Wall Street & Technology

Issues Archive

Live Events:
Accelerating Wall Street 2010
May 11, 2010

Bank Systems & Technology Executive Summit 2010
October 3-6, 2010

Advanced Trading's Buy-Side Trading Summit 2010
October 17-19, 2010

Web Events:
Online Account Acquisition - What are the Drivers of Abandonment and Conversion?
March 30, 2010

WST

The End of Labor Arbitrage

June 23, 2007 | By Penny Crosman

The age of outsourcing to India for the cheaper labor costs is over, according to S. Premkumar, corporate officer and global head-financial services at Indian outsourcing firm HCL Technologies. Where once a function performed by 100 U.S. employees could be handed over to 100 Indian employees who could do it for significantly less, the diminishing value of the dollar combined with the strengthening of the rupee and increasing salary levels in India have wiped out the benefits of such labor arbitrage, he points out. Captives, too, have lost their luster, Premkumar says - they don't grow well because they're too focused on cutting costs and they're not good at sharing people and resources.

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NYSE Euronext Develops Dark Pool for Crossing Portfolios

June 12, 2007 | By Ivy Schmerken

With dark pools gaining traction among institutions seeking leak-proof matches, one of the worldis largest liquidity pools is venturing into the crossing network space. By the end of this summer, NYSE Euronext is expected to launch NYSE MatchPoint n a point-in-time benchmark crossing-network geared to large index funds and mutual funds looking to matching portfolios of stocks.

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Post-Crisis, Banks Paying Close Attention to Vendor Risk When Choosing Tech Partners March 09, 2010
Post-crisis, Wall Street firms are paying closer attention than ever before to vendor risk when choosing their technology partners.

Eaton Vance Overcomes Document Management's User-Interface Shortcomings March 08, 2010
During its enterprise content management deployment, Eaton Vance discovered the devil was in the user-interface details.

Configurable 'Ticker Processors' Accelerate Automated Trading February 24, 2010
FPGA-based computers minimize the latency of feed-handling algorithms.

Wall Street Firms, Hedge Funds, Recruit CIA, Ex-Military Intelligence February 08, 2010
Wall Street firms and hedge funds are actively recruiting former CIA and military intelligence officers in a bid to boost their security and risk management practices.

Why the Industry Is Changing Options Symbology February 01, 2010
The options industry has outgrown five-character options symbols and is converting to a more-descriptive format that will help investors understand the instruments they are trading.

Options Symbology Deadline Looms February 01, 2010
Brokers, exchanges, clearing firms and vendors are working to complete an exhaustive conversion process and phase in new options symbology before the February 12 deadline.

Insider Trading: Can It Be Stopped? January 29, 2010
With the SEC under pressure to salvage its battered reputation, the regulator has been acting with new-found zeal to eliminate insider trading.

Transamerica Finds Back-Office Efficiency, Accuracy Through Insourcing January 25, 2010
Asset manager saves money and improves the accuracy of data by pulling fund administration back in-house.

Futures Exchange ELX Blends Hosted and Homegrown Ops Platforms January 25, 2010
Billing and member communications are two of the functions for which the nascent exchange has turned to software as a service.

Document Automation Helps Diversified Investment Advisors Decrease Ops Budget by $1.3 Million January 25, 2010
Print-on-demand capabilities help investment advisory firm eliminate manual document generation processes.

10 Trends That Are Reshaping the Wall Street Back Office January 25, 2010
With new regulations on the way and calls for greater scrutiny and transparency into how financial instruments are priced and cleared, the importance of a strong back office is destined to receive a lift this year. Here are 10 developments that are reshaping Wall Street's operations departments and the technology they use.

The Search for Alpha: Analyzing Unstructured Data January 21, 2010
Researchers and Wall Street firms are analyzing the avalanche of Internet content -- including news feeds, blogs and Twitter posts -- to help improve trading performance.

Alpha Capture Systems Measure the Value of Sell-Side Trade Ideas January 13, 2010
To drum up commissions, sell-side sales professionals increasingly are communicating trade ideas to buy-side clients via alpha capture systems such as youDevise's Trade Information Monitor, which provide performance metrics around the trade ideas.

Exclusive: 2010 IT Spending to Rise 6%, CIOs Cautiously Optimistic January 08, 2010
Capital markets firms will spend almost $42 billon on technology globally in 2010, up from an expected $39.7 billion in 2009 and $41.8 billion in 2008, according to a soon-to-be-released study from Aite Group.

Evaluating Outsourcing Options December 28, 2009
The technology and capabilities of outsourced portfolio management systems offer functionality that is comparable to their installed counterparts. But not all outsourced solutions are created equal.

CME Group Thrives on Technology Innovation December 07, 2009
As the operator of the Chicago Mercantile and other exchanges, CME Group's competitive advantage increasingly is built on technology innovation.

Mutual Funds and Cost Basis Compliance: Plan Now to be Prepared in 2012 December 07, 2009
The fund industry's procrastination in implementing cost basis reporting systems may have a dramatic impact on investor satisfaction over the long-term.

Industry Aims to Secure Cloud December 02, 2009
The obstacle to large financial firms' use of public clouds has been security, but industry groups and vendors are working to fix this. And internal clouds, protected within a firm's own firewalls, are under construction.

Capital Markets to Broaden Use of Hosted Software in 2010 November 30, 2009
Still-tight budgets and small IT staffs will drive Wall Street firms' preference for renting software rather than buying it.

New Regulatory Requirements Require Data On-Demand November 23, 2009
With a plethora of proposed regulations in the pipeline, financial services firms are facing more strenuous audits and data reporting requirements that could result in penalties if firms get them wrong.

Investors Demand Hedge Fund Transparency November 23, 2009
Institutional investors are already demanding more transparency from hedge funds. Not to be outdone, regulators are readying new rules for hedge fund reporting.

Derivatives Clearing Gives Congress Fits November 23, 2009
The Challenge Congress is working on legislation for OTC derivatives reform, but there is still no agreement on mandatory clearing of standardized instruments or on how exotic instruments will be handled.

Social Networking Is Here to Stay November 23, 2009
Social networking is changing the way consumers, investors and traders interact and share information. But all companies are struggling to show how the technology is actually adding to the bottom line.

No Country for Old Risk Models November 23, 2009
Congress and taxpayers agree on one thing: Financial firms cannot continue to make large, risky bets and expect a government bailout. Survival in 2010 will hinge on more-effective risk management processes and technology.

Data Projects to Pave the Way for Business Intelligence November 23, 2009
Business intelligence tools can deliver decision-making insight to areas on Wall Street that sorely need it, such as portfolio and risk management. The catch? Data has to be clean, accurate and organized (if not integrated), which means shelved enterprise data management projects may get resurrected.

Dark Pools Seek Limited Transparency November 23, 2009
Dark pools provide institutional investors with a valuable venue for trading large blocks of securities. But new regulations may change the way market participants interact with anonymous trading venues in 2010.

High-Frequency Trading Controversy Continues to Swirl November 23, 2009
Regulators are scrutinizing the surge in high-frequency trading strategies, which account for more than 60 percent of equities executions by some estimates. Charges of unfair access likely will continue to drive the HFT controversy in 2010.

WS&T Presents the Capital Markets Outlook 2010 November 23, 2009
Wall Street & Technology editors examine the top 10 trends that will shape the capital markets in the coming year.

OTC Derivatives Reform Doesn't Go Far Enough November 18, 2009
Independent consultant calls for more competition between securities and futures clearinghouses, allowing ATSs into futures and combining the CFTC and SEC into one agency.

Dynamics of Technology Economy Are Key to Mastering Balance of Expense and Value November 16, 2009
Companies that take charge of their internal technology economy microclimates today by balancing quantitative and qualitative analysis will be in the best position to leverage technology for extreme competitive advantage.

Goldman Sachs Sets Gold Standard for IT Innovation October 27, 2009
By focusing on in-house development capabilities and a culture of collaboration, Goldman Sachs has built outstanding risk management and algorithmic trading products.

WS&T's 2009 Gold Book: Wall Street's Top Technology Leaders Drive Innovation in Tough Times October 19, 2009
Managing IT during a bull market is relatively easy. Managing a technology organization during a financial crisis is a different story. WS&T recognizes seven IT leaders who have driven exceptional technology innovation during the past year.

Morgan Stanley Aims for the Clouds October 19, 2009
David Reilly, CIO of Enterprise Infrastructure, heads Morgan Stanley's industry-leading cloud and virtualization initiatives. He's not afraid to rely on vendors for substantial chunks of these and other projects.

Fidelity Investments' Unwavering Commitment to the Mobile Channel October 19, 2009
Early on, Fidelity recognized the value of providing customers with a complete mobile offering, and chief wireless officer Joseph Ferra is committed to creating the best user experience possible.

Allianz Global Investors' Small Application-Support Team Provides Big Results October 19, 2009
Allianz Global Investors' three investment management companies will soon run on a single platform maintained by a tiny 33-person IT team that is managed by Steve Rapp, managing director and CTO.

NYSE Euronext Innovates at Warp Speed October 19, 2009
NYSE Euronext and CIO Steve Rubinow are focused on doing things faster, including communication, development and, of course, competing in the low-latency trading arena.

TradeKing Embraces Social Networks October 19, 2009
Online investing/social networking site TradeKing is tapping interactive community-building tools to breathe new life into the online brokerage space.

BlackRock's Analytics Pay Off in More Ways Than One October 18, 2009
BlackRock's analytics and pricing models are so well respected that the firm made a business of them. Now the federal government is one of its top customers.

Morgan Stanley Seeks Transparency Into Inter-Party Latency With Exchanges and MTFs October 12, 2009
Broker signs deal wtih Corvil to monitor market data plants and order execution traffic to gain visibility into inter-party latency.

Kaufman Praises SEC Proposed Ban On Flash Orders, But Seeks Broad Review September 24, 2009
Senator urges regulator to examine high frequency trading, colocation and dark pools, as well as direct market access.

Central Clearing of Derivatives Could Help Prevent "Too Bigger to Fail" September 16, 2009
WS&T Editor-at-Large Ivy Schmerken spoke with Chris Edmonds, CEO of the International Derivatives Clearing Group, about the value of central clearing in the interest rate derivatives markets.

Amidst the Gloom: Driving IT Infrastructure Innovation September 16, 2009
With growth projects on hold, J.P. Morgan CIO Guy Chiarello says, now is the time to invest in infrastructure, clean up IT operations and drive hard bargains with vendors.

The New Online Wealth Management Competitors September 14, 2009
Sites such as MarketRiders and FiLife come closer to providing the kind of financial advice typically doled out by financial advisers.

Wall Street Strikes Back September 11, 2009
Brokerage firms such as Merrill Lynch, RBC and Fiduciary Trust are confidently investing in technology and tools to attract and retain high-performing advisers and wealthy clients.

The Five Cs of Counterparty Credit Risk September 06, 2009
In a punishing market for those who improperly handle risk, these tenets of credit risk management can be the difference between success and failure.

The New Wealth Management Landscape September 04, 2009
As investors change their habits, the large wirehouses face a host of new competitors in the wealth management field.

Forex Trading Provider Gain Capital Overhauls IT September 01, 2009
Gain Capital has had to buy new networks, servers and software -- for the best of reasons: to accommodate a 50 to 60 percent increases in trade volume and spikes in the currency markets.

Investment Adviser ProfitScore Capital Management Promises Hedge Fund-Like Returns In a Separate Account August 28, 2009
In an innovative approach, the investment adviser uses actively traded mutual funds to go long and short from inside a separate account to generate hedge fund-like returns.

Wells Fargo Tech Exec Discusses Wachovia Integration August 13, 2009
Much of the IT integration work still lies ahead in the closely watched acquisition.

Deutsche Bank Securities Invests in Compliance Tools to Prepare for Fiduciary Standard August 09, 2009
Obama regulatory overhaul could give brokers the same fiduciary standard as investment advisers, and firms such as Deutsche Bank Securities are bracing for the challenge.

Inside the Obama Administration’s Road Map for Financial Regulatory Reform August 06, 2009
The Obama plan would turn the Fed into a systemic risk regulator, push derivatives onto electronic platforms and force hedge funds to register with the SEC.

BofA’s Birnbaum Urges Wall Street to "Think Parallel" July 23, 2009
Bank of America IT executive Jeffrey M. Birnbaum has been teaching high school students parallel programming. In his view, Wall Street should be thinking parallel, too.

Is Carbon Trading the Next Big Thing? July 19, 2009
The U.S. carbon credit trading business could take off if recent climate change legislation becomes law. Environmental market players including Citi, the CME, the Chicago Climate Exchange and BlueNext are poised to capitalize on the surge.

Obama Plan Would Require Hedge Funds to Register With the SEC and Report on Exposures July 15, 2009
President Obama's proposed regulatory reforms would require hedge funds to register with the SEC and provide data on their market exposure.

Compliance With Tomorrow’s New Regulations Starts With Data Management Today July 13, 2009
Even though the Obama administration's plan for financial regulatory reform lacks specifics, firms should prepare for compliance by developing a sound data management strategy.

Citi Makes Global Electronic Trading Push July 10, 2009
Now that it has knit the Lava, ATD and Options Market Maker platforms together with its dark pool, Citi is taking its electronic trading platform to Europe, Asia and beyond.

Managing Under Duress: Q&A With Credit Suisse CIO Karl Landert July 09, 2009
Credit Suisse CIO Karl Landert points to a long-standing focus on efficiency and an agile technology organization as major reasons why the firm has fared relatively well during the economic downturn.

Wall Street Adjusts to Transparency Demands July 07, 2009
Calls for transparency from regulators, investors and even financial firms aren't about to subside anytime soon. Technology -- and education -- are key to helping Wall Street respond.

CME Group Picks StreamBase’s CEP Platform for Options Pricing June 23, 2009
Derivatives exchange initially will tap the complex event processing platform to develop models for settlement pricing of options on futures with plans to expand CEP's use into risk management and compliance.

Emerging Technologies That Will Change the Data Center June 22, 2009
Three emerging technologies that will make Wall Street data centers more efficient in the coming year.

The Urgency and High Price of New Cost Basis Reporting Law June 22, 2009
Even while many firms are unaware of new cost basis reporting requirements, the deadline for compliance is fast approaching -- and the cost to comply won't be cheap.

’Kill the Comatose Servers,’ Says IT Guru Ken Brill June 19, 2009
Kenneth Brill, technology industry icon and executive director of the Uptime Institute, offers his secrets to an efficient data center in this exclusive Q&A.

Energy Stars: Wall Street Firms’ Sustainable IT Efforts June 17, 2009
Strained budgets combined with advances in virtualization technology and energy-efficient equipment are driving Wall Street firms' efforts to make their data centers and broader IT infrastructures more sustainable.

RBC Capital Markets Taps Open Source Platform for Fixed Income Applications June 17, 2009
RBC Capital Markets taps open source development platform Eclipse to integrate multiple fixed-income applications through a single user interface.

5 Tips to Achieving an Energy-Efficient Data Center June 16, 2009
Independent technology consultant Neal Nelson offers guidelines for reducing data center power consumption by as much as 50 percent.

Wall Street Firms Form Enterprise Clouds June 16, 2009
A number of Wall Street firms -- including Citi, Merrill and AQR Capital -- are adopting cloud computing concepts internally to ease IT management and save money.

7 Tips for Doing Business in China June 10, 2009
Those doing business in China must remember that the country is steeped in strict cultural and social traditions, so we've compiled some tips on what you really need to know to succeed.

|13209|13215|13244|13303|13221|13277|13459 June 09, 2009
The Chinese mutual fund industry is currently 1/10th of the size of the U.S. industry, but is growing fast. Here are 20 of the top Chinese fund management companies, which also include joint ventures with some big Western banks.

Primary Technology Vendors in China June 09, 2009
Many vendors are already at work providing services in China. Here are some of the key Chinese financial technology vendors, as well as a short list of some of the Western technology providers with operations in China.

China’s Mutual Fund Industry Goes International June 09, 2009
China is opening its notoriously closed mutual fund industry to international investing, injecting more than 1 billion potential investors into the global markets. Meanwhile Western fund managers and technology providers hope to provide much-needed expertise to Chinese investment firms.

Citi’s Green Data Centers Provide Environmental and Business Benefits May 20, 2009
Citi has completed three LEED-certified energy-efficient data centers and is sticking to its $50 billion commitment to environmental efforts, which it says make good business sense.

More Features Archive

Greg MacSweeny Column

Fidessa Expands Buy-Side EMS into Asia

Harvey Pitt: SEC Looking, Not Acting on Dark Pool Explosion

eSpeed Sees Court Decision as Win in TT Patent Case

NYSE Euronext Unveils NYSE TransactTools As Global Backbone for Accessing Liquidity Worldwide

JPMorgan Losing Data and Making Headlines

Cuomo Wins Big on Data Privacy

Larry Tabb Column

Deutsche Bank Uses Princeton Softech to Monitor Application Performance

GemStone Bolsters IBM Platform With Virtualization Solution

SunGard Strengthens Wealth Management Functionality

Today's Money Managers Are Leveraging Funds Into Alternative Investment Products

Electronic Trading Resource Center

As markets move faster and trading in all types of investment classes continues to migrate to electronic trading, the technology that supports trading strategies is evolving at a rapid pace. Reducing latency and building systems that can match orders in hundredths of a second will be required if firms want to continue to compete in many markets.

Events

July 25, 2007 Live Event headline

August 28, 2007 Another Web Event Title

August 29, 2007 Third Web Event Title blah balha blah

August 30, 2007 Fouth live event title tata

August 36, 2006 Fifth web event title

Whitepapers

Respond to financial market conditions and clients -- on demand: IBM software solutions for the financial markets industry
This solution sheet addresses the challenges & opportunities that exist today for midsized financial services/markets firms by explaining how these firms can achieve end-to-end business integration with industry-leading solutions from IBM and IBM Business Partners.

MiFID - How to Deal With Four Critical Reference Data Issues
As a result of emerging regulatory framework, the extensive changes surrounding the way data is gathered, managed, shared and retained will have significant impact for both buy side and sell side firms. This paper sheds light on some of the data issues stirred up by the MiFID revolution and suggests four pragmatic ways of addressing those needs.

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Market Place

Unexpected Surge in Trading Volumes and Volatility Raises Infrastructure Concerns for Hedge Funds

Experts Share Basic Ways To Reduce Power Consumption In Data Centers

These Servers Are Really Cool

Don't Panic, but the Grid's Going Down

What's a Green Data Center?

Wells Fargo Taps Web 2.0