The Goldman Sachs Profanity Police
Goldman Sachs, embarrassed by the profanity that was used in the now infamous email that was brought to light by Sen. Carl Levin during a Congressional hearing, has moved to prohibit employees from swearing in emails. Goldman is deploying technology that will screen for "bad" words in emails and text messages.
Pyxis Mobile Appoints IT Vet As New CEO
Steven Levy, who replaces Bob Mazzarella, co-founded and served as CEO for 15 years at Macgregor, an order management system (OMS) provider, where he led the sale of the software firm to ITG for approximately $250 million.
Execution Quality:Electronic Order Books Dominate
New reports from Celent on Execution Quality in NYSE and Nasdaq stocks found that electronic order books (EOBs) such as BATS, Nasdaq, NYSE Arca and Direct Edge's EDGA and EDGX, are leading performers when speed and price are taken into account, but the NYSE specialists/DMMs are the fastest, except for small orders.
The Data Center of the Future
Given Wall Street's insatiable need for computing power and the ever-increasing cost of energy, firms inevitably will deploy energy-efficient hardware and technology, such as virtualization. But to build data centers that will remain cost-effective for years to come, organizations including the NYSE and Citi also are focusing on how they power and cool their facilities.
Data Center Spending: $1.8 Billion (and Counting)
To handle the increasing compute demands of financial firms, a good portion of IT budgets in 2010 and beyond will be spent on upgrading older technologies to make today's data centers more energy-efficient and more powerful.
Wall Street Movies: Looking Behind the Crisis
With summer blockbusters like the Sorcerer's Apprentice, The Last Airbender and Twilight Saga:Eclipse playing in theaters, it's hard to imagine that plots about Wall Street's role in the financial crisis will be a hot ticket.
Bank of America Merrill Lynch Rolls Out ETF Algorithm
Bank of America Merrill Lynch has rolled put ETF-aX, an exchange-traded fund algorithm which purports to identify the most efficient combination of ETF, stock, and futures and then automatically trade them to source liquidity and find the best prices.
Europe's Bank Stress Tests Not So Tough
Europe's banks largely passed tests designed to show how they'd fare if the region had a double-dip recession. But there's still questions being asked about the toughness of the tests.
Direct Edge Becomes Newest U.S. Equity Exchange
Electronic market operator Direct Edge Holdings LLC became the newest equity exchange in the U.S. this week, converting its alternative trading platforms EDGX and EDGA to formal exchanges.
Windward Advisory Group Hires Veteran Tech Expert Bob Shepro
Shepro was founder and CEO of Shepro Braun Systems, where he designed and brought to market the first integrated real-time trading, portfolio management, financial accounting, partnership and trust system for hedge funds and investment managers.