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News & Commentary
Content tagged with Trading Technology posted in November 2002
TowerGroup Replaces Tabb as Head of Securities and Investment Practice
News  |  11/26/2002  | 
TowerGroup's Larry Tabb is named senior strategy advisor for the company. Rob Hegarty has been chosen to replace him as vice president of the Securities and Investment Practice.
The Fat Lady Sings: GSTPA To Dissolve
News  |  11/22/2002  | 
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.
GSTPA Funding Discussions Underway
News  |  11/21/2002  | 
The GSTPA has asked some of its members to pony up more cash but whether they will remains to be seen.
SuperMontage: Customer Expansion on Horizon?
News  |  11/21/2002  | 
Nasdaq, engaged in a heated battle with Instinet/Island for liquidity and market share, is considering expanding the quoting capabilities of its SuperMontage network.
Industry Players Offer Practical Advice for Cleaning Up Reference Data
News  |  11/21/2002  | 
Financial-services firms scramble to improve their reference data to achieve STP and in turn improve efficiency, reduce errors, lower risk and save money.
ELECTRONIC TRADING
News  |  11/21/2002  | 
NeoNet brokers a deal with Macgregor; OneChicago plans to list 23 new contracts on Nov. 22; IntercontinentalExchange elects a new board of directors.
MARKET DATA
News  |  11/21/2002  | 
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.
RISK-MANAGEMENT TECHNOLOGY
News  |  11/21/2002  | 
PWC reports that financial firms struggle with inadequate data gathering and measurement tools; Townsend Analytics introduces new features to its RealTick 7.6 platform.
INVESTMENT-MANAGEMENT TECHNOLOGY
News  |  11/21/2002  | 
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.
OPERATIONS
News  |  11/21/2002  | 
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.
Merrill Outsources Broker Workstations: Thomson Wins Big
News  |  11/14/2002  | 
Merrill Lynch and Thomson Financial team up to build new Wealth Management Platform to combine market data, financial planning tools and CRM onto one platform.
Instinet CEO Ed Nicoll Provides Update on Island Integration and ETF Strategy
News  |  11/14/2002  | 
Instinet's new CEO gives his thoughts on the Instinet/Island integration timetable, as well as the restructuring of the firms' combined ETF strategy.
Shanghai Surprise: Company To Place Outsourcing Center in China, Not India
News  |  11/14/2002  | 
India may have the lead when it comes to outsourcing application development but some see China as the offshore destination of tomorrow.
ELECTRONIC TRADING
News  |  11/14/2002  | 
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.
MARKET DATA
News  |  11/14/2002  | 
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.
RISK-MANAGEMENT TECHNOLOGY
News  |  11/14/2002  | 
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.
INVESTMENT-MANAGEMENT TECHNOLOGY
News  |  11/14/2002  | 
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.
OPERATIONS
News  |  11/14/2002  | 
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
News  |  11/11/2002  | 
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.
Product Watch
News  |  11/11/2002  | 
Patented Technique for Asset Allocation Expands to Advisers; Sun Beefs Up Solaris; Synthean Targets Financial-Adviser Market.
IT Challenge
News  |  11/11/2002  | 
When it comes to implementing a wealth-management platform, is it better to buy, to build, or maybe a little of both?
Listening Post: Questions Around WLANs Linger
News  |  11/11/2002  | 
Wireless-local-access networks promise benefits of convenience and flexibility, but questionable security is causing some firms to stay away.
Wealth Management Takes Center Stage at WS&T Conference
News  |  11/11/2002  | 
Wall Street & Technology's Wealth Management Technology Conference gave insiders a chance to address the challenges that come with entering this growing space.
Not What it Used To Be: Risk-Management-Technology Spending
News  |  11/11/2002  | 
Overall, risk-management-technology spending is slowing, but credit-risk spending continues to grow.
ADF Looks to Bypass ITS For Listed Equities
News  |  11/11/2002  | 
The National Association of Securities Dealers' Alternative Display Facility hopes to offer ECNs a way around the Intermarket Trading System, but hurdles remain.
STP in the Bond Market? Not Yet, But Electronic Initiatives Are Gearing Up
News  |  11/11/2002  | 
Looking to push the fixed-income community closer to straight-through processing, the Bond Market Association plans to build a standard-messaging hub and launch an advanced version of FIX.
Scotiabank Taps Sanchez Line of Business Solution
News  |  11/8/2002  | 
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.
IDC Acquires Meridien in Quest for International Financial-Services Research and Advisory Firm
News  |  11/7/2002  | 
IDC expands its reach into the financial-services technology world with the acquisition of Meridien Research.
The Future of Wealth Management: Aggregation and Advice Combined
News  |  11/7/2002  | 
The financial-services industry may be seeing the future of wealth management in the form of two vendors that are integrating wealth-management functionality and data aggregation.
ELECTRONIC TRADING
News  |  11/7/2002  | 
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.
Financial Institutions To Spend More On Wealth Management Technology
News  |  11/7/2002  | 
Financial institutions will see a 5 percent compound annual growth rate in IT spending for wealth management by 2005.
MARKET DATA
News  |  11/7/2002  | 
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.
RISK-MANAGEMENT TECHNOLOGY
News  |  11/7/2002  | 
* Kamakura launches a new information service with default probabilities for multiple models; Algorithmics and Commerzbank partner to develop Algo OpModel.
INVESTMENT-MANAGEMENT TECHNOLOGY
News  |  11/7/2002  | 
IFDS selects FIX.NET Server 2002 FIX; GIS appoints Barry McConville to managing director of GIS Europe.
OPERATIONS
News  |  11/7/2002  | 
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
News  |  11/7/2002  | 
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.


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