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News & Commentary
Content tagged with Trading Technology posted in March 2007
February Market Decline Serves As Wake Up Call
News  |  3/28/2007  | 
During the brutal market decline of Feb. 27 and the volatility that continued for the next four trading days, hedge funds relied on technology from their brokers, exchanges and service providers to execute orders. To what extent was their trading interrupted and how well did their service providers do? "I think it was a wake up call for everybody, not only for the hedge funds, but for service providers," says Steven Harrison, president and COO at
What Web 2.0 Means to Securities Firms
News  |  3/22/2007  | 
Merrill Lynch, Dresdner Kleinwort, Fidelity, and Pioneer Investments are all embracing Web 2.0 - in other words, advanced Web technologies -- according to a recent Tower Group report, "Web 2.0 May Be the Future of the Internet, but What Does It Mean to Securities Firms?"
Adoption of Electronic Systems and Algorithmic Trading Tools Is on the Rise With Canadian Traders
News  |  3/22/2007  | 
As more Canadian capital markets firms turn to algorithmic trading tools, U.S. players dominate the market.
Bill Cline Leaves Accenture to Form Capital Markets Consultancy, Acai Solutions
News  |  3/21/2007  | 
William (Bill) Cline has left Accenture, the global consulting firm, to found Acai Solutions, a deep-domain capital markets consultancy located in New York.
Morgan Stanley Investment Management Hired Robert Shapiro for Trading Execution and Analysis
News  |  3/21/2007  | 
Morgan Stanley Investment Management tapped Robert Shapiro, formerly of Abel Noser, to work on trading and execution analysis and MSIM's global trading infrastructure.
Cantor Fitzgerald Hires Execs to Head Structured Products Group
News  |  3/21/2007  | 
Cantor Fitzgerald, a leader in the fixed-income market, has launched a structured products group with the hire of two senior executives. The group will operate as part of Cantor's debt capital markets team.
LSE CIO David Lester Opens Up About Launch of Next-Generation Trading Platform, TradElect and the Global Market
News  |  3/21/2007  | 
As the chatter around Nasdaq's failed takeover of the London Stock Exchange dies down, the LSE is readying to prove that it's worth its weight in trading. The exchange is preparing to launch its next-generation trading platform, TradElect, late in the second quarter.
Investment Technology Group Augments POSIT Match With POSIT Now
News  |  3/21/2007  | 
To take advantage of the new European trading landscape resulting from the implementation of MiFID, ITG developed POSIT Now, a continuous intraday crossing system for equities that covers 9,000 stocks in 15 countries.
Symons Gets Good Prices During Market Downturn
News  |  3/21/2007  | 
Having anticipated the recent market downturn, Symons Capital Management dips into cash reserves and gets good prices.
The NYSE Has Asked for a 30-Day Exemption From the Trade-Through Rule
News  |  3/21/2007  | 
The NYSE still uses the Intermarket Trading System (ITS) to access other market centers and does not have access to some ATSs as well as the International Securities Exchange.
Lehman Brothers and Fidelity Brokerage Link Their Dark Pools
News  |  3/21/2007  | 
This direct link between their respective ATSs will enable traders to place orders on either firm's matching engine and cross with both liquidity pools while still limiting market impact.
With HyperFeed Litigation Pending, Exegy Launches Low-Latency Ticker Plant
News  |  3/20/2007  | 
On the heels of breaking off an agreement last November to merge with Chicago-based market data vendor HyperFeed Technologies, Exegy Inc., a St. Louis-based technology provider is launching a new ticker-plant service initially to 21 Wall Street customers. But when Wall Street firms consider Exegy's new ticker plant, should they care that Exegy jilted HyperFeed at the altar? And should they be co
Barney Frank: Banks' Best Friend on Capitol Hill?
News  |  3/19/2007  | 
If Barney Frank's recently reported statements are accurate, banks and financial institutions may have a surprisingly friendly advocate on Capitol Hill. Frank, who also happens to be the influential chairman of the House Financial Services Committee, contends that banks sho
Scivantage Releases Automated Tax Reporting System
News  |  3/19/2007  | 
The vendor says it hopes to attract financial advisers and individual investors who are searching for ways to reduce the complexity of the investment tax process.
Echoworx Releases Platform for Web-Based Communication Encryption
News  |  3/19/2007  | 
EMX is designed for organizations that want to enable communication with their customers and partners using a secure, private label Web-based environment, the vendor says.
News  |  3/19/2007  | 
Lobby groups have convinced the SEC to conduct a rare review of market-data fees, reenergizing a spirited debate.
U.S. Firms Have Had Few Options When it Came to Investing in Companies Overseas, Until Now
News  |  3/19/2007  | 
Global is where it's at. The balance of trade, interest rates, economic growth and global expansion all are sending payments from high-wage Western countries to lower-wage emerging markets and Eastern countries.
BIDS Brings On Richard Levin as CCO
News  |  3/19/2007  | 
Video
News  |  3/19/2007  | 
TSX Group Hires Brenda Hoffman as CIO
News  |  3/19/2007  | 
Evaluating CRM Solutions When Companies Merge
News  |  3/19/2007  | 
Today, most financial organizations already have a CRM solution in place. When two organizations merge -- each with its own preferred relationship intelligence software -- how do they determine which system to use moving forward? A few considerations to keep in mind when evaluating CRM include:
How CRM Helps Merge Firms’ Crucial Relationship and Intelligence Assets
News  |  3/19/2007  | 
The financial industry has undergone much change over the past decade. Among the most-notable trends has been the movement toward consolidation -- namely mergers and acquisitions.
Wachovia Delivers High-Performance Computing Through a Services-Oriented ’Utility’
News  |  3/19/2007  | 
In a pioneering approach, Wachovia is becoming more and more discriminating about how and to whom it provides high-performance computing.
Capital Markets Firms Can Run Spreadsheets on a Server With Microsoft’s New Excel Services
News  |  3/19/2007  | 
Microsoft's Excel 2007 offers capital market firms the ability to run Excel Services on a server, providing faster performance and stronger governance.
The High-Speed Arms Race on Wall Street Is Leading Firms to Tap High-Performance Computing
News  |  3/19/2007  | 
Wall Street firms are turning to high-performance computing technologies to meet the increasing computing demands of quantitative analysts, traders and risk managers without driving up power consumption.
A Few Common Clearing Service Providers
News  |  3/19/2007  | 
The Depository Trust Company
Tue, 28 Aug 2007 09:43:35 -0500
News  |  3/19/2007  | 
In outsourcing its back-office functions to ADP, WestLB Securities didn't want to lose its identity.
Many Firms Lack the Processing Infrastructure to Support Growth in Alternative Investments
News  |  3/19/2007  | 
Many firms lack the processing infrastructure needed to support the huge growth in alternative investments.
The Proxy Plan: The Future of Shareholder Material Delivery Is Paperless
News  |  3/19/2007  | 
The future of shareholder material delivery is electronic, and the SEC has laid out the plan to get there.
Credit Suisse Learns From Past Outsourcing Deals to Fine-Tune Agreement With BT and Swisscom
News  |  3/19/2007  | 
Question: How have lessons learned from previous outsourcing deals helped Credit Suisse fine-tune the planning and execution of the agreement with BT and Swisscom?
Aite Recommends Improving Advisor Productivity in Wealth Management Market
News  |  3/19/2007  | 
Aite Group (Boston) recently released its evaluation of wealth management platforms and noted the importance of improving adviser productivity in an industry experiencing consolidation.
Excerpts From Last Month’s Most-Viewed WS&T Blog Postings
News  |  3/19/2007  | 
Below are excerpts from last month's most-viewed WS&T blog postings. To read these and other blogs from our editors, or to add your own comments, please visit wallstreetandtech.com/blog.
Most Capital Markets Firms Are Not Ready to Deploy Microsoft’s Vista Operating System
News  |  3/19/2007  | 
Although Citigroup announced its intention to deploy Vista on 360,000 desktops this summer, most capital markets firms, while evaluating the new OS, are not quite ready for a major rollout
Big Surge for Bank Offshore Outsourcing, Deloitte Study Predicts
News  |  3/19/2007  | 
Offshore technology spending by banks will increase from the present 6 percent of the banking industry's $44 billion total annual IT budget to 30 percent by 2010, according to Deloitte.
Finding Liquidity in Derivatives Instruments Is Traders’ Biggest Challenge
News  |  3/19/2007  | 
Recent numbers gathered by Westborough, Mass.-based TABB Group underscore equity derivatives traders' intense focus on finding liquidity.
TowerGroup Predicts Growing Demand for Defined Contribution Plans
News  |  3/19/2007  | 
TowerGroup (Needham, Mass.) is urging CTOs to prepare for an influx in demand for defined contribution plans. According to the firm's recently released research on the effects of the Pension Protection Act of 2006 changes initiated by the Act -- such as automatic enrollment and deferral provisions -- will result in a doubling of participant contributions in U.S.-defined contribution plans, reaching $204 billion in 2011.
Pleasures and Pains of Cutting-Edge Technology
Commentary  |  3/19/2007  | 
Wall Street demands the latest and fastest technology for trading, risk management and financial modeling. But when ultra-fast processing runs into problems, scary things happen.
Virtual Stock Exchange Opens in Second Life
News  |  3/16/2007  | 
After we wrote about Saxo Bank's opening an office in the virtual world Second Life, 24-year-old Australian entrepreneur Luke Connell contacted us to tell us about the securities exchange he opened recently in Second Life called World Stock Exchange. This simulated stock exchange opened on March 5 and trading volume has exceeded $23 million i
Rosenblatt Securities Migrates to Lava OMS and Smart Router
News  |  3/14/2007  | 
Brokers are upgrading their technology in response to Regulation NMS, which requires more-complex order routing technology, faster execution speeds and bulging storage capacity, according a The TABB Group research note, "Reg NMS: Launching The Next Arms Race," released today. As an example of the arms race, on Monday Rosenblat
Nasdaq Lures Companies to Switch Listings with Portable Symbols
News  |  3/14/2007  | 
As the battle between U.S. stock exchanges heats up, this week the Nasdaq Stock Market said that a company could retain its stock symbol if it moved over to Nasdaq from another exchange trading venue. On Monday, Nasdaq announced that Delta Financial Corp.Corp. (DFC) will keep its three character ticker symbol "DFC" when it moves to Nasdaq from the
Saxo Bank Sets Up Shop in Second Life
News  |  3/14/2007  | 
The Copenhagen-based online investment bank Saxo announced yesterday that it has set up an office in Second Life, the web-based virtual world developed by Linden Lab, San Francisco, in which users (called residents) live out their fantasy lives online and interact with each other through avatars -- animated graph
Schwab Site for Active Traders Gets A Makeover
News  |  3/9/2007  | 
Yesterday, Schwab unveiled the results of the facelift it's given to its streetsmart.com site for active-trader customers -- those who trade at least nine times per quarter. The upgrades were based on client research and reviews of competing sites, which led the brokerage to one conclusion - it needed simplicity and ease of use. "Over the years, we've seen in the active trading category the advent of many new tools, with professional trading tools brought down to the consumer level," says Rich
Financial Insights Hires Julio Gomez to Head Capital Markets and Risk Management Practice
News  |  3/9/2007  | 
Julio Gomez has joined the independent research and advisory firm Financial Insights as VP of Capital Markets, Risk Management and Financial Markets Investor Research, according to today's announcement. Gomez will takeover the role of global head of capital markets and risk management research with responsibility for Europe and Asia Pacific as well as North America.
Pipeline ATS Shuts Off Access to Broker Algorithms
News  |  3/6/2007  | 
Pipeline Trading Systems LLC is cutting off access to third-party broker algorithms that are sending orders into the electronic block trading system it operates, according to an e-mail sent to clients this morning. The change in policy is effective next weekend, says the e-mail, which was sent to both buy- and sell-side clients. In an interview on Monday with Wall Street & Technology, Fred Federspiel, president of Pipeline, says t
Symons Reaps Benefits of Market Downturn
News  |  3/2/2007  | 
Many firms were affected by the market downturn on Tuesday, Feb. 27 - some negatively and some positively. Symons Capital Management was able to turn the chaos into an opportunity by dipping into its cash reserves and getting good prices as the market was going down.


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