October 2008
SPECIAL REPORT:
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FROM THE EDITORA "Slowdown in the Decision Making Process" for Tech SpendingThe continuing effects of ongoing economic turmoil have begun to drastically change the way Wall Street firms are going about their business. PERSPECTIVESIf Standards Aren't Established, Competition Will Decide a Pan-European Clearing SolutionCompetition among pan-European trading platforms has highlighted the need for a clearing and settlement solution, but without movement from interested parties, the solution that arrives might not be the most elegant. UP FRONTTowerGroup Warns That Without Innovation, Fee Revenue Processing Costs Will SkyrocketIf firms fail to innovate their methods to process fee revenue for managed accounts, their costs could jump from the current $20.6 million to $42.4 million by 2012, according to a new report by TowerGroup. Urgent Need for Infrastructure Standardization for Unified Managed Accounts UMA assets under management have grown to $127 billion, and investor managers and sponsor firms are projecting an increase to $355 billion in the next five years, according to a new report by Dover Financial Research. Outsourcing Provides New Opportunities for Trust Industry To increase profitability and improve the client value proposition of the trust departments, banks can turn to operations outsourcing and investment management outsourcing, according to a new report by Celent. Asset Managers Can Optimize Profitability With Smarter Client Segmentation Firms should use smarter segmentation techniques, and use existing data in a more creative, resourceful way, according to a new report by kasina. TABB Group Forecasts Monthly Novation of Credit Default Swaps (CDS) TABB Group says trades to exceed $45.2 trillion by 2010 and novation rate growing at 88% CAGR. Major sell-side dealers to spend nearly $170 million in 2010 automating the affirmation process. PRODUCT WATCHCorvil Unveils Newest Latency MonitorProduct designed to meet analytical requirements of high-frequency electronic trading. Linedata Services Enhances Reporting Package Package will be available for both LongView Trading Order Management System and Linedata Compliance. VeriSign Unveils Real-Time Protection Against "Pump and Dump" Fraud The VeriSign Identity Protection (VIP) Fraud Detection Service Stock Trading Module protects traders at the transaction level, by tracking behavior specific to stock trading scams. SHIFTING GEARSFormer Lehman EVP Jon Beyman Joins Citi's Institutional Clients GroupBeyman becomes managing director of Citi's ICG, and will be responsible for global operations and technology. Former Eagle Investment Systems Exec Scott Hillyer Joins Omgeo as Managing Director Hillyer brings over 21 years of expertise to Omgeo's leadership team. Karl D. Cooper Becomes New CRO of NYSE LIFFE NYSE Euronext futures exchange taps Barclays Capital's former global head of prime services compliance for regulatory role. KEEPING TABSKeeping Tabs: Industry Moves and AppointmentsLondon Stock Exchange appoints Self; BIDS names Maese; De Mare joins Merrill; CLS Bank taps Rutherford; O'Toole promoted. |
