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News & Commentary
Content tagged with Trading Technology posted in July 2010
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The Goldman Sachs Profanity Police
News  |  7/30/2010  | 
Goldman Sachs, embarrassed by the profanity that was used in the now infamous email that was brought to light by Sen. Carl Levin during a Congressional hearing, has moved to prohibit employees from swearing in emails. Goldman is deploying technology that will screen for "bad" words in emails and text messages.
Pyxis Mobile Appoints IT Vet As New CEO
News  |  7/29/2010  | 
Steven Levy, who replaces Bob Mazzarella, co-founded and served as CEO for 15 years at Macgregor, an order management system (OMS) provider, where he led the sale of the software firm to ITG for approximately $250 million.
SBI Japannext PTS Joins Fidessa Global Network
News  |  7/29/2010  | 
Fidessa predicts that the launch of 'Arrowhead' by the Tokyo Stock Exchange will attract more liquidity from high frequency traders that like to trade on multiple venues.
OptionsCity Introduces Metro 2.2. for Equity Options Traders
News  |  7/28/2010  | 
Adds connectivity to BOX and exposes additional API functionality for clients integrating proprietary algorithmic trading engines.
Blaylock Robert Van Launches U.S. Equities Trading Platform Via Fidessa
News  |  7/28/2010  | 
Taps Fidessa's network of brokers and exchanges, as well as advanced algorithmic trading solutions, clearing, real time analysis, compliance and risk management features.
The Data Center of the Future
News  |  7/27/2010  | 
Given Wall Street's insatiable need for computing power and the ever-increasing cost of energy, firms inevitably will deploy energy-efficient hardware and technology, such as virtualization. But to build data centers that will remain cost-effective for years to come, organizations including the NYSE and Citi also are focusing on how they power and cool their facilities.
Breaking the Sales Model in the Cloud?
News  |  7/27/2010  | 
Cloud-based on-demand services may offer a way to reduce bloated infrastructure and data center spending.
Data Center Spending: $1.8 Billion (and Counting)
Commentary  |  7/27/2010  | 
To handle the increasing compute demands of financial firms, a good portion of IT budgets in 2010 and beyond will be spent on upgrading older technologies to make today's data centers more energy-efficient and more powerful.
Sell Side Continues to Invest in Data Centers
News  |  7/27/2010  | 
Financial firms spent $1.8 billion on data centers in 2009, and 2010 spending will go even higher, TABB Group says.
Financial Firms Forge Ahead With Innovation, Survey Finds
News  |  7/27/2010  | 
According to third annual "Digital IQ" survey from Diamond Management & Technology Consultants, 50% of firms say innovation was their primary strategic focus for 2009.
NASDAQ OMX to Acquire Market Surveillance System Provider SMARTS
News  |  7/27/2010  | 
The acquisition is part of NASDAQ OMX's strategy to diversify its commercial technology business and enter the broker surveillance and compliance market, Nasdaq said.
DTCC Releases New ISO Messages To Help Automate Corporate Actions Processing
News  |  7/26/2010  | 
In 2009, DTCC processed more than $3 trillion in corporate actions, and the release of these draft messages is a key element in DTCC's plan to automate and streamline corporate actions processing, the company said in a release.
Bank of America Merrill Lynch Rolls Out ETF Algorithm
News  |  7/26/2010  | 
Bank of America Merrill Lynch has rolled put ETF-aX, an exchange-traded fund algorithm which purports to identify the most efficient combination of ETF, stock, and futures and then automatically trade them to source liquidity and find the best prices.
Knight Capital Acquires Astor Asset Management for $20 Million
News  |  7/26/2010  | 
Knight Capital Group Inc said today that it acquired Astor Asset Management, LLC, a money management firm specializing in macro-economic strategy and the construction of exchange traded fund portfolios, for about $20 million in cash and stock.
Treasury Hires Morgan Stanley to Handle Citigroup Shares
News  |  7/26/2010  | 
The Treasury is selling Citigroup shares and has hired Morgan Stanley to manage the shares for them -- and to help the brokerage out.
Financial Advisors Spend 23 Hours A Week Online, Mobile Use Increasing
News  |  7/23/2010  | 
A survey by kasina of 536 financial advisors revealed that intranets are still the most commonly accessed sites, while social media use continues to increase and more than two-thirds share content with clients.
Interxion To Host Mission-Critical IT Applications For Lupus Alpha Asset Management
News  |  7/22/2010  | 
Lupus alpha offers specialist investment concepts to institutional investors.
Windward Advisory Group Hires Veteran Tech Expert Bob Shepro
News  |  7/22/2010  | 
Shepro was founder and CEO of Shepro Braun Systems, where he designed and brought to market the first integrated real-time trading, portfolio management, financial accounting, partnership and trust system for hedge funds and investment managers.
CQG Partners with Broco to Expand Trading Connectivity in Russia and Eastern Europe
News  |  7/21/2010  | 
Customers clearing through Broco will have access to CQG's decision-making tools, consolidated market data, and advanced electronic trading via the CQG Trader and Integrated Client platforms to route orders to CFE, CME Globex, EUREX, NYSE Euronext Liffe, and other exchanges.
Dark Pool Analytics Provide a Light in the Darkness
News  |  7/20/2010  | 
Buy-side firms are beginning to tap more sophisticated transaction cost analysis tools to help them navigate dark pools' murky waters and better target their dark strategies.
Buy-Side Use Of Algorithms Projected to Climb In 2011: Tabb Report
News  |  7/20/2010  | 
Buy-side use of algorithms is projected to climb next year as firms increasingly opt for self-directed trading as a way to cut costs, according to a new report by Tabb Group.
NYSE Technologies Launches Order Routing Direct Connectivity Service
News  |  7/20/2010  | 
Order Routing Direct uses technology that allows customers to seamlessly connect directly via FIX protocol with their trading counterparties and doesn't require routing back to a centralized hub.
Firms Still Not Analyzing Unstructured Real-Time News
News  |  7/19/2010  | 
Real-time news isn’t reliable enough to include in automated trading strategies, say industry executives.
Data Center Costs, Oversight Challenge the Sell Side in 2010
News  |  7/19/2010  | 
Financial services firms spent $1.8 billion on data centers in 2009, and TABB Group expects 2010 spending to go even higher.
What is the Best Low-Latency Tool? Try People
News  |  7/19/2010  | 
While faster chips and 10-gigabit Ethernet connections help, having the right developers and engineers is the key to winning the low-latency race.
Silicon: The Next Tool for Low Latency
News  |  7/19/2010  | 
GPUs and FPGAs can help lower latency, but they often are difficult to program or change, experts caution.
Is Financial Services IT Innovation Dead?
News  |  7/19/2010  | 
Has IT ingenuity fallen victim to cost and compliance pressures? Four of the financial services industry’s top technology leaders offer their opinions in exclusive interviews.
TGIF: Goldman Sachs' Hot Advice
News  |  7/16/2010  | 
In this Funny or Die video, Goldman Sachs insists the firm is not to blame for the financial crisis...
Sophis Seals Contract With China Re Asset Management
News  |  7/16/2010  | 
The Sophis VALUE system includes front-to-back office, risk management, and centralized data management modules.
Performa Deploys Eagle's Investment Management Suite
News  |  7/15/2010  | 
Performa, which has more than $2 billion in assets under management, is leveraging Eagle to run its core investment processes as well as to facilitate accounting and administration, data management, GIPS composite management, fixed income performance attribution, and client reporting
Active Investor Market Offers Growth Opportunity For Online Brokerages
News  |  7/14/2010  | 
New Celent reports finds that by 2012, the active investor market will reach 16 million investors, making up 40% of the self-directed market. But online brokerages will need to enhance their platforms to remain competitive.
Tech Stocks Still Doing Well Despite Volatility
News  |  7/14/2010  | 
Even through a faltering economy, technology companies have performed consistently well.
Circuit Breakers: Yes, But Will They Work?
News  |  7/14/2010  | 
Last month the SEC started a pilot program that established circuit breakers for the S&P 500. In this video, Wall Street & Technology editor-in-chief Greg MacSweeney talks with Larry Tabb, founder and CEO of TABB Group, about whether the circuit breakers will actually succeed.
Princeton Financial Systems Releases MIG21 7.0 Compliance Solution
News  |  7/13/2010  | 
The new technology and functionality of MIG21 7.0 boosts the quality of configuration transfer while further accelerating the configuration process, according to Princeton.
Advent Integrates SunGard’s Valdi Liquidity Algorithms To Moxy
News  |  7/13/2010  | 
Advent Software has integrated SunGard’s Valdi Liquidity Solutions algorithmic trading strategies with its Moxy electronic order routing system, a move the firm said will ultimately streamline workflow and sharpen execution.
Interxion Offers Low-Latency Access to BATS Europe
News  |  7/13/2010  | 
BATS Europe's system latency averages 350 microseconds, including matching engine latency of 250 microseconds and circuit latency of 100 microseconds.
Interactive Data Builds Fund Trading Portal for Julius Baer
News  |  7/12/2010  | 
Interactive Data Corp. has unveiled Fundstrading, a fund trading portal for the Swiss bank Julius Baer which provides real-time prices for more than 300 investment funds throughout the trading day.
Interxion Unveils Low-Latency Access To BATS Europe
News  |  7/12/2010  | 
Interxion, a European provider of carrier-neutral data center services, said today that it’s now offering low-latency access to the BATS Europe multilateral trading facility.
Warsaw Stock Exchange to Migrate to NYSE Technologies' Universal Trading Platform
News  |  7/12/2010  | 
Warsaw bourse to move cash and derivatives trading to NYSE Euronext platform, and open WSE products to NYSE SFTI connected community.
TGIF: Financial Advice From A Hedge Fund Manager? Um, No Thanks.
News  |  7/9/2010  | 
Hedge funds had a great year in 2009, making up for many of their losses in 2008. That got a group of comedians thinking, if hedge funds still know how to make money, maybe hedge fund managers can dispense all kinds of financial advice. From the Upright Citizens Brigade Theater, the sketch group Hot Mess performs for American Public Media's Marketplace report.
Paradice Investment Management Went Live With Eze OMS
News  |  7/8/2010  | 
Sydney-based asset manager looks to ConvergEx Eze Castle system to handle global trading and compliance.
Aite Group Adds Ex-Bank Of America Exec To Wealth Management Team
News  |  7/8/2010  | 
Before joining Aite Group, Schmitt served as sales process manager for Bank of America's Global Wealth and Investment Management groups, including the former Premier Banking & Investments group.
TradeKing Hires Ex-Associated Press And Borders IT Exec As First CIO
News  |  7/7/2010  | 
The 5-year-old online investment/social networking site has more than $1.2 billion in assets under management, 224,000 account holders and 84 employees in Boca Raton, Fla., and Charlotte, N.C.
Bloomberg Professional Launches Derivatives Valuation Service
News  |  7/7/2010  | 
The new service provides comprehensive end-of-day valuations and risk measurements for a full range of OTC derivatives and structured products.
Banco Espirito Santo Selects Calypso Technology For Front Office Derivatives Trading
News  |  7/6/2010  | 
The Calypso system will support the bank’s trading of cross-derivative products, including interest rate, credit, equity, FX and commodity derivatives from an integrated trading, risk management and processing platform.
TGIF: Obama Gets A Late-Night Visit From Bush, Clinton To Debate Financial Reform
News  |  7/2/2010  | 
In this Funny Or Die video clip, as President Obama sweats over financial reform legislation, he receives a late night visit from ex-Presidents Bush Sr., Bush Jr., Clinton, Ford, Reagan and Carter to get a few pointers...
Attachmate Tackles Insider Fraud With Luminet
News  |  7/2/2010  | 
Luminet captures user activity across the enterprise, helping organizations to protect sensitive data, reduce internal fraud and enable regulatory compliance, according to Attachmate.
SEC Circuit Breaker May Not Have Stopped May 6 Crash
News  |  7/1/2010  | 
Shares of Citigroup Inc. triggered alarm across Wall Street last week when an erroneous trade sent the banking giant’s stock down 17 percent, activating the U.S. Securities and Exchange Commission's two-week old circuit breaker.
Advent Unveils New Version Of Portfolio Management And Fund Accounting Solution
News  |  7/1/2010  | 
Geneva 8.0 introduces middle office functionality, out-of-the-box integration to counterparties and data providers, and easy to use and customizable access to real-time data.
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