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LabMorgan To Cut Staff and Restructure Unit LabMorgan is being restructured to support client-focused activities, simplify and streamline the firm's environment.
ELECTRONIC TRADING BRIEFS The Boston Stock Exchange tabs Michael Curran to fill new position of executive vice president and chief information officer; Gain Capital is granted regulatory status as a FCM; Townsend Analytics integrates a stock scanner tool into RealTick direct-access trading system.
MARKET DATA BRIEFS Evault announces new service to provide financial institutions with tapeless backup solutions to protect back-office data; DataSynapse launches LiveCluster distributed computing system to improve performance; MidnightTrader launches MTNS for extended-hours equity market and activity on ECNs.
RISK MANAGEMENT TECHNOLOGY BRIEFS OpVantage releases version 4.0 of OpVar software; Eksportfinans selects SunGard Trading and Risk Systems' Panorama for risk management and processing in treasury operations; DePfa Group licenses the Kamakura Risk Manager software suite.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS SunGard announces the successful completion of a Web-browser interface to the PAL Service; Information Systems, Inc. announces that the County of Maui, State of Hawaii selects eQED; x.eye incorporated announces the successful completion of scalability testing for x.eye.wealth.manager.
OPERATIONS BRIEFS JPMorgan Investor Services announce the launch of the JPMorgan Trade Settlement Tracking and Relative Ranking System; The Government Superannuation Fund Authority of New Zealand awards JPMorgan Investor Services the Global Custody of approximately $3.4billion assets; SunGard announces plans to expand its presence in Asia-Pacific.
Reversal of Fortune: Tradeware In, OM Out at Reynders Gray &Co. In a role reversal, Tradeware has replaced OM as the order management vendor at the brokerage firm Reynders Gray.
TowerGroup's Tabb Questions T+1 Goal Coming on the heels of the SIA's T+1 postponement to June 2005, Larry Tabb of the TowerGroup says T+1 may not be the right goal for the industry at all.
Kiodex Takes Online Risk Management For the Energy Markets Kiodex, a provider of Web-based risk-management solutions for the commodity markets, has released its flagship Kiodex Risk Workbench application for energy markets.
Sept. 11 Attack Creates Great Demand on Hardware Suppliers Surprised at first by the influx of calls--wondering why people are thinking about monitors at a time like this----NEC answers the Street's plea for hardware.
ELECTRONIC TRADING BRIEFS Brut ECN plans to give money back to its broker/dealer customers; Syntegra names Ken Wortz vice president of operations for trading systems business in North and South America.
MARKET DATA BRIEFS Cantor Fitzgerald began distributing Treasury price data through additional sources after its exclusive arrangement with Telerate; The Fimat Group selects Radianz to deliver its electronic solutions to users via RadianzNet.
RISK MANAGEMENT Cygnifi files for Chapter 11 bankruptcy protection in New York; GNET implementes ADP/AMR's TradeThru ASP model for its derivatives transaction processing.
INVESTMENT TECH BRIEFS Advent Software expands its strategic relationship with The Reference; Financial Models Company announce the launch of FMCSylvan 5.1; CashEdge and PortfolioScope announce strategic alliance to provide institutions with enhanced multi-currency investment tracking and reporting services.
OPERATIONS BRIEFS CRESTCo and Omgeo publish their plan to streamline communication process from trade execution through to settlement for domestic and cross-border trades in U.K. securities; Omgeo announces the release of complete working software code for Omgeo Central Trade Manager.
Nasdaq Promotes Randich to CIO in Wake of Bailar's Departure Steve Randich is named chief information officer and executive vice president of operations & technology at The Nasdaq Stock Exchange.
SIA Extends T+1 Deadline to 2005 Citing economic pressures exacerbated by the Sept.11 attacks, the SIA has changed its T+1 deadline.
One Week Before Showtime, SWIFT Pulls the Plug On Sibos One week before the largest conference in banking and back-office technology was to begin, SWIFT, citing security concerns, says no go.
Actuate Releases eSpreadsheet Server To Deliver Reports over the Web as Excel Spreadsheets Actuate's eSpreadsheet Server allows money managers and financial analysts to create, manage and deploy Excel reports over the Web.
New Private Equity ECN Acquires Online Investment Bank Looking to increase its penetration in the private equity market, NYPPe has purchased Off-Road Capital.
BMA's Protocols/Standards Subcommittee to Merge with FPL's FIWG The Bond Market Association's Protocols/Standards Subcommittee will merge with FIX Protocol Ltd to develop a common industry protocol for global fixed income.
OPERATIONS BRIEFS Meridien Research claims the underlying infrastructure of securities markets in the U.S. have a long way to go before initiatives such as T+1 can become a reality; The Securities Industry Association's net operating profits for third quarter, will now be a loss of $200 million.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS INDATA announces Pzena Investment Management selects the Precision Trading system; SS&C Technologies, Inc. announce Normand A. Boulanger is executive vice president and chief operating officer.
false DerivaTech appoints Paul Tennola, to chief operating officer; Tamesis appoints Leonie Alsop to head of global marketing.
ELECTRONIC TRADING BRIEFS FXall decides to use an extranet supplied by Radianz; DerivaTech names Paul Tennola chief operating officer; Nyfix Millennium names Robert Gasser CEO.
"What FSIs Should Do Now" CSC creates this new "Top 5" list to advise financial institutions of next steps.
Cantor's eSpeed System Rebounds, Replacing Voice Brokerage eSpeed has rebounded and is trading all Treasury instruments electronically, without any voice brokers.
Weathering the Storm No one imagines a terrorist attack of this magnitude could happen in the United States, our financial center, and us personally.
Learning from the Past Oppenheimer conducts test runs of its contingency plans every six months.
Securities and Investment Firms Relocate This list is of some major securities and investment firms and their new (usually temporary) addresses.
The Impact of the Attack on the U.S. Securities Industry The attacks of Sept. 11 touches the securities industry more than any other sector of the economy.
Vendors Assist An Industry in Need Vendors help financial services arena get back on feet.
IT Challenge While disaster recovery plans are unique to each financial services firm, testing those plans regularly and focusing on business continuity are key to pulling through when those plans are put to the test.
In the Aftermath of Sept. 11, Summit Systems Puts Its Disaster Recovery Plan to the Test Its offices directly across from the World Trade Center, Summit Systems relies on a detailed disaster recovery plan and the coordinator who took over.
The Buck Stopped Here: BONY's Disaster Recovery Comes Under Attack At the heart of the financial services industry, The Bank of New York is finding its performance following Sept.11 heavily scrutinized...and criticized.
Recent Run-Through Helps Merrill Deal With Disaster Having just conducted a major disaster-recovery exercise in May, most Merrill Lynch employees knew what to do on Sept. 11.
Disaster Recovery In Action: Barclays Capital With a little help from London, Barclays Captial managed to bounce back after the terrorist attacks forced it from N.Y.
The Market Data Industry Gets Customers Up and Running Reuters and other market data vendors scramble to get customers back up and running following the destruction in lower Manhattan.
Converting a Warehouse to an Office: Morgan Stanley Relocates 3,700 Employees Morgan Stanley was hit hard by the events on September 11th, but the firm reacted quickly to re-locate workers and get business back to normal.
Lehman Brothers Bounces Back Recounting the hours following the Sept. 11 tragedy, Lehman Brother's CIO discusses how the resilient firm was able to bounce back.
Brokerage Web Site Performance Comes Under Scrutiny The Gomez Performance Index measures trade completion times without placing a trade, and one online broker is raising questions.
Disaster Fallout Bear Stearns is Counting on Vendors Like IPC, Dell and Eizo Nanao as it Moves Forward with its Major Trading Floor Relocation.
Bear Stearns Marches on With Trading Floor Relocation Bear Stearns is Counting on Vendors Like IPC, Dell and Eizo Nanao as it Moves Forward with its Major Trading Floor Relocation.
eSpeed Triumphs Over Unimaginable Adversity eSpeedsaid has survived and continues to trade securities, despite destruction of corporate headquarters.
e-Bond Trading Systems Reboot After Attack Several electronic-bond trading systems based in the twin towers or located nearby were knocked out by the Sept. 11 attack.
TheBEAST Escapes Unscathed After escaping from the crumbling floors of Tower One, a small trading software company is operating out of New Jersey, thankful that its people and its software assets in tact.
ECNs Scramble To Relocate Staff While Maintaining Client Connectivity In the aftermath of the attacks, maintaining customer customer connectivity was a major challenge for ECNs like Archipelago and Brut.
PHLX and NYSE Lend the Amex a Helping Hand Lacking a Back-Up Trading Floor in NYC, Amex leans on Phlx and NYSE.
Morgan Stanley Estimates the Financial Toll on all Industries Affected by the Sept. 11 Attack. Replacing hardware is only a small price in relation to what affected industries.