November 2008

COVER STORY

Jim Allen, CEO, Hilliard Lyons
Jim Allen, CEO, Hilliard Lyons


UMAs Continue to Grow in Turbulent Financial Markets
Amid the worst market turmoil in a generation, high-net-worth investors are increasingly entrusting their long-term wealth to unified management accounts. Fueled by the accounts' asset diversity and rebalancing agility, UMA assets under management have grown to $127 billion and may reach $355 billion in the next five years.

SPECIAL REPORT

Wall Street Firms Using CEP to Measure and Manage Risk
New complex event processing applications promise to help firms get a better handle on their risk exposure, but can CEP erase Wall Street's risk management woes?

TRADING

New Web Site Consolidates Real-Time Market Data Peaks Across U.S. Equities and Options Venues
Market data professionals doing capacity planning may soon have a real-time benchmark for tracking peaks in message rates.

INVESTMENT MANAGEMENT

Fidelity Blurs the Line Between Desktop and Mobile Apps
Fidelity's latest improvements to its mobile applications for customers include intuitive navigations, and a look and feel closer to that of Fidelity.com.

INDUSTRY VOICE

Is This Crisis Different? Not Really
Despite popular sentiment that the financial meltdown of 2007-08 is unique in history, we can glean lessons from earlier crises to make a better, more stable financial system, says John Chen, CEO of Sybase.

PERSPECTIVES

The Dawn of a New Investment Banking Model
Rising from the ashes of the bulge-bracket investment banking model, a new breed of partner-driven merchant-investment bank is on the horizon, predicts Larry Tabb, special contributing editor.

FROM THE EDITOR

Deconstructing "Too Big to Fail"
With increased regulation an almost foregone conclusion, the financial services industry will have to work to regain trust and credibility.

UP FRONT

New Celent Report on Cost Management Released
The current crisis will necessitate painful cost cutting and restructuring, according to the financial research and consulting firm.

Global Survey Results on the Transparency and Independence of Derivative Valuations Revealed
Independent derivative valuation current practices, trends, challenges, and recommendations released in report by OTC Val and PRMIA.

As Crisis Escalated, Firms Failed to Communicate With Worried Investors
When the financial crisis escalated with the fall of Lehman Brothers, the AIG bailout and the sale of Merrill Lynch in September, firms failed their client base, according to a report.

Wall Street Meltdown Making Buy-Side Firms Really Rethink Sell-Side Relationships
Investment management firms to start saying no to derivatives.

Aite Group Releases New Report
The adoption of electronic fixed-income trading continues to rise, and electronic trading platforms are playing an increasingly vital role in today's uncertain market.

PRODUCT WATCH

Onset Technology Launches SmartPhone Compliance Tool
Employing a lexicon-based system, METAmessage ACT monitors words, patterns and strings for sensitive content transmitted via wireless email, SMS, personal BlackBerry mail, BlackBerry PIN-to-PIN and instant messaging.

Tervela Offers New Integrated Options Solution
The program can be customized to meet immediate market data distribution, options market making, automated trading and colocation requirements while laying a scalable foundation for the future, says Tervela.

Gigaspaces and Gogrid Launch Enterprise-grade Cloud Computing Solution
Joint offering enables Java, .Net and C++ applications to scale on demand.

SHIFTING GEARS

HSBC Creates Technology and Services Position
HSBC taps Ken Harvey to integrate technology and operations to drive transformation of customer experience and efficiency.

Kellner Replaces Plunkett as President of Instinet
Plunkett leaves to pursue other personal and business interests.

BNY ConvergEx Group Appoints Thomas Carroll as New Chief
Carroll will have global responsibility for the technical infrastructure, software development and business processes of ConvergEx.

KEEPING TABS