26/2007  | 
As the buy side demands more forms of alternative research, brokers will continue to create new CSAs and sign up additional independent research providers.
Derivatives Processing Will Attract More Dollars, Attention in 2008
News  |  11/26/2007  | 
It's no longer just about efficiency -- automating derivatives processing can prevent costly mistakes that will be compounded by market turns.
Technology Executives Have a Need for Speed
News  |  11/26/2007  | 
Analytics, risk management and integration will top financial services IT executives' to-do lists in 2008.
Be Careful of The Transparent OTC Market
News  |  11/26/2007  | 
Be careful what you wish for. A transparent over-the-counter (OTC) market could cause liquidity to dry up.
BGC Appoints Clive England as head of e-commerce for North America
News  |  11/26/2007  | 
AS head of e-commerce at BGC, Clive England will develop hybrid trading applications in the U.S., leveraging the company's technical backbone in the U.K.
GAIN Hires Andrew Haines as CIO
News  |  11/26/2007  | 
As CIO, Haines will be responsible for overseeing trading and business application development, infrastructure applications and business continuity planning.
Citisoft Appoints Clark as Global CEO
News  |  11/26/2007  | 
Clark will focus on growing the company's business in Australia and Asia.
Data Security: An Increasingly Daunting Task
News  |  11/26/2007  | 
With more data privacy regulations in the pipeline and a focus on outsourcing, companies must ensure they are protecting data both internally and externally.
Streamlining Global Compliance
News  |  11/26/2007  | 
Globalization continues to be a trend, and companies are finding they can't manage current global compliance requirements efficiently.
Wall Street Firms To Globalize IT in 2008
News  |  11/26/2007  | 
Markets in Asia and Latin America are growing more lucrative, and investment banks and asset managers are setting up shop overseas. But firms must globalize their IT to support international business.
Citi, Wachovia, Bank of America Among Firms to Step Up Green IT Investments in 2008
News  |  11/26/2007  | 
Virtualization, consolidation and remote desktops will be among the most popular initiatives.
Complex Event Processing Moves Beyond Algorithmic Trading
News  |  11/26/2007  | 
Risk Management is one of the areas in which firms are finding that CEP can help them gain a competitive edge
Demand for Quants Heats Up on Wall Street But Recruitment is Hard
News  |  11/26/2007  | 
As trading becomes more mathematical and firms look to revamp their risk management systems, the demand for quantitative skill sets is never ending.
Mutual Fund Shouts Out to Its Peeps in Generations X and Y
News  |  11/21/2007  | 
A new mutual fund attracts Generation X and Generation Y investors with a simple strategy: communicate with them in a way they can understand and relate to.
High-Speed Market Data
News  |  11/19/2007  | 
The line between market data and trading platform now has blurred.
Speeding Things Up With Infiniband and Hardware Acceleration
News  |  11/19/2007  | 
We're still operating under the assumption that there is no limit in terms of potential volume craziness during periods of high volatility.
Unified Communications for Capital Markets
News  |  11/19/2007  | 
The rationalization, certification and integration of communications tools with legacy desktop systems and proprietary applications will create competitive advantages for capital markets end users.
Asia Tops World for Money Laundering Risk
News  |  11/19/2007  | 
A global survey of senior anti-money laundering (AML) compliance officers identified Asia as the region currently experiencing the greatest increase in money laundering risk.
Electronic Trading in Asia: the Pitfalls and Opportunities
News  |  11/19/2007  | 
The opportunities and challenges of electronic trading in Asia was the focus of a roundtable discussion sponsored by NeoNet Securities today in New York.
Financial Services Outperform Other Industries in Records Management
News  |  11/19/2007  | 
Sixty-five percent of public and private organizations have not implemented enterprisewide records management policies.
Knight to Acquire Agency Brokerage EdgeTrade for FAN
News  |  11/19/2007  | 
FAN, the Find And Nail algorithm, created by agency brokerage EdgeTrade, has found a fan in Knight Capital Group. EdgeTrade's development of FAN, which simultaneously sprays aggregated dark pools and public markets and continuously moves an order in line with shifting liquidity, has led to a lucrative courtship by Knight, a full service broker-dealer, which announced its intentions to acquire EdgeTrade this morning for $59.5 million.
Iraq Stock Exchange To Begin Electronic Trading Early Next Year
News  |  11/19/2007  | 
Amidst some modestly hopeful signs that Iraqis' quality of life is improving (civillian deaths are down, portions of infrastructure have been restored) and that we're planting the seeds of capitalism in Iraq, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdul-Salam, said today that the exchange will start electronic trading early next year. It will also be open five days a week instead of the current three days.
Will the CDO Mess Place 2008 IT Budgets In Peril?
Commentary  |  11/15/2007  | 
With write-downs from subprime mortgage losses now approaching $50 billion, Wall Street firms may have no choice but to revise 2008 technology spending budgets.
StreamBase Rolls Out Reuters-Centric Complex Event Processing
News  |  11/15/2007  | 
StreamBase is announcing today that it's built a Reuters Market Data System-centric edition of its StreamBase Studio complex event processing software. StreamBase Studio itself is both an Eclipse-based graphical development environment and a CEP runtime engine that connects to all the major data feeds and can analyze those data streams in real time. Developers at about 50 Wall Street firms already use StreamBase Studio to build applications that rely on market data streams, such as automated tr
To Survive the Next Market Crisis, Be Like A Cockroach, Says Morgan Stanley Trader-Turned-Author
News  |  11/15/2007  | 
Richard Bookstaber, author of the book Demon of Our Own Design, offered some unique advice last night to financial firms that want to survive future crises (like the current CDO fiasco): Be more like cockroaches. Not in the sense of living in drainpipes and scurrying out at night to scare unsuspecting apartment and office-dwellers, as New York City cockroaches do, but in a survival-of-the-simplest ideal. While many "super designed" insects in ce
IBM Upgrades Direct, Low-Latency Delivery of Exchange Data
News  |  11/14/2007  | 
In their ongoing quest to reduce data latency in the delivery of market data to algorithmic trading programs, Wall Street firms are starting to take data feeds directly from the exchanges, cutting out middlemen like Reuters, Thomson and Bloomberg. IBM's recently-released WebSphere Front Office for Financial Markets 2.0 is one of the few products (Wombat offers another) that can accommodate this. "Customers have told us they're interested in having a platform that can handle data that isn't neces
Banks to Consolidate 144A Trading on Nasdaq Platform
News  |  11/13/2007  | 
A group of investment banks has decided to stop developing their own electronic trading platforms for 144A securities and instead share the single platform launched by the Nasdaq Stock Market.
Progress Apama Partners with FXall for Accelor Access
News  |  11/13/2007  | 
Progress Software announced that its Progress Apama algorithmic trading platform now offers access to FXall's Accelor foreign exchange anonymous electronic communication network (ECN).
EzeCastle Follows Its Hedge Fund Clients Across the Pond
News  |  11/12/2007  | 
In a sign of the rapid globalization of hedge funds, EzeCastle Integration, a provider of outsourced IT services and consulting for more than 450 hedge funds, announced today that it has set up a London operation. "Many of our clients are looking for one provider who can provide consistent service, policies and procedures in all the territories they're located, so they can easily do business across geographies," says Bob Guilbert, managing director. "It's natural for companies that are internati
Intel's Newest Transistors Are 20% Faster, Use 30% Less Energy
News  |  11/12/2007  | 
Intel this morning introduced a series of dual-core and quad-core server processors that run faster and consume less energy than previous versions. The new Intel Xeon 5400 server chipset can achieve front side bus speeds up to 1600MHz yet consumes only 80 watts of power.
Wealth Management Software Upgrade Helps Coconut Grove Compete in the Big Leagues
News  |  11/9/2007  | 
To combine big-city investment management services with small-town personal service to its affluent clients, Coconut Grove Bank, Miami, announced this week that it has deployed Sungard's WealthStation and Overlay platforms. WealthStation lets investment advisers provide financial planning and investment products through one system, and Overlay provides access to well-known money managers at large institutions. Together, they "help an organization like ours compete with the Citibanks of the worl
GoldBook 2007: Keith Dennelly Says Multi-AssetIs the Future at State Street Global Advisors
News  |  11/8/2007  | 
By the end of this year, State Street Global Advisors should have an end-to-end alternative investment platform that can handle OTC derivatives and swaps, says SSGA Chief Technology Officer Keith Dennelly. Listen to this episode
Most Financial Institutions Will Be Green By 2012, Gartner Says
News  |  11/7/2007  | 
In a research note released today, Richard J. De Lotto, principal analyst, banking industry advisory services at Gartner, declared that financial firms will step up their focus on green IT through 2012. "Environmental issues will rise up on political, media, enterprise, investor and consumer agendas through 2012," he stated in the note. "The financial services industries will not escape this profound change in stakeholder focus, and their IT departments will bear the brunt of the impact.
Carnegie Mellon, General Motors Roll Out Best Practices Model for Buying Software
News  |  11/7/2007  | 
Although they don't like to be considered "CMMI zealots," most major Wall Street firms use CMMI methods for software development and require outsourcers to do the same. Today, Carnegie Mellon's Software Engineering Institute, with help from top IT executives at General Motors, the Department of Defense and the Government Accountability Office, rolled out an extension to CMMI, called CMMI for Acquisition, that provides a framework, a standard and a common language for buying (rather than developi
CEO Crisis at Citi and Merrill: How About a Crash Course in Risk?
News  |  11/6/2007  | 
The swift ouster and resignation of two powerful Wall Street CEOs within a week of one another shows there is a serious management void in the executive suite of financial institutions that went whole hog into derivatives tied to sub-prime mortgages.
Financial Execs Preview Next-Generation Mobile Technology
News  |  11/5/2007  | 
Whether or not to deploy mobile applications is no longer a valid question for the 214 executives attending today's Financial Mobility Summit in Boston. These execs, from firms such as MFS, Evergreen Investments, American Funds, Eaton Vance and Alliance Bernstein, are all old hands at delivering applications via Blackberry to at least one group of constituents, be they portfolio managers, wholesalers or institutional investment managers.
Colombia Stock Exchange Builds A Scalable SOA Platform
News  |  11/1/2007  | 
Although its climate is hotter, its industries more diverse and its market smaller, in some respects the Colombia Stock Exchange looks like any U.S. or European exchange. It grapples with the same technology issues -- such as how to get data latency below a few milliseconds and how to build an IT infrastructure that can easily scale and withstand market volatility and surges - that plague any exchange or firm with a large trading floor.

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