July 2009
SPECIAL REPORT: SUSTAINABLE IT Jim Carney, Senior Executive, Technology Infrastructure Group, Citi Energy Stars: Wall Street Firms' Sustainable IT Efforts Strained budgets combined with advances in virtualization technology and energy-efficient equipment are driving the efforts of Wall Street firms -- such as BNY Mellon, Citi, Northern Trust and Buttonwood Trading Group -- to make their data centers and broader IT infrastructures more sustainable. Citi's Green Data Centers Provide Environmental and Business Benefits 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. 'Kill the Comatose Servers,' Says IT Guru Ken Brill Kenneth Brill, technology industry icon and executive director of the Uptime Institute, offers his secrets to running an energy-efficient data center. Emerging Technologies That Will Change the Data Center Three emerging technologies bound to make Wall Street data centers more efficient in the coming year. Wall Street Firms Form Enterprise Clouds 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. REGULATIONWall Street Adjusts to TransparencyCalls 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. TRADINGRBC Capital Markets Taps Open Source Platform for Fixed Income ApplicationsInvetsment bank RBC Capital Markets leverages open source development platform Eclipse to integrate multiple fixed income applications through a single user interface. PERSPECTIVESThe Odds of Exchange MigrationThough it may seem like a quick fix, migrating OTC products to exchanges is a process fraught with dangers and problems all its own. |
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FROM THE EDITORSpending on the Horizon as the End NearsTechnology, research, and other expenses that were delayed during the worst of the crisis can only be put off so long, so as the economy makes gradual improvements, so should spending figures. COMPLIANCEThe Urgency and High Price of New Cost Basis Reporting LawEven while many firms are unaware of new cost basis reporting requirements, the deadline for compliance is fast approaching -- and the cost to comply wonÕt be cheap. UPFRONTWall Street IT Budgets Are Fatter Than You Think, Aite SaysReports of budget hemorrhaging are overblown; money is still being spent this year on OMS, EMS, risk and compliance technology, analyst Adam Honore says. China Wealth Management Market Has Huge Potential The market is expected to reach US$700 billion in 2014, almost doubling what it was in 2007, according to a new report from Celent. Lightspeed Financial Integrates Trading Platform With Wedbush's Clearing Capabilities New model will allow Lightspeed to serve growing market of new small, prop trading firms. Neonet to Monitor Latency Across Euro Markets Global agency brokerage to use Corvil's monitoring system to accelerate its algorithmic trading and smart order routing services. Breakaway Brokers Taking Client Assets With Them Not surprisingly, financial advisers say they are leaving brokerage and captive firms out of discontent and two-thirds are taking huge hunks of business with them, an Aite survey finds. INDUSTRY VOICEWikis and Wall Street: A Perfect Match?The key to leveraging wikis on Wall Street is picking and choosing the business problems that wikis are well-suited to solve, and which skirt around the security and compliance issues that have hampered previous SaaS deployments. PRODUCT WATCHUAT Launches Trading Oversight System For Investment IndustryTechnology provides pre-trade compliance, real-time reporting, and lower brokerage costs for sub-advised platforms, says UAT. HedgeOp Launches Compliance Platform For RIAs New web-based software application helps investment advisers meet adviser act requirements. youDevise Introduces New Version of Forex Exposure Module for Funds of Hedge Funds The solution aims to reduce the negative effects of volatile currency fluctuations that have been plaguing the funds of hedge funds. |