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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

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


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.continued...
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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.continued...
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Post-crisis, Wall Street firms are paying closer attention than ever before to vendor risk when choosing their technology partners.
During its enterprise content management deployment, Eaton Vance discovered the devil was in the user-interface details.
FPGA-based computers minimize the latency of feed-handling algorithms.
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.
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.
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.
With the SEC under pressure to salvage its battered reputation, the regulator has been acting with new-found zeal to eliminate insider trading.
Asset manager saves money and improves the accuracy of data by pulling fund administration back in-house.
Billing and member communications are two of the functions for which the nascent exchange has turned to software as a service.
Print-on-demand capabilities help investment advisory firm eliminate manual document generation processes.
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.
Researchers and Wall Street firms are analyzing the avalanche of Internet content -- including news feeds, blogs and Twitter posts -- to help improve trading performance.
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.
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.
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.
As the operator of the Chicago Mercantile and other exchanges, CME Group's competitive advantage increasingly is built on technology innovation.
The fund industry's procrastination in implementing cost basis reporting systems may have a dramatic impact on investor satisfaction over the long-term.
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.
Still-tight budgets and small IT staffs will drive Wall Street firms' preference for renting software rather than buying it.
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.
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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 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.
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.
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 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.
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.
Wall Street & Technology editors examine the top 10 trends that will shape the capital markets in the coming year.
Independent consultant calls for more competition between securities and futures clearinghouses, allowing ATSs into futures and combining the CFTC and SEC into one agency.
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.
By focusing on in-house development capabilities and a culture of collaboration, Goldman Sachs has built outstanding risk management and algorithmic trading products.
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.
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.
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' 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 and CIO Steve Rubinow are focused on doing things faster, including communication, development and, of course, competing in the low-latency trading arena.
Online investing/social networking site TradeKing is tapping interactive community-building tools to breathe new life into the online brokerage space.
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.
Broker signs deal wtih Corvil to monitor market data plants and order execution traffic to gain visibility into inter-party latency.
Senator urges regulator to examine high frequency trading, colocation and dark pools, as well as direct market access.
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.
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.
Sites such as MarketRiders and FiLife come closer to providing the kind of financial advice typically doled out by financial advisers.
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.
In a punishing market for those who improperly handle risk, these tenets of credit risk management can be the difference between success and failure.
As investors change their habits, the large wirehouses face a host of new competitors in the wealth management field.
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.
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.
Much of the IT integration work still lies ahead in the closely watched acquisition.
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.
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.
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President Obama's proposed regulatory reforms would require hedge funds to register with the SEC and provide data on their market exposure.
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.
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.
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.
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.
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.
Three emerging technologies that will make Wall Street data centers more efficient in the coming year.
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.
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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 development platform Eclipse to integrate multiple fixed-income applications through a single user interface.
Independent technology consultant Neal Nelson offers guidelines for reducing data center power consumption by as much as 50 percent.
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.
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.
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.
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 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 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.
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SunGard Strengthens Wealth Management Functionality
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Electronic Trading Resource CenterAs 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. |
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WhitepapersRespond to financial market conditions and clients -- on demand: IBM software solutions for the financial markets industryThis 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. See All White Papers |
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