April 2008

COVER STORY:

Getting That Single Version of the Truth on Wall Street

Getting That Single Version of the Truth on Wall Street
Massive data management projects are under way at State Street Global Advisors, TIAA-CREF, Raymond James and Oppenheimer.

Sidebars
Raymond James Creates Complete View of Customer Data

Exchanges Hardest Hit by Trade Data Avalanche

EXCLUSIVE RESEARCH REPORT:

Credit Crisis Places IT Budgets in Question (Again)
The subprime mortgage mess and credit crunch are impacting financial firms' IT budgets in different ways. But if the multibillion dollar write-downs continue, one thing is for sure: technology budgets will be in flux for the remainder of the year.

TRADING:

InterContinental Exchange Acquires Yellow Jacket Software to Expand its Electronic Trading of OTC Derivatives
Exchanges are moving into OTC derivatives as these instruments become more standardized and can trade on exchange-like electronic platforms.

BUSINESS LINES:

INVESTMENT MANAGEMENT
Dark Pools Change Transition Management
Transition managers increasingly are tapping dark pools to trade large blocks while avoiding information leakage.

OPERATIONS:
Markit's Moving Fast Into Derivatives Processing
London-based data provider Markit has bought Communicator, Swapswire and BOAT. What's next for the fast-moving derivatives player?

INDUSTRY VOICE:

The OMS Dilemma: Speed vs. Intelligence
While the drive on Wall Street has been for pure speed, firms are struggling with balancing speed versus intelligence in their OMSs.

PERSPECTIVES:

NYSE TransactTools May Be NYSE Euronext's Most Important Asset
NYSE TransactTools, a FIX-engine provider, could be the ticket to the NYSE's survival.

SHIFTING GEARS:

Rosenblatt Hires Kannan as CTO
Kannan says sourcing liquidity as new venues are launched and making them available to clients keeps Rosenblatt motivated.

NYFIX Hires BSE's Richardson
Richardson, who is currently EVP at the BSE, will join NYFIX when Nasdaq's acquisition of the BSE is completed.

Turquoise Hires Former LSE Compliance Manager Werner
Werner says Turquoise wants to set standards in terms of quality of technology and client service, as well as setting the bar for best practices in compliance, surveillance and adherence to regulatory guidance.

Keeping Tabs

FROM THE EDITOR:
What You Don't Know Will Hurt You
Each day investors wake up to more bad news in the financial markets. Worse yet, many thought their assets were safe, only to find out that the financial crisis is hurting even low-risk investments.

UP FRONT:

Lack of Standardization in Data, Reporting to Hinder Basel II Compliance
Nearly half of the more than 100 financial services and compliance professionals who participated in an FRSGlobal survey indicate standardization of their business reporting processes is insufficient.

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 channels, such as phone lines, to steal the trusting public's personal information, few financial institutions have implemented multifactor authentication for telephone banking.

Identity and Access Management Market to Reach $12.3 billion in 2014
Forrester predicts that the largest area of growth will be in user account provisioning technologies, which is expected to be a $7.9 billion market in 2014.

Excel Still Fastest and Most Flexible Trade Capture System
Traders are sticking to Excel because it empowers them to create new structure products without relying on the support of the IT organization, says TABB Group.

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.

SIFMA Survey Shows Electronic Trading Extremely Popular in Europe
Greater efficiency and reduced costs drive growth of e-trading among European hedge funds and asset managers.

Finding Qualified Tech Professionals Is Difficult
New survey finds that in areas like Web development, database management, wireless networking and applications engineering, qualified professionals are in short supply.

PRODUCT WATCH:

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

Reuters Delivers New Derivatives Pricing Service
The new offering is part of Reuters' overall strategy to speed up the valuation process for complex instruments.

SunGard Targets Alternative Investment Firms
The new release adds equalization credit/contingent redemption functionality as well as support for unitized funds.