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News & Commentary
Content tagged with Trading Technology posted in April 2008
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Rising Concerns over Fraud Management
News  |  4/30/2008  | 
The lack of robust enterprise-wide case management is the single biggest cause of concern for financial firms.
IBM Buys InfoDyne
News  |  4/30/2008  | 
Big Blue will connect InfoDyne's market data platform with WebSphere middle- and back-office processing technology
Want Your IT to Look Like Wachovia's? Call Tony Bishop
News  |  4/29/2008  | 
We checked in yesterday with former Wachovia IT wunderkind Tony Bishop, who led a three year IT re-architecture effort at the firm (you can read about some of his work here). Last fall, Bishop, then a Wachovia senior vice president, took 15 of his staff and left to start his own consulting firm, called Adaptivity.
Securities Industry Wins Right to Paperless Trade Confirms
News  |  4/28/2008  | 
Goldman Sachs, Merrill Lynch and other firms have convinced the SEC that paper disclosures are no longer necessary for trade confirmations
A CEP Toolkit Just for Quant Researchers
News  |  4/25/2008  | 
Intrigued by Vhayu's announcement of a complex event processing tool geared toward quant researchers, yesterday I looked at this software. It gives quants a means to look for patterns, test ideas and strategies and run what-if scenarios against massive volumes of real-time and historical tick data. It combines some of the features of mathematical algorithmic modeling tools (such as Numerix and Algorithmics) with a fast historical and real-time tick database (a la Vhayu, Kx) with a front-end comp
Brokerage IT Spending Expected to Grow 1.3% Through 2011
News  |  4/23/2008  | 
Brokerages have dramatically slowed but not stopped their IT spending, according to a report released today by Oliver Wyman/Celent
ITG Targets Students to Recruit Trading, Technology and Quantitative Talent
News  |  4/17/2008  | 
ITG CEO Bob Gasser has overhauled the firm's recruitment process to target a younger, more tech-savvy talent pool rather than mid-career-level prospects.
Baby Boomers Prefer Paper Statements and Prospectuses
News  |  4/17/2008  | 
Aite Group recently asked a group of 505 U.S. baby boomers (251 pre-retirees and 254 recently retired) how they like to receive brokerage financial statements and prospectuses and to what extent they would like these to be paperless. Surprisingly, they're not as willing to forego paper as one might expect in these carbon-footprint-conscious times.
Morgan Stanley Stands Up At Salesforce Revival
News  |  4/16/2008  | 
Salesforce.com's Tour de Force event this morning was the closest I've ever come to attending a spiritual revival like the ones on TV. There was loud pop music, a charismatic and telegenic leader (CEO Marc Benioff) with a strong and clear if narrow-minded message (which is: utility or cloud computing is the future path for all business applications, preferably hosted on Salesforce.com's servers and software platform), dazzled audience members obediently yet enthusiastically nodding and clapping,
Web Services 2.0 Make Good on the Web's Promises of Flexibility and Customization
Commentary  |  4/15/2008  | 
Now that Web services have gone 2.0, new service-oriented business applications (SOBAs) offer complete, cost-effective adaptability to unique business models, processes and best practices.
Merrill Lynch Speeds Up Application Development
News  |  4/15/2008  | 
Merrill Lynch developers are turning a Microsoft framework into a customized platform for rapid application development.
Consulting Firm ALaS Hires Ex-JPMorgan Vet Erik DiGiacomo
News  |  4/15/2008  | 
DiGiacomo previously worked at Washington Mutual Bank and JPMorgan.
TABB Hires Former Amex Executive Miranda Mizen
News  |  4/15/2008  | 
Mizen will leverage her extensive global capital markets experience in her new position.
Managing the Desk: Technology Documentation
News  |  4/15/2008  | 
Technology implementations on the trading desk can be daunting tasks. But proper project documentation can alleviate the madness.
Rosenblatt Securities Expands NYSE Floor Operations With Gordon Charlop Appointment
News  |  4/15/2008  | 
Bucking the trend of shrinking exchange floor operations, Rosenblatt Securities appointed Gordon Charlop as managing director and head of the firm's New York Stock Exchange operations.
Outsourcing Losing Its Luster
News  |  4/15/2008  | 
Broker-dealers will be able to offer primary and multicustodial brokerage and direct-to-fund account opening from one system.
CDC Releases New CRM Platform as a Software-as-a-Service Offering
News  |  4/15/2008  | 
The solution can be used on an on-demand basis through a Web portal or deployed internally by the client.
Quod Releases Solution for Buy-Side Execution Management
News  |  4/15/2008  | 
Advanced Smart-Order Router (ASOR) uses the algorithms in Quod's sell-side solution to bring new levels of routing capabilities to the buy side, the vendor says.
Wall Street Project Management Offices Focus on Derivatives
News  |  4/15/2008  | 
The latest trend and challenge for Wall Street's project management offices is the need to push through derivatives automation projects.
What Is a Project Management Office?
News  |  4/15/2008  | 
The basics of project management offices on Wall Street.
CIOs Say Projects Are Late and Over Budget
News  |  4/15/2008  | 
Harvey Nash/KPMG survey shows across-the-board difficulties in meeting schedules and sticking to budgets, but PMOs and other solutions offer hope.
Overbearing Market Reform Will Only Slow Market Innovation
Commentary  |  4/15/2008  | 
As investors call for extensive regulatory oversight of certain derivatives, regulators must be careful not to create a regulatory crutch that removes innovation from the markets.
The Massive Growth of Electronic Bond Trading
News  |  4/15/2008  | 
Electronic trading represents 57% of the U.S. fixed income market's average daily volume and will reach 62% by 2010, according to Celent.
Content Router Delivers 10 Million Trade Messages Per Second
News  |  4/15/2008  | 
Solace has upgraded its hardware messaging solution with a larger chassis, new market data router and network accelerator
Fund Administrator Speeds Up Report Creation from Four Hours to Five Minutes
News  |  4/14/2008  | 
To keep up with new business demands, Alps uses software to shave time out of manual processes.
Can Wall Street Learn to Sustain Cost Reduction?
News  |  4/14/2008  | 
I had lunch with Bob Gach, global managing director capital markets at Accenture, last week. We chatted about a number of topics but one of the most interesting was Wall Street 's quest for sustainable cost reduction.
Opportunities Beckon Amid Economic Turmoil
Commentary  |  4/14/2008  | 
A shaky economy and the defibrillation of many fixed-income products provide fertile ground for automated trading, fixed-income ECNs and exchanges -- as well as opportunities for those willing to take some calculated risk.
Advisers Turn to Asset Managers for Advice During Economic Slump
News  |  4/14/2008  | 
Nearly all financial advisers say the ability of a fund company wholesaler to deliver an informed opinion impacts their transaction decisions.
Gartner Offers Financial Institutions Tips to Broaden Client Relationships
News  |  4/14/2008  | 
By helping customers better manage their finances with access to external data, financial institutions can broaden their customer relationships and meet some of their own short-term cost and revenue challenges.
Instinet Launches Enhanced Algo Suite
News  |  4/14/2008  | 
Network Accelerator Makes Ethernet Networks Infiniband-Like
News  |  4/11/2008  | 
If yours is like many Wall Street firms, you'd like to upgrade the one-gigabit Ethernet networks in your data centers to speed up applications, but you're not sure you want to make the leap to an exotic alternative like Infiniband or Fibre Channel. Startup company Teak Technologies offers a radically different idea: replace your end-of-row network switches with a layer of small, local switches that fit directly into racks or blades and, according to Teak, can accelerate an Ethernet network, save
Direct Market Access to Continue Steady Growth
News  |  4/11/2008  | 
Celent estimates that 15 percent to 18 percent of current U.S. equities flow goes through direct market access (DMA) pipes, a number that is expected to increase to 20 percent by 2010.
Financial Institutions Evaluate Biometrics
News  |  4/11/2008  | 
While financial institutions aren't yet ready for consumer-facing biometrics deployments, these technologies are gaining popularity for behind-the-scenes authentication.
Is Wall Street Ready for the iPhone?
News  |  4/11/2008  | 
With capital markets firms already exploring the use of trading applications on BlackBerrys, is Wall Street ready for the iPhone?
Options Traders Lack TCA Tools
News  |  4/11/2008  | 
Electronic Trading Drives FX Market Growth
News  |  4/11/2008  | 
While the eventual replacement of telephone and voice-based trading is a foregone conclusion, the industry conversion to electronic trading is happening even faster than expected. Research from CME Group predicts that by 2010 more than 80 percent of all cash business will be executed electronically.
Watching the Value of IT Assets
News  |  4/11/2008  | 
Companies are constantly acquiring, disposing of and moving physical IT assets, making it exceptionally difficult to keep an up-to-date record of the value of fixed assets. Assetware recommends conducting a physical audit.
Hedge Funds Say Technology Is Critical to Business
News  |  4/11/2008  | 
Hedge funds are focusing their technology efforts on improving automation around OTC derivatives, as well as adding collateral management technology and exerting better control over prime brokerage charges and rates, according to a new Aite survey.
Putnam Investments Sees Competitive Advantage in Building OTC Derivatives Pricing Engine In-House
News  |  4/11/2008  | 
To verify prices from brokers and other outside sources, Putnam Investments developed an internal OTC derivatives valuation engine using grid computing.
Buy Side Seeks Independent Valuation Providers for OTC Derivatives After Credit Crisis
News  |  4/11/2008  | 
With the credit markets in turmoil over OTC derivatives valuations, buy-side firms are tapping vendors to avoid the conflict of interest inherent in broker-determined prices.
Sell-Side Firms Dedicate 63% of Servers to High-Performance Computing
News  |  4/10/2008  | 
Increasing data volumes and algo trading have driven bulge-bracket firms to triple their use of HPC in two years
The Philadelphia Stock Exchange
Trading Floors  |  4/10/2008  | 
The Philadelphia Stock Exchange, created in 1790, was the first U.S. stock exchange. And in 1975, the exchange became the first regional exchange to trade equity options.
IBM, Sun Roll Out New Servers for Multithreaded Apps
News  |  4/9/2008  | 
Servers pack dozens of processors, can handle 128 threads
More Remedial Derivatives Technology Emerges
News  |  4/8/2008  | 
You know markets are suffering when the latest new features vendors tout for their products have to do with liquidation pricing. This morning, SuperDerivatives announced it will provide the liquidation price (or 'exit price') of all derivatives held within clients' portfolios. Under the terms of FAS 157, firms are required to define the exit price of all instruments to calculate fair market value or "...the price that would be received to sell an asset or paid to transfer a liability."
The Technology Challenges Ahead for the JPMorgan/Bear Stearns Merger
News  |  4/7/2008  | 
Now that JPMorgan has announced that Peter Cherasia, head of global technology and operations at Bear Stearns, will stay on to manage technology, operations and real estate worldwide for JPMorgan's investment bank, he and the other surviving IT managers have a job ahead of them to merge the technology and operations of the two behemoth firms.
Julio Gomez Departs Financial Insights to Launch Gomez Markets
News  |  4/3/2008  | 
Gomez is developing a new model for market intelligence in capital markets.
T-Zero, Omgeo Respond to Call for Better Derivatives Processing
News  |  4/3/2008  | 
Vendors are stepping up their offerings to automate novations and repurchase agreements
Buy Side Still Laissez-Faire About Derivatives Processing
News  |  4/3/2008  | 
La plus ca change, la plus c'est la meme chose -- when I mix my eighth-grade-level French with a report the Aite Group released this morning on buy-side OTC derivatives processing, this is what I come up with. As we reported last summer, sell-side firms (with a major push from the Fed) are working hard to automate derivatives processing; b
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