The Fat Lady Sings: GSTPA To Dissolve
The GSTPA, an industry utility focused on the automation of post-trade/pre-settlement matching, announces that it will cease operations and begin to dissolve its business.
NeoNet brokers a deal with Macgregor; OneChicago plans to list 23 new contracts on Nov. 22; IntercontinentalExchange elects a new board of directors.
FT Interactive Data adds a U.S. fixed-income data service to the evaluated bond-pricing module of its FTS desktop portfolio administration tool; Infonet Services Corp. is tapped to provide a redundant wide-area network for Sumitomo Trust & Banking Co; AlphaTrade implements new charting algorithms from Bollinger Capital Management into its real-time financial market data application.
PWC reports that financial firms struggle with inadequate data gathering and measurement tools; Townsend Analytics introduces new features to its RealTick 7.6 platform.
WealthTouch, Inc. introduces WealthTouch Portfolio Reporting; U.S. Bancorp prepares to go live on CheckFree APL to administer its separately managed accounts business; Barclays Capital announces two hires in Corporate Communications and Global Marketing.
City Networks upgrades its CityNet Enterprise Reconciliation Module (Insight); The DTCC introduces the first in a series of new mutual-funds-processing capabilities to support fund companies, broker/dealers, banks and other distributors; Penson Worldwide, Inc., will use SunGard's STN.
Harris Associates selects a trade-order management and FIX connectivity package from MacGregor; Javelin Technologies launches a new version of its Appia; The Canadian Derivatives Clearing Corp.is assigned an "AA" rating by S&P.
Abbey National Treasury Services deploys DataSynapse's LiveCluster distributed-computer infrastructure; Rolfe & Nolan Systems and DTN Market Access team up to offer a joint product; Evault releases its EVault InfoStage online backup and recovery software suite.
Merrill Lynch implements Mantas' Money Laundering Monitor and Broker Surveillance Monitor applications to detect money-laundering; South Africa's Standard Banking Group licenses Algorithmics' Algo Collateral platform.
Harris Associates selects the MFTP to automate its equity trading; Ontario Public Service Employees Union Pension Trust selects Eagle's Web-based portfolio-management system; U.S. Bancorp Piper Jaffray prepares to go live on CheckFree APL to administer its separately managed accounts business.
The Dallas Police and Fire Pension System selects JPMorgan Investor Services for its $1.9 billion in assets; Genesis Securities, LLC switches from its long-time clearing firm to clear and settle all trades through CCS; SunGard eProcess Intelligence selects intelliMATCH for automation of reconciliation activities within FSBA's investment operations.
ROI Reigns Supreme
The stock market is still faltering, budgets have been cut and colleagues continue to be laid off. The worst of it is tech execs are having trouble getting approval for technology projects that used to make their professional lives worth living.
BrokerTec Appoints New Chairmen; Researchsummary Nabs Salomon Exec; MarketAxess Lands TowerGroup's Andy Nybo
Patented Technique for Asset Allocation Expands to Advisers; Sun Beefs Up Solaris; Synthean Targets Financial-Adviser Market.
When it comes to implementing a wealth-management platform, is it better to buy, to build, or maybe a little of both?
Straight from SIBOS
Sibos, one of the largest financial-technology conferences of the year, descended on Geneva with business-continuity planning at the center of everyone's agenda.
No Proof, No Project
In tough economic times, proving return on investment is essential to justify projects. Merrill Lynch and Citibank Global Securities have complex ROI strategies in place.
Web Services Bootcamp; Bloomberg: Aware of Overtaxing But Can't Stop Collecting?
Scotiabank Taps Sanchez Line of Business Solution
As one of the largest banks in Canada with almost C$300 billion in assets, Scotiabank does its fair share of mortgage business. However, the bank was experiencing difficulties creating new mortgage products.
The Chicago Board of Trade names Bernard Dan its new CEO; NQLX and OneChicago are set for launch on November 8th; Euronext plans to complete the conversion of its Amsterdam market to screen-based trading by December 9.
Wall Street Source and Dow Jones Newswires team up to launch 1 Stop Pro; S&P's ComStock launches a high-speed satellite network for delivery of its XpressFeed real-time market data feed; CreditTrade will launch a Web-based data service early in 2003.
* Kamakura launches a new information service with default probabilities for multiple models; Algorithmics and Commerzbank partner to develop Algo OpModel.
DrKW chooses Calypso for its global-securities processing, with the first component of the new system going live for tri-party repo on Nov. 4, 2002; The DTCC provides financial representatives and planners with the ability to electronically transmit fund purchase, exchange and redemption orders through a real-time Web-based interface; TRPI goes live with One-Ten's Salerio e2e middleware solution.
SWIFT Preparation for Next Generation Standards
November 16, 2002. That's the deadline for financial services, banking and securities institutions worldwide to migrate the first set of SWIFT message types from the ISO 7775 messaging standard to the new ISO 15022 standard.
Reducing Complexity and Cost
Integrating market and credit risk tends to focus on the mathematics of the methodology. David Goucher, director of risk policy and development, SunGard, argues that this misses the point.