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News & Commentary
Content tagged with Trading Technology posted in November 2006
Saxo Tabs Straessle As New CIO
News  |  11/30/2006  | 
Keeping Tabs
News  |  11/30/2006  | 
FSTC Gets New Chief of Staff
News  |  11/30/2006  | 
Everall Jumps to HSBC Securities
News  |  11/30/2006  | 
Rep. Lifecycle Management
News  |  11/30/2006  | 
Enhanced Password Security
News  |  11/30/2006  | 
Algorithm Building Blocks
News  |  11/30/2006  | 
Exclusive: New Omgeo CEO Marianne Brown Cites Europe and Hedge Funds as Key Growth Drivers
News  |  11/30/2006  | 
Exclusive Executive Q&A: Marianne Brown Replaces Adam Bryan as Omgeo's President and CEO In her first interview as Omgeo's new CEO, Marianne Brown discusses with WS&T key growth opportunities for the provider of post-trade, pre-settlement solutions. Brown also highlights Omgeo Connect and Omgeo CTM as crucial product initiatives going forward.
Creditex Completes Merger With CreditTrade
News  |  11/28/2006  | 
Ivy Schmerken, Wall Street & Technology Creditex completed its merger with CreditTrade, underscoring plans to create a global leader in voice, hybrid and electronic execution in the credit derivatives market. The transaction, announced on July 25, has received both NASD and FSA approvals, according to Tuesday's release.
Tradeware Expands DMA to Mexican Stock Exchange
News  |  11/28/2006  | 
Ivy Schmerken, Wall Street & Technology Tradeware Global Corp. has established an agreement with Interacciones Casa de Bolsa, among the largest Mexican brokers, to provide electronic direct market access (DMA) to the Mexican Stock Exchange through FIX connectivity.
The BOX Files to Participate in Penny Pricing Pilot
News  |  11/28/2006  | 
Ivy Schmerken, Wall Street & Technology The Boston Options Exchange (BOX) has filed with the Securities and Exchange Commission (SEC) to participate in the penny pilot program for option trading, which will begin on Jan. 26, 2007. In addition, BOX has also filed a quote mitigation plan to help manage market data traffic, according to the announcement.
ISE Stock Exchange to Launch Displayed Stock Market
News  |  11/28/2006  | 
Ivy Schmerken, Wall Street & Technology The ISE Stock Exchange will unveil its fully displayed stock market on Friday, Dec. 8, according to an announcement by the publicly traded International Securities Exchange (ISE), which also operates the leading all-electronic U.S. options exchange.
Citi's Richardson to Head BeX
News  |  11/28/2006  | 
The Boston Equities Exchange (BeX) hired former Citigroup managing director Thomas Richardson as its new president.
The Chicago Mercantile Exchange Intends to Purchase the Chicago Board of Trade, Creating One of the Largest Derivatives Markets
News  |  11/28/2006  | 
The windy city makes a splash in the derivatives market with the merger of the Chicago Mercantile Exchange and the Chicago Board of Trade.
The Audacity
Commentary  |  11/27/2006  | 
Business is good. Corporate profits are setting records, and Wall Street bonuses are predicted to set records in 2006 for the second year in a row.
Penson to Purchase Schonfeld's Clearing Business
News  |  11/22/2006  | 
Ivy Schmerken, Wall Street & Technology Penson Worldwide agreed to acquire the clearing business of privately held Schonfeld Securities, LLC, a New York-based securities firm, which has been a pioneer in active trading.
Penson to Purchase Clearing Biz of Schonfeld Securities
News  |  11/22/2006  | 
Ivy Schmerken, Wall Street & Technology Penson Worldwide agreed to acquire the clearing business of privately held Schonfeld Securities, LLC, a New York-based securities firm, which has been a pioneer in active trading.
NeoNet Eyes Asian Expansion and New Hires
News  |  11/21/2006  | 
Ivy Schmerken, Wall Street & Technology Direct market access broker NeoNet Securities plans to offer connectivity to Asian markets next year and will expand its staff at its Jersey City, New Jersey headquarters. The expansion of its exchange connectivity will start during the first half of next year, with the Tokyo Stock Exchange in Japan, according to Greg Treacy, dir
Market Data Management Mandate
News  |  11/21/2006  | 
Financial services firms are building robust infrastructures to handle the anticipated data deluge while continuing to scrutinize market-data-related spending.
News  |  11/21/2006  | 
Financial services firms increasingly are adopting Web-based tools to better track new business prospects and close deals faster.
Federated Search Providers Are Looking to Reach the Financial Services Industry
News  |  11/21/2006  | 
Federated search technology providers are looking to reach the financial services industry, but the big fish aren't quite ready to bite.
Inefficient Efforts: Firms Look to Break Down Their Isolated Compliance Processes
News  |  11/21/2006  | 
The pressure to meet regulatory deadlines has resulted in siloed compliance activities across organizations.
Yahoo Finance Upgrades Web Site Technology
News  |  11/21/2006  | 
Yahoo Finance wrangles stock data directly from exchanges and updates its service with new front end.
U.S. Market Position Under Attack
News  |  11/21/2006  | 
Three interesting news pieces came across my desk today: the acquisition of Instinet by Nomura; the development of a Pan-European MiFID-ready exchange; and a story about European exchanges and depositories promising to open up their vertically aligned clearing businesses, prompted by the European Financial Services commissioner, Charlie McCreevy, to promote cross-border clearing and settlement competition, innovation and lowered cost.
Seeing Is Believing
News  |  11/21/2006  | 
New From Cybercrooks: Fake Chrome, Pump-And-Dump
News  |  11/21/2006  | 
E-Trade and TD Ameritrade were victims of an online brokerage pump-and-dump scheme.
Complexities Make Boards Worry
News  |  11/21/2006  | 
The emerging popularity of complex financial instruments is of major concern to financial institutions, as they'll be forced to respond to this increased demand via new products, revamped infrastructure and, perhaps most importantly, regulatory compliance, according to a new PricewaterhouseCoopers (New York) survey.
Ready for FFIEC
News  |  11/21/2006  | 
A new report from Boston-based Aite Group shows that the financial services industry is geared up for the Federal Financial Institutions Examination Council's (FFIEC) end-of-year deadline for outlining a plan for stronger online authentication.
In the News: Customer Account Security
News  |  11/21/2006  | 
How is E-Trade Financial ensuring the security of customer data and helping customers protect their identities and accounts?
The World After MiFID
News  |  11/21/2006  | 
London-based consultancy LogicaCMG explores the potential impacts of the Markets in Financial Instruments Directive (MiFID) and forecasts three scenarios that may play out in the E.U.'s capital markets over the next five years
Electronic Trading Expectations Soften
News  |  11/21/2006  | 
The buy-side trading desk continues to transform itself into a more electronic, automated and self-directed operation, but the spread of electronic trading is slowing, according to TABB Group.
OTC Obstacles
News  |  11/21/2006  | 
In a poll of 20 asset managers and institutional investors conducted by JPMorgan Worldwide Securities Services at its "Operational Success in OTC Derivatives" forums in New York and London, the buy siders shared their biggest challenges in OTC derivatives operations.
FSIs Care More About Compliance
News  |  11/21/2006  | 
New research out of the Business Performance Management Forum (Palo Alto, Calif.) verifies the financial services industry's high prioritization of compliance as a business function.
SEC Exemption Expands NYSE Bonds' Universe
News  |  11/17/2006  | 
Ivy Schmerken, Wall Street & Technology Days after announcing partnerships with Kestrel Technologies and Townsend Analytics (TAL) to provide access into NYSE Bonds, its new electronic fixed-income trading marketplace, NYSE Group received regulatory approval to vastly expands the number of debt securities it can trade through the revamped el
Kestral and TAL to Provide Access to NYSE Bonds
News  |  11/16/2006  | 
Ivy Schmerken, Wall Street & Technology NYSE Group selected Kestrel Technologies and Townsend Analytics to provide market participants with access to NYSE Bonds, its redesigned electronic bond-trading platform that will trade corporate bonds issued by companies listed on the exchange. The exchange is currently developing the all-electronic b
Korean Exchange Taps Progress Apama for Algo Trading
News  |  11/16/2006  | 
Ivy Schmerken, Wall Street & Technology Algorithmic trading is soon coming to Korea. The Korean financial software IT vendor Koscom has picked the Progress Apama Algorithmic Trading Platform to facilitate algorithmic trading on the Korea Exchange (KRX). In addition, Progress and Koscom have entered into a strategy partnership whereby Koscom will develop a localized version of the Apama p
RBC Capital Markets Picks Wombat Messaging Software
News  |  11/15/2006  | 
Ivy Schmerken, Wall Street & Technology RBC Capital Markets' proprietary trading desk has signed up for Wombat Financial Software's market data platform to achieve low-latency market data distribution and integration. RBC will deploy Wombat's MAMA platform above TIBCO/Rendezvous (RV) messaging software, according to the release.
Fidessa Expands Buy-Side EMS into Asia
News  |  11/9/2006  | 
Ivy Schmerken, Wall Street & Technology Eyeing the global market for institutional trading, Royalblue'sFidessa launched an execution management system (EMS) workstation for buy-side trading desks in Asia. The EMS is a global, broker-neutral, multi-asset execution platform for buy-side trading desks in Asia, according to Wednesday's release.
NYSE Group Cuts 520 Positions
News  |  11/9/2006  | 
Ivy Schmerken, Wall Street & Technology NYSE Group will reduce its workforce by 520 positions as part of an organizational downsizing aimed at cutting costs and improving efficiencies, it announced on Wednesday. The staff cuts impact approximately 400 employees and 120 full-time consultants from its New York Stock Exchange (NYSE), NYSE Arca and Securiti
eSpeed Sees Court Decision as Win in TT Patent Case
News  |  11/8/2006  | 
Ivy Schmerken, Wall Street & Technology On Monday, eSpeed said that a recent court decision over the scope of Trading Technologies International's (TT) patent infringement claims favors eSpeed and its Ecco subsidiary, and enables them to offer a variety of user interfaces to conduct futures transactions.
Fidelity Launches ATS
News  |  11/6/2006  | 
Ivy Schmerken, Wall Street & Technology Fidelity Capital Market Services, a unit of Fidelity Brokerage Company, has launched CrossStream, an alternative trading system (ATS) that anonymously matches brokerage clients' buy- and sell-side orders against the diverse order flow of the agency brokerage house. The new ATS will not publish bids and offers before client's orders hit the Street, according to yesterday's announcement.
Slacking on Security
News  |  11/6/2006  | 
Information security solution vendor Cyber-Ark (Dedham, Mass.) reports that passwords with administrator-level permissions are too common at most firms, creating security loopholes.
Amex Selects Lava for Outbound Routing
News  |  11/2/2006  | 
Ivy Schmerken, Wall Street & Technology The American Stock Exchange (Amex) has selected Lava Trading to provide private linkage services for sending outbound orders to other market centers publishing protected quotes in compliance with the Securities and Exchange Commission's Regulation NMS. The linkage service will be rolled out with the Amex's new Auction and Electronic Market Integration (AE
Nomura to Acquire Instinet
News  |  11/2/2006  | 
Ivy Schmerken, Wall Street & Technology Nomura Holdings, the Japanese financial services conglomerate, has agreed to acquire Instinet Inc., the global agency broker, in an all cash transaction, according to today's announcement. The purchase price was not disclosed.


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