Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

News & Commentary
Content tagged with Trading Technology posted in August 2007
Nicholas-Applegate Overhauls Trading Systems
News  |  8/31/2007  | 
Vendors largely have replaced in-house development as the source for mission-critical tools, according to Nicholas-Applegate Capital Management SVP and CTO Steve Rapp. For example, the firm has partnered with Latent Zero to overhaul its trading systems. Learn more about Nicholas-Applegate's technology transformation through Wall Street and Technology's exclusive interview with Steve Rapp.

Microsoft Buys Parlano, Will Add Group Chat Software to Communications Server
News  |  8/31/2007  | 
Yesterday, Microsoft announced its intent to buy Parlano, maker of the MindAlign group chat software that eases collaboration among far-flung team members and provides support for the specific needs of Wall Street firms, including Chinese walls and security features. MindAlign is used by Wall Street firms such as ABN Amro, Cantor Fitzgerald, Deutsche Bank, Nomura, Putnam Investments and UBS.
State Street Upgrades Mutual Fund Accounting Customer Interface
News  |  8/29/2007  | 
Last night we dropped by a California wine tasting sponsored by State Street and NetManage at the Gartner Financial Services Technology Summit at the Times Square Marriott Marquis. At the reception, Jim Dobbie, vice president of State Street, told us a bit about how his firm has webified the applications it provides its mutual fund administration clients.
Skyrocketing Market Data Message Rates Leading Trading Firms to Consider Hardware Acceleration
News  |  8/24/2007  | 
With Reg NMS causing more quote message traffic in equities and options volume already exploding, vendors are pushing hardware acceleration to lower data latency.
Portware Opens Hong Kong Office
News  |  8/24/2007  | 
As overseas markets heat up, Portware announced it will open a Hong Kong office to support expansion in the Asia-pacific region and has appointed Damian Bierman head of Asian operations.
A United E-trade/TD Ameritrade Would Challenge Full-Service Brokerages
News  |  8/22/2007  | 
It was reported in the Wall Street Journal today that discount brokerages TD Ameritrade and E-trade have been in merger discussions for the past few weeks. A merger between these two would create a powerful force for Charles Schwab and for full-service brokerage firms to reckon with, despite the fact that the era of discount brokerage is ending. How can that be? According to Adam Honoré,
News  |  8/22/2007  | 
Until high-speed, low-latency technology becomes easier to acquire, install and integrate, there are going to be many disappointed vendors.
Symantec Releases New Storage Management Solution
News  |  8/22/2007  | 
The Veritas CommandCentral 5.0 family provides end-to-end visibility in both virtualized server and storage environments.
LogicManager Releases Updated Sarbanes-Oxley Solution
News  |  8/22/2007  | 
Enterprise risk management (ERM) software provider LogicManager launched a new solution to address the recent changes to Sarbanes-Oxley.
Dream Job: No Limits
News  |  8/22/2007  | 
Albridge Solutions expanded its Wealth Reporting portfolio accounting and performance reporting solution to include internal rate of return (IRR) and daily time-weighted rates of return calculations.
Data Message Rates
News  |  8/22/2007  | 
A surge in data message traffic is leading the industry to examine hardware acceleration to reduce data latency.
Employee Fraud Not Being Properly Addressed By Financial Industry, Government, Survey Says
News  |  8/22/2007  | 
Actimize survey cites increased access to technology, poor hiring and organized crime as drivers for employee fraud. Majority of those surveyed say the financial industry and government are not doing enough to tackle the problem.
European Exchanges See Booming Revenues
News  |  8/22/2007  | 
European exchanges recorded a 34% profit last year, making them far more profitable than their U.S. counterparts.
BI Costs Erroneously Perceived As Prohibitive, Say Software Companies
News  |  8/22/2007  | 
Despite the overwhelming belief that business intelligence (BI) could benefit their companies, perceived high costs have prevented BI professionals worldwide from deploying BI systems, according to a recent survey.
USB Flash Drives Represent Top Threat To Corporate Security
News  |  8/22/2007  | 
Removable media devices have surpassed Web viruses as top corporate security headache.
Demand for New Trading Technology Rising Globally
News  |  8/22/2007  | 
In the New York Tri-State Area, spend on trading applications is rising 10 percent per year.
Mutual Funds Submit First XBRL-Formatted Reports to SEC
News  |  8/21/2007  | 
Today four mutual funds - the Allegiant Advantage Fund, American Funds' Europacific Growth Fund, the Muhlenkamp Fund and the Vanguard 500 Index Fund - submitted their first XBRL-formatted risk/return summaries to the SEC. This means they've converted these summaries of fund objectives, costs, and performance - the part of prospectuses investors are most interested in - from static data to interactive data that can be automatically read by software, by tagging data fields according to a
ESP Names Joshua Levine CEO
News  |  8/20/2007  | 
Joshua S. Levine has been named CEO of DMA and algorithm provider Electronic Specialist (ESP).
Traditional Investigation Methods and New Tech Help Catch Insider Traders
News  |  8/20/2007  | 
As insider trading rises globally, regulators and banks are using complex event processing and remote-control software to catch rogue traders.
Who Will Eventually Foot the Bill for Cleaning Up the CDO and Sub-Prime Mortgage Mess?
Commentary  |  8/17/2007  | 
Once the dust settles, investors should ultimately pay the price for taking risky bets on CDOs.
News  |  8/17/2007  | 
Cherecwich has 20 years experience in custody, operations and investment services at State Street, including four years as head of the firm's Japan operations.
Deliso Joins DTCC’s Wealth Management Services
News  |  8/17/2007  | 
Nicholas A. Deliso has joined The Depository Trust & Clearing Corp. (DTCC) as a senior relationship manager in the wealth management services area, where he will provide support to customers of DTCC's Managed Accounts Service.
Societe Generale Names John Shaw Managing Director, Program Trading And Electronic Trading Services
News  |  8/17/2007  | 
Shaw previously was head of portfolio and electronic trading at Jefferies.
Broker-Neutral OMS/EMS Solution Can Address Rapid Change In Investment Industry
News  |  8/17/2007  | 
An integrated, broker-neutral OMS/EMS solution is the answer to the rapid change in both asset classet under management and the way in which they are traded, according to Fidessa LatentZero CEO Richard Jones
E-Discovery Compliance Growing Increasingly Difficult
News  |  8/17/2007  | 
As electronic data proliferates, complying with e-discovery rules becomes more difficult -- and more costly.
Still Plenty of Job Opportunities in the Capital Markets
News  |  8/17/2007  | 
In spite of trading floor automation, free online trading, and automated research tools, there are still plenty of job opportunities in the capital markets.
Goldman Sachs and Other Brokers Develop Alternative Research Platforms to Advise Buy-Side
News  |  8/17/2007  | 
With the SEC's approval of soft dollar commission arrangements, brokers are courting independent research providers in a race to win buy-side execution dollars.
Wall St. Opens It's Arms to Electronic 144A Marketplaces
News  |  8/15/2007  | 
This week has seen a flurry of activity in the development of electronic platforms for trading equity offerings by private companies that fall under a href=" https://en.wikipedia.org/wiki/Rule_144A" target="_blank">Rule 144A of the U.S. Securities Act. The rule allows for the private resale of securities between institutional investors, which gives private companies a means for raising capital without listing publicly. Nasdaq
Goldman Sachs to Buy Stake In DirectEdge ECN
News  |  8/13/2007  | 
Goldman Sachs Group agreed to purchase a minority equity stake in DirectEdge ECN, its parent Knight Capital Group announced today. Goldman will join Citadel Derivatives Group LLC, an affiliate of Citadel Investment Group, LLC, which purchased a minority equity interest in DirectEdge ECN in a transaction that closed on July 23, 2007.
Fidessa Signs on as Morgan Stanley Preferred Supplier
News  |  8/13/2007  | 
Morgan Stanley and Fidessa announced an agreement to distribute Morgan Stanley's electronic trading services through the Fidessa LatentZero Execution Management System.
Eaton Vance's John Shea Advances in Real Time
News  |  8/10/2007  | 
To enable new decision-making opportunities, Eaton Vance is moving toward service-oriented architecture and real-time delivery of services, according to VP and CIO John L. Shea.

Gold Book 2007: Alternative Investment Tech is Priority for John Galante, JP Morgan
News  |  8/8/2007  | 
John Galante, SVP and CTO for JPMorgan Worldwide Securities Services, says that as clients grow portfolios with derivatives and other alternative investments, JPMorgan is ready to meet their needs. Also, Galante says in this podcast he believes that having a steady flow of new recruits is vital for the company, as offerings and client needs expand.
Linedata, Goldman Offer Synchronized Blotter
News  |  8/7/2007  | 
Linedata Service's LongView order management system will soon include technology to synchronize its blotter with those of EMSs. The first co-development agreement was struck with Goldman Sachs' REDIPlus unit, which about 30% of Linedata's client base also uses, according to Gavin Little-Gill, senior vice president of product management, Linedata. Customers of both platforms will no longer need to manually transfer or upload data between their LongView and REDIPlus blotters, and can rest assured
Gold Book 2007: Firms that Master Web 2.0 Will Be Market Leaders, Says Jim Mazarakis, T Rowe Price
News  |  8/7/2007  | 
Jim Mazarakis, CTO at T Rowe Price, is confident that Web 2.0 will be an important way to engage with clients in the near future. Mazarakis also shares his top three projects, his views for the future of financial technology and other insights during this special Wall Street & Technology 2007 Gold Book podcast. Listen to this episode
Deutsche Asset Management Linking Investment Systems, Reports Sean Kelley
News  |  8/6/2007  | 
  • • Technology will help asset managers move to alternative business models
  • • Focus on improving alpha with technology
  • • Internal collaboration, and even tech for collaboration with clients, will grow
  • Steve Rubinow Leads NYSE Group Hybrid Market Rollout
    News  |  8/2/2007  | 
  • • Rollout of the Hybrid by year's end
  • • Introduction of the new NYSE Arca options platform
  • • Continuing efforts on the "Manhattan Project"
  • T. Rowe Price Eyes Continued Growth in India, China
    News  |  8/2/2007  | 
  • Consumer Web site enhancements aimed at keeping #1 Dalbar Ranking
  • Online communites, such as Second Life, may present an opportunity
  • Knowledge management expansion will continue to help improve customer experience
  • More Predictions About Reg NMS's and MiFID's Effect on Market Data
    News  |  8/2/2007  | 
    For the second time this week, a study has come out saying that Reg NMS and MiFID are going to trigger a dramatic increase in market data and in technologies for dealing with that data (read about the first report here). A Datamonitor study released today,
    Too Soon To Call the Demise of Labor Arbitrage?
    News  |  8/1/2007  | 
    When Peter Harrison, chief executive officer of IT outsourcing firm GlobalLogic, read a story we ran last week hypothesizing that India labor costs no longer justify outsourcing to that country (The End of Labor Arbitrage), he disagreed. Always happy to hear a contrarian view, we spoke to him today about what he's observed while running a large operation in India. Among his points: India's la
    Citi's New Global Execution Head to Focus on Consistency
    News  |  8/1/2007  | 
    Richard Evans has been promoted to head up Citi's global electronic execution business. In his new role, based in London, Evans will be charged with continuing Citi's drive to create consistent global electronic trading product offerings from agency program trading to transaction cost analysis, market data monetization and the Lava e-trading business.
    Lime Brokerage Serves Up Low Latency Data to Brokers
    News  |  8/1/2007  | 
    Lime Brokerage, a direct-access agency broker located in the Tribeca section of New York City, recently began offering a service bureau model providing low-latency market data to other brokers dealers, according to George Hessler, EVP at Lime who heads sales and strategy.

    Register for Wall Street & Technology Newsletters
    Exclusive: Inside the GETCO Execution Services Trading Floor
    Exclusive: Inside the GETCO Execution Services Trading Floor
    Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.