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 Cory Levine

Profile of Cory Levine

Blog Posts: 239
Articles by Cory Levine

MEGA Improves Its GRC Suite

Version 3.0 of MEGA International's governance, risk and compliance software offers solutions designed to appeal to different types of users and ensure integration with current systems.

Stopping ID Theft With Biometrics

Accenture recommends the use of biometric solutions — specifically, fingerprint readers — to prevent identity theft.

Latency Risk Exposure On the Rise

In 2008, 16 percent of all U.S. institutional equity commissions are exposed to latency risk, totaling $2 billion, according to a new report from the TABB Group.

Goldman Sachs Enhances REDIPlus EMS

Version 8.0 of GSET's REDIPlus proprietary execution management system includes a revamped front end, additional foreign languages, and expanded algorithmic offerings.

Optimizing the Web for Sales

Fund companies should view the Web as a 24/7 wholesaler that can extend a broader reach to investment advisers than the distribution team of any single asset manager, says kasina.

Business Analysts Are In Demand

Business analysts with derivatives experience and knowledge of exotic products can expect a higher boost in salaries.

Interdealer Brokers Should Be Feeling Good About Themselves

The top interdealer brokers (IDBs) will see revenue growth as volume in over-the-counter (OTC) markets continues to increase. In addition, barriers to entry will keep the IDBs fairly safe from the threat of new competition.

Outsourcing Losing Its Luster

Broker-dealers will be able to offer primary and multicustodial brokerage and direct-to-fund account opening from one system.

Direct Market Access to Continue Steady Growth

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.

Electronic Trading Drives FX Market Growth

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

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

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.

Identity Fraud on the Decline

Despite the hype, identity fraud is on the decline, according to a new survey. But as fraudsters return to traditional channles, such as phone lines, to steal the trusting public's personal information, few financial instituions have implemented multifactor authentication for telephone banking.

BioPassword Monitors Rhythm of Typing

Authentication provider adds improved monitoring and reporting capabilities to its authentication platform, which monitors the typing rhythm of users.

Wealth Management Firms Need Tech Upgrade

As 73 million baby boomers begin to hit retirement in 2008, a massive shift is occurring from accumulation of wealth to distribution, according to a report from Celent. But in order to effectively serve retired clients, wealth management firms are going to need to upgrade their technology.

Weather Derivatives Traders Get Starter Kit

YellowJacket, Risk Management Solutions and MDA EarthSat Weather combine their offerings to create a suite of services designed to enhance weather trading operations.

TraceSecurity Launches Risk Manager Solution

Risk Manager enables companies to protect confidential data from physical and electronic threats, as well as demonstrate a verifiable and repeatable methodology for security

Brokerages Still Fail to Offer Full Web-Based Banking Services

New Corporate Insight report suggests only 40 percent of brokerages can truly be considered a full 'bankerage,' defined as a brokerage that offers traditional banking products, including FDIC-insured savings and checking accounts, with all accounts accessible via a single Web login.

TKS’ Penny Gets a Pickup

New York-based TKS Solutions has expanded the feature set of its flagship partnership and shareholder accounting software, Penny.

Rule 22c-2 Won't Work, Says Study

According to survey results released earlier this month, the recently effective SEC Rule 22c-2 may not be the end-all solution for mutual fund market timing abuses.

Lloyds TSB to Outsource Back Office to Wachovia

Last week Wachovia and Lloyds TSB Bank announced that Wachovia's Hong Kong operation will take over trade back office processing from the UK bank. Details of the agreement were not released, but Wachovia did reveal that by early next year, it will fully take over trade processing.

SEC Appoints Lineberry, Plotkin Pleads Guilty to Insider Trading

The SEC's Office of Market Surveillance, which enforces regulation on U.S. markets, appointed a new head in Mark Lineberry. He steps in for Joe Cella, who resigned earliers this year, according to reports. Lineberry comes into the position during a flurry of activity surrounding insider trading. The SEC has of late stepped up its efforts to

Wall St. Opens It's Arms to Electronic 144A Marketplaces

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

John Schmidlin Resurfaces at NYSE Regulation

Here's quick bit of appointment news from last week. Former JP Morgan Chase CIO, John Schmidlin has joined the board of directors for NYSE Regulation, the regulator announced. Schmidlin spent 35 years at JPMC, working his way up from management trainee to stepping down from the CIO position in 2004. Prior positions at JPMC included h

Diane Schueneman Plans for Merrill Lynch's Future

Completion of infrastructure build-out creates "gobal support model", 70 percent of technology investments channeled into new development, Straight-through processing platforms for high-volume a priority

Instinet Sees Shakeup at the Top, CEOs Resign

Interagency broker Instinet, a subsidiary of Nomura Holdings, Inc. will see three of its top leaders step down in a major overhaul of the boardroom. The firm announced last week that co-CEOs John Fay and Alex Goor will pursue other interests, while Chairman Ed Nicoll is stepping down from his post, and is in negotiations for a special advisor

SIFMA Chief Lackritz Testifies Before Senate

Marc Lackritz, CEO of the Securities Industry and Financial Markets Association, and the voice of the U.S. broker-dealer community, testified last week in front of the Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investments. In his testimony, Lackritz reaffirm

Wall St. Still Unprepared for Pandemic, SEC Mulls Action

The United States Government Accountability Office released a report (PDF) on its latest year-long study on the resiliency of U.S. financial markets last week, and the results were mixed. After examining seven critical exchanges, clearing organizations, and payment processors, the <

Cuomo Wins Big on Data Privacy

New York's Attorney General Andrew Cuomo last week obtained the first settlement in court under the state's data breach notification legislation. While the punishment of the exposed company, Chicago-based claims management firm CS Stars, LLC, was relatively light, the development opens up new legal vulnerabilities fo

Citi Restructuring Focuses on Cutting IT Costs, Jobs

Citi laid out its plans for a major restructuring as anticipated this morning. The financial supermarket expects to realize an extraordinary $2.1 billion in savings this year, which it expects to grow further, reaching $4.6 billion in 2009. While this news is stellar for shareholders, it is a dispiriting announcement for the bank's

ISE CEO Krell Announces Retirement

International Stock Exchange boss and industry luminary David Krell announced his retirement this week, effective at the end of the year. While he will vacate the role of CEO, the exchange's Board intends to elect him as Chairman. He will be succeeded by current COO Gary Katz. Katz and Krel

22c-2 Compliance Date Nears

The April 16 compliance date for SEC Rule 22c-2 is fast approaching, and in less than two weeks, mutual funds and their intermediaries will have to have fleshed out their information-sharing agreements. Last year, funds and intermediaries alike reported their struggle to develop these agreements, which should now be near

Schapiro: Regulatory Sea Change on the Horizon

The very foundation of market regulation in the U.S. is under question, and could soon follow the model of European regulators, indicated NASD CEO Mary Schapiro at an industry conference last week. It seems as though rule-based lawmaking is slowly going the way of the buffalo and a principles-based approach, such as that utilized by the U.K.'s

NASD Gives BrokerCheck a Face Lift

NASD announced today that it has updated and redesigned its BrokerCheck service -- a public, online service for reporting on the background of NASD member-firms. The update, says the regulator, should provide much-needed improvement in the usability and effectiveness of the service. Speaking from experience, the previous version of the

Lobby groups have convinced the SEC to conduct a rare review of market-data fees, reenergizing a spirited debate.

TowerGroup Predicts Growing Demand for Defined Contribution Plans

TowerGroup (Needham, Mass.) is urging CTOs to prepare for an influx in demand for defined contribution plans. According to the firm's recently released research on the effects of the Pension Protection Act of 2006 changes initiated by the Act -- such as automatic enrollment and deferral provisions -- will result in a doubling of participant contributions in U.S.-defined contribution plans, reaching $204 billion in 2011.

The Money's in MiFID

U.K. recruitment firm Joslin Rowe released a notice this week of what it is calling a "recruitment timebomb" for MiFID consultants. With just nine months to go before EU financial institutions are expected to be compliant with the Markets in Financial Instruments Directive, demand is soaring for experts who can help firms reach compliance.

RFA’s eHarbor Backs Up Hedge Fund E-Mail

New York-based hedge fund solutions specialist Richard Fleischman & Associates (RFA) released eHarbor, an e-mail data backup and restoration solution designed specifically with hedge funds in mind.


The Content Technology Solutions division of Dow Jones (New York) has launched a Wealth Manager Web site that aggregates news feeds and presents wealth managers with reasons for making contact with clients, the company says.

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