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By Cory Levine, Wall Street & Technology

In a widely anticipated move, the NASD and NYSE Group this week announced their plans to merge regulatory arms into a single self-regulatory organization. The merger appears to be an effective play toward regulators’ aim to increase the efficiency and consistency of industry oversight, while reducing regulatory costs. However, there’s at least one constituency that can’t be thrilled about details of the announcement.

By Greg MacSweeney, Wall Street & Technology

Avoiding "reputation risk" is a common justification for increasing security measures, protecting customers' financial information and reporting security breaches in a timely manner. But now more than 18 months after the big ChoicePoint incident when 163,000 accounts were affected by ID thieves, the doom and gloom that financial services risk professionals have predicted has failed to come true.

By Tim Clark, Wall Street & Technology

BNY ConvergEx Group , a provider of agency brokerage and investment technology solutions, recently launched Jaywalk 360, a research service designed to deliver in-depth analysis from its BNY Jaywalk Independent Research Provider (IRP) network.

Ivy Schmerken, Wall Street & Technology

Creditex completed its merger with CreditTrade, underscoring plans to create a global leader in voice, hybrid and electronic execution in the credit derivatives market. The transaction, announced on July 25, has received both NASD and FSA approvals, according to Tuesday’s release.

Ivy Schmerken, Wall Street & Technology

Tradeware Global Corp. has established an agreement with Interacciones Casa de Bolsa, among the largest Mexican brokers, to provide electronic direct market access (DMA) to the Mexican Stock Exchange through FIX connectivity.

Ivy Schmerken, Wall Street & Technology

The Boston Options Exchange (BOX) has filed with the Securities and Exchange Commission (SEC) to participate in the penny pilot program for option trading, which will begin on Jan. 26, 2007. In addition, BOX has also filed a quote mitigation plan to help manage market data traffic, according to the announcement.

Ivy Schmerken, Wall Street & Technology

The ISE Stock Exchange will unveil its fully displayed stock market on Friday, Dec. 8, according to an announcement by the publicly traded International Securities Exchange (ISE), which also operates the leading all-electronic U.S. options exchange.

Cory Levine, Wall Street & Technology

While I was eating leftover turkey last week, London's Financial Services Authority (FSA) completed a resiliency test of its financial markets and found that in the event of a bird flu pandemic, the backbone of the U.K. economy would be able to continue operating.

By Tim Clark, Wall Street & Technology

In an effort to meet its rapid expansion in Scotland, UK-based Barclays Wealthrecently announced that it will create 500 jobs in Glasgow over the next three years.

Ivy Schmerken, Wall Street & Technology

Penson Worldwide agreed to acquire the clearing business of privately held Schonfeld Securities, LLC, a New York-based securities firm, which has been a pioneer in active trading.

Ivy Schmerken, Wall Street & Technology

Penson Worldwide agreed to acquire the clearing business of privately held Schonfeld Securities, LLC, a New York-based securities firm, which has been a pioneer in active trading.

Ivy Schmerken, Wall Street & Technology

Direct market access broker NeoNet Securities plans to offer connectivity to Asian markets next year and will expand its staff at its Jersey City, New Jersey headquarters.

The expansion of its exchange connectivity will start during the first half of next year, with the Tokyo Stock Exchange in Japan, according to Greg Treacy, director of sales at the firm. NeoNet expects to add four to five new positions at the Jersey City office, including technologists, traders and sales people to support the firm’s growth, says Treacy.

Ivy Schmerken, Wall Street & Technology

Days after announcing partnerships with Kestrel Technologies and Townsend Analytics (TAL) to provide access into NYSE Bonds, its new electronic fixed-income trading marketplace, NYSE Group received regulatory approval to vastly expands the number of debt securities it can trade through the revamped electronic fixed-income marketplace.

Ivy Schmerken, Wall Street & Technology

NYSE Group selected Kestrel Technologies and Townsend Analytics to provide market participants with access to NYSE Bonds, its redesigned electronic bond-trading platform that will trade corporate bonds issued by companies listed on the exchange.

The exchange is currently developing the all-electronic bond system to run on the NYSE Arca matching engine. In preparing for the launch in early 2007, it’s choosing multiple front-end platforms to provide the issuers, traders and investors with connectivity into the bond marketplace, pending SEC approval.

By Tim Clark, Wall Street & Technology

Northern Trust today announced that it has won the mandate to provide custody services to the $320 million Oslo Pensjonsforsikring’s (OPF) global fixed income portfolio, managed by investment manager Rogge Global Partners.

Ivy Schmerken, Wall Street & Technology

Algorithmic trading is soon coming to Korea. The Korean financial software IT vendor Koscom has picked the Progress Apama Algorithmic Trading Platform to facilitate algorithmic trading on the Korea Exchange (KRX). In addition, Progress and Koscom have entered into a strategy partnership whereby Koscom will develop a localized version of the Apama platform for distribution in Asia.

Ivy Schmerken, Wall Street & Technology

RBC Capital Markets’ proprietary trading desk has signed up for Wombat Financial Software’s market data platform to achieve low-latency market data distribution and integration.
RBC will deploy Wombat’s MAMA platform above TIBCO/Rendezvous (RV) messaging software, according to the release.

Fraud detection and multifactor authentication vendor Bharosa announced that Lancaster, Pa.-based Sterling Financial Corp. has signed on to use its solutions. Sterling chose the solutions to meet the year-end deadline for FFIEC recommendations.

By Tim Clark, Wall Street & Technology

Charles River Development, a provider of front- and middle-office systems to the global investment management community, recently announced the release of its new Web-based module, Charles River Anywhere. The new tool enables Charles River Investment Management System users to securely monitor and manage critical Charles River IMS information via any Web-enabled wired or wireless device.

By Tim Clark, Wall Street & Technology

SunGard and Advent Software recently announced the availability of STN for SWIFT to investment managers using Moxy, Advent’s trade order management system.

By Tim Clark, Wall Street & Technology

Trace Financial today announced that its Corporate Actions Management Systems solutions, CAMS and CAMS Connect, have successfully tested and taken in Reuters Datascope in order to include corporate actions data feeds.

Cory Levine, Wall Street & Technology

In a speech at the Securities Industry and Financial Markets Association (SIFMA) launch event in Boca Raton, Fla, yesterday, NYSE Group CEO John Thain hinted at the future convergence of industry regulators. According to a Forbes.com report, Thane indicated that the current regulatory environment is less than ideal, and that overregulation of domestic markets is hindering their global competitiveness. “If we are not careful, we will in fact make the U.S. less attractive to the rest of the world,” he said.

Ivy Schmerken, Wall Street & Technology

Eyeing the global market for institutional trading, Royalblue’sFidessa launched an execution management system (EMS) workstation for buy-side trading desks in Asia.

The EMS is a global, broker-neutral, multi-asset execution platform for buy-side trading desks in Asia, according to Wednesday's release.

Ivy Schmerken, Wall Street & Technology

NYSE Group will reduce its workforce by 520 positions as part of an organizational downsizing aimed at cutting costs and improving efficiencies, it announced on Wednesday.

The staff cuts impact approximately 400 employees and 120 full-time consultants from its New York Stock Exchange (NYSE), NYSE Arca and Securities Automation Corporation (SIAC) business units.

Ivy Schmerken, Wall Street & Technology

On Monday, eSpeed said that a recent court decision over the scope of Trading Technologies International’s (TT) patent infringement claims favors eSpeed and its Ecco subsidiary, and enables them to offer a variety of user interfaces to conduct futures transactions.

By Tim Clark, Wall Street & Technology

Enterprise data solutions provider GemStone Systems recently announced that it will deliver xFire distributed data management and virtualization solution on the IBM BladeCenter Platform .

Cory Levine, Wall Street & Technology

Telekurs Financial, the Zurich, Switzerland-based market data provider, has laid out its plans to update its reference and market data products for the post-MiFID world. Some of the data required by firms to apply client classifications and best execution policies is already available, some new data will be added, and Telekurs plans to build a new market data platform to support the directive.

By Tim Clark, Wall Street & Technology

In an effort to better manage the growth of its enterprise application performance levels, Deutsche Bank has selected the Optim solution from Princeton Softech. Optim allows organizations such as Deutsche Bank to apply a consistent enterprise data management strategy across applications, platforms and databases.

By Tim Clark, Wall Street & Technology

SunGard recently added unified managed account (UMA) capabilities to WealthStation, a wealth management technology solutions platform that helps financial advisors manage their high-net-worth clients’ assets.

Ivy Schmerken, Wall Street & Technology

Fidelity Capital Market Services, a unit of Fidelity Brokerage Company, has launched CrossStream, an alternative trading system (ATS) that anonymously matches brokerage clients’ buy- and sell-side orders against the diverse order flow of the agency brokerage house. The new ATS will not publish bids and offers before client’s orders hit the Street, according to yesterday’s announcement.

Ivy Schmerken, Wall Street & Technology

The American Stock Exchange (Amex) has selected Lava Trading to provide private linkage services for sending outbound orders to other market centers publishing protected quotes in compliance with the Securities and Exchange Commission's Regulation NMS.

The linkage service will be rolled out with the Amex’s new Auction and Electronic Market Integration (AEMI) platform, the exchange said.

Ivy Schmerken, Wall Street & Technology

Nomura Holdings, the Japanese financial services conglomerate, has agreed to acquire Instinet Inc., the global agency broker, in an all cash transaction, according to today’s announcement. The purchase price was not disclosed.

Cory Levine, Wall Street & Technology

The alternative investment industry is getting ahead of the regulatory curve by forming an association focused on addressing legislative compliance and regulatory developments — the Alternative Investments Compliance Association (AICA). The effort has been organized by service provider HedgeOp Compliance and was founded by representatives from more than 10 alternative investment firms with a combined $12 billion in assets under management.

By Tim Clark, Wall Street & Technology

In an effort to grow its business while streamlining its marketing, sales and client service processes, Harris Investment Management has tapped customer relationship management (CRM) services from Satuit.

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