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News & Commentary
Content tagged with Trading Technology posted in January 2007
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Swapstream to Expand Electronic Trading Into Short-Term Interest Rate Swaps
News  |  1/31/2007  | 
Swapstream, the London-based multilateral electronic trading platform for interest rate swaps (IRS), will expand its marketplace in mid-February with the launch of Eonia (Euro Overnight Index Average) swaps trading facility.
Aqua Hires Fishkind to Drive Global Sales for New ATS
News  |  1/31/2007  | 
Aqua - a new alternative trading system (ATS) owned byeSpeed Inc. and Cantor Fitzgerald focused on offering block liquidity to institutions, hedge funds and brokers - announced the hiring of Andrew Fishkind as global head of sales.
Monitor 110 Is Rolling Out an Internet Search Service for Hedge Funds and Institutions
News  |  1/29/2007  | 
Monitor 110 offers Internet search service for institutional investors that ranks online content by relevance.
WSI Corporation Launches WSI MarketFirst Product To Give Energy Traders An Edge on Government Weather Forecast
News  |  1/29/2007  | 
Energy traders who wait for a key government weather forecast each day could get a jump on the news thanks to a new product from WSI Corp.
Thomson Integrates OMS, TradeWeb
News  |  1/29/2007  | 
To enhance the workflow of asset managers and buy-side traders active in fixed-income markets, Thomson Financial launched TradeCentral, an order management system (OMS) that comes pre-integrated with Thomson TradeWeb, the electronic fixed-income and derivatives marketplace.
Day 5 at Davos: Recapping the World Economic Forum 2007
News  |  1/29/2007  | 
The top priority for many senior business and financial leaders at the World Economic Forum was, surprisingly, climate change, followed by global banking security standards. My first visit to the World Economic Forum is now over and, after an exhausting week, I used the downtime on my flight home to contemplate some of the bigger issues that were raised during the past week.
Day 4 at Davos -- Banking the Unbanked
News  |  1/26/2007  | 
The unbanked, or underbanked, represents a huge -- but risky -- opportunity for financial institutions. And one needs not travel to Asia or South America to find a large underbanked market: There are 50 million unbanked people right here in the world's most developed economy.
Instinet and FlexTrade Launch Portfolio Trading Optimizers
News  |  1/25/2007  | 
Instinet, Wizard PRO, Michael Plunkett, Thorsten Schmidt, Vijay Kedia, FlexTrade Systems, FlexTrade PTS, Northfield Information Services
Day 3: A good climate for global regulation?
News  |  1/25/2007  | 
Delegates are calling for global regulation that directly addresses climate change at the World Economic Forum in Davos. But can business, government and scientists agree on a solution that could actually have some impact on a global scale?
Asset Managers Evaluate the Role of the Risk Manager
News  |  1/24/2007  | 
Asset managers evaluate the role of risk management and which technologies — including internally or externally modeled risk metrics and risk analytics — are required to support the risk function.
Day 2 at Davos: Setting the Security Standard
News  |  1/24/2007  | 
Not surpisingly, information and data security is one of the hotter topics in Davos among the attendees at the World Economic Forum. Logically, if there are regulators for the Internet, telecommunications and accounting, why don't we have a standards in place for information and data security?
BOX Files to Cut Fees in Penny Pilot; AFA Adds Options Trading
News  |  1/24/2007  | 
Ivy Schmerken, Wall Street & Technology The Boston Options Exchange said it filed with the Securities and Exchange Commission (SEC) to reduce fees in preparation for the Penny Pilot Program in which options will trade in one-penny increments. The proposed change will reduce the trading from the standard $0.20 to $0.15 per contract.
Surging Electronic Trading Volumes and Reg NMS Require Financial Firms to Enhance Underlying Technology Infrastructures
News  |  1/24/2007  | 
As trading activity becomes more electronic and federal regulations create more information requirements, bigger and faster IT infrastructures will be needed to handle the increases in trade volumes and the associated market data and messaging.
Web 2.0 Enriches Applications and Services, Making Them More Compelling to Users
News  |  1/24/2007  | 
One of the hottest buzzwords of late, Web 2.0 refers to Rich Internet Applications (RIAs) that use the Internet as a platform to create interactive user interfaces that resemble PC-based applications. Typically, RIAs emphasize online collaboration among users.
Wealth Managers Turn to Unified Managed Accounts to Better Serve Wealthy Clients
News  |  1/24/2007  | 
Unified managed accounts and unified managed households are part of a growing trend to electronically aggregate a client's holdings in as close to real time as possible. The goal of such cross-product, cross-institution and cross-individual accounts is superior portfolio management, including tax optimization and risk mitigation.
GL Trade Connects to Instinet's Chi-X for Pan-European Equity Trading
News  |  1/24/2007  | 
Ivy Schmerken, Wall Street & Technology GL Trade, the Paris-based supplier of front-to back-office trading systems, is offering connectivity to Instinet's Chi-X, one of the first Pan-European alternative trading systems (ATSs) to arise in response to the Markets in Financial Instruments Directive (MiFID), which goes into effect in Nove
A Market Turned Upside Down
News  |  1/23/2007  | 
The European Union's Markets in Financial Instruments Directive (MiFID) is scheduled to go into effect in November 2007. Even U.S.-based firms will need to have a thorough strategic plan for compliance in order to stay competitive in the global markets.
NYSE Requests a Four-Week Extension of the Reg NMS Deadline
News  |  1/23/2007  | 
Although it has been beaten to death by industry analysts and press, the importance of the changes to the U.S. securities industry spurred by Reg NMS cannot be overstated. The industry anxiously awaits full implementation of the regulation in 2007.
The Right Stuff: A Good IT Manager Is Hard to Find
News  |  1/23/2007  | 
CIOs are struggling to keep their departments staffed with talented technologists who understand the business. Finding senior-level workers with the right stuff will continue to prove difficult.
Firms Ready to Dive Into China's Financial Markets
News  |  1/23/2007  | 
The opening of the huge Chinese financial services sector to foreign-based institutions presents a gamut of opportunities -- whether in retail and corporate banking, investment banking or asset management -- for North American and European firms.
First Impression: Davos Goes Green for World Economic Forum
News  |  1/23/2007  | 
After arriving in an abnormally warm Davos for the World Economic Forum, talk quickly turned to finding ways for financial services companies to become "greener," especially when it comes to using advanced technology.
Regaining N.Y.’s Financial Glory?
News  |  1/23/2007  | 
The SEC's vote to reduce the impact of Sarbanes-Oxley by reducing audit and sign-off requirements on firms' financial controls is a positive step, but will it bring back growth to the U.S.'s financial markets?
PHLX Promotes Derivatives Specialist
News  |  1/23/2007  | 
The Philadelphia Stock Exchange (PHLX) has promoted Matthew Rotella to vice president of options derivative trading development systems.
Moody’s Hires Rotella as CIO
News  |  1/23/2007  | 
Moody's Corp. -- the New York-based parent company of the credit rating, research and analysis firm Moody's Investors Service -- hired Perry Rotella as SVP and CIO. He will report to CEO Raymond McDaniel.
Keeping Tabs
News  |  1/23/2007  | 
Chauvin Promoted to CRO at TD
News  |  1/23/2007  | 
Mark Chauvin, a veteran of TD Bank Financial Group, has been appointed as EVP of risk management and chief risk officer for the firm.
VASCO Bolsters Tokens
News  |  1/23/2007  | 
Chicago-based strong authentication vendor VASCO Data Security International has bolstered its hardware authentication offerings with the release of two new user authentication products for online commerce.
Reuters Enhances IM
News  |  1/23/2007  | 
Instant messaging technologies are increasingly gaining a foothold in various functions of the financial services industry.
https://www.informationweek.com/
News  |  1/23/2007  | 
In order to address December's changes to the Federal Rules of Civil Procedure (FRCP), electronic communications compliance vendor Orchestria released an e-discovery solution, Legal Hold.
On the Offensive
News  |  1/23/2007  | 
Capital markets firms enter 2007 amidst dramatic changes in their product offerings, customer relationships, organizational structures and markets.
Cross-Asset Algorithmic Trading Goes Mainstream, While Software As a Service Gains Traction
News  |  1/23/2007  | 
More buy-side firms will adopt cross-asset-class algorithmic trading in 2007, according to David Dart, a former managing director and CIO for the Americas with a large German bank, and the technology will enter the mainstream.
Mellon Focused on Bank of New York Merger and new Private Wealth Management Platform
News  |  1/23/2007  | 
New technology from Pittsburgh-based Mellon Private Wealth Management will transform the way wealth managers interact with ultra-high-net-worth clients' other advisers, according to Tim Tully, the firm's senior vice president and chief operating officer.
Web 2.0 and Data Privacy Will Define Financial Services in 2007, Says Steve Rapp, SVP & CIO, Nicholas Applegate.
News  |  1/23/2007  | 
The move to further protect client data and the maturation of Web 2.0-related businesses are two topics that will define financial services in 2007, according to Steve Rapp, senior vice president and CTO at San Diego-based Nicholas Applegate Capital Management.
Putnam's 64-bit Architecture and Outsourcing Strategy Allows IT to Focus on Core Competencies
News  |  1/23/2007  | 
Boston-based Putnam Investments is preparing to outsource noncore processes so business leaders and technology professionals can focus on projects that provide specific value to the business, according to Putnam CTO Philippe Bibi. Such agility will be necessary if mutual funds are to compete with hedge funds, he suggests.
SMS Messaging and Asynchronous Data/Voice Capabilities Will Shape 2007 Wireless Market
News  |  1/23/2007  | 
SMS and text messaging will take center stage for financial organizations that support wireless access for clients, reports Joseph Ferra, chief wireless officer at Boston-based Fidelity Investments. Those trends, combined with the introduction of asynchronous data and voice capabilities, will drive increased wireless usage for financial transactions.
In Search of Liquidity: The Time Is Now
News  |  1/23/2007  | 
After more than a year of investing in technology to comply with Reg NMS, firms need to demonstrate that their systems are up to the challenge of dealing with a shattered market and accessing 30 or more trading venues in the scramble for liquidity.
Data Privacy: Financial Institutions Try to Keep Data Breaches Down in 2007
News  |  1/23/2007  | 
As the value of customer data rises for both financial institutions and criminals, so too does its vulnerability. Hackers, dishonest employees, careless customers and technical glitches continue to expose sensitive information, making customers uneasy.
10 Critical Business Technology Issues for The Street
News  |  1/23/2007  | 
In 2007, firms will face the daunting full rollout of Reg NMS in the U.S. and the likely beginning of MiFID implementation in Europe while they continue to struggle with data privacy, OTC derivatives, a shortage of talent and the potential of Web 2.0, among other challenges.
Who Says Security Is Important?
News  |  1/23/2007  | 
Despite its marketability, customer information security surprisingly does not provide a significant competitive advantage among online brokerages, according to Pleasanton, Calif.-based Javelin Strategy & Research.
Ask The Expert: Trends
News  |  1/23/2007  | 
Question: What business trend will have the biggest impact on asset managers in 2007, and how will it impact the IT department?
Pondering Liquidity Management
News  |  1/23/2007  | 
The next five years will see a considerable increase in order internalization as market pressures force firms to adopt the philosophy of liquidity management in order to stay competitive, a new research note from Westborough, Mass.-based TABB Group speculates.
A Fresh Look at Outsourcing Contracts
News  |  1/23/2007  | 
With the pioneers of IT and business process outsourcing operating under contracts that were enacted five to 10 years ago, the time has come for outsourcing agreements to be refreshed, says Houston-based Equaterra.
A Good Year for WMPs
News  |  1/23/2007  | 
North American sales of wealth management platforms (WMPs) are expected to remain strong, reports Celent (Boston) in its recent ranking of WMP vendors.
Not My Problem?
News  |  1/23/2007  | 
The unthinkable is becoming thinkable. In an increasingly unsafe world where companies of all shapes and sizes are under constant attack from hackers and fraudsters, a new research note from TowerGroup (Needham, Mass.) suggests that the best answer may, in fact, be the outsourcing of security.
Stock Spam Surges
News  |  1/23/2007  | 
Stock spamming experienced a major surge in 2006, according to a yearly recap and outlook report from San Bruno, Calif.-based e-mail and Web security vendor Ironport.
It Costs More Than You Think
News  |  1/23/2007  | 
Two of the slowest areas of the retail brokerage industry to adopt process automation have been the direct business of mutual funds and annuities, according to new research from Boston-based Aite Group.
Regaining N.Y.’s Financial Glory?
Commentary  |  1/23/2007  | 
While the easing of Sarbanes-Oxley is something to celebrate, it won't bring the traditionally New York-based investment banking business back home tomorrow.
Liquidnet Decides to Acquire Miletus Trading
News  |  1/22/2007  | 
By Ivy Schmerken, Wall Street & Technology Today Liquidnet, the leading electronic marketplace for block trading, revealed plans to acquire Miletus Trading, an agency-only broker that supplies quantitative execution strategies and analytics to institutional investors. Liquidnet signed a definitive agreement to purchase Miletus Trading, according to the release, though financial detail
There Oughta Be a Rule
Commentary  |  1/18/2007  | 
Media outlets, including Wall Street & Technology, are fond of predicting what the future will bring.
Credit Suisse AES Integrates With TradingScreen for Listed Futures
News  |  1/18/2007  | 
By Ivy Schmerken With buy-side firms ready to extend electronic trading in equities over to multiple asset classes, Credit Suisse AES (Advanced Execution Strategies) is expanding its algorithmic trading products into listed futures. Trading Screen, the operator of a multi-product trading platform, announced that Credit Suisse algorithms for the listed futures markets have been integr
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