Buy-side firm says Bye-Bye
Transamerica Investment Management opts to replace current technology systems with enterprise solution.
Lifting Markets Don't Sway Short-Term E-Broker Enhancement Plans
The ongoing equity markets rally, accompanied by the long-awaited return of retail investors, might lead you to believe that discount brokers are readying waves of new creature features and services to inextricably lock self-directed investors into the low-cost Internet channel.
ELECTRONIC TRADING BRIEFS
Shareholders of Nasdaq Europe votes to close Nasdaq Europe; Former straight-through-processing executive at Reuters emerges at Deutsche Bourse; FlexTrade Systems unveils suite of browser-based tools.
MARKET DATA BRIEFS
Reuters and Cantor Market Data join forces; Bear Stearns' daily fixed-income-pricing data now distributed by Moneyline Telerate; Market News International launches an electronic-mail-notification service.
RISK MANAGEMENT BRIEFS
SEB Asset Management goes live with Trema Finance KIT; Reuters to disseminate GFI Group's credit-default-swap data and Fenics Credit pricing tools; SunGard Trading and Risk Systems releases new version of asset and liability management software.
INVESTMENT TECHNOLOGY BRIEFS
Alexandra Investment Management announces it will implement Sophis' Value; Butterfield Fund Managers Limited selects Global Investment Systems; Eze Castle Software teams up with FutureTrade Technologies.
City Networks working with the Automated Confirmation Service (ACS); Princeton Financial Systems introduces PAM InfoStream; The Depository Trust & Clearing Corporation announces launch of expanded and enhanced communications network.
Welcome to the State of Linux: Population Rising
Though Linux has achieved significant adoption in the world of computing, and offers the ability to exert greater price pressure on hardware vendors, vertically aligned financial-services-technology providers have yet to port to the new platform en masse, says Dushyant Shahrawat, senior analyst with TowerGroup.
New Risk Vendors Bet Big on SIA Tech Show
Financial institutions aren't the only ones managing their risk when it comes to market activity. Nascent risk-management vendors are also hedging their bets at this year's SIA Technology Management Conference & Exhibit by seeking out new clients.
Asset Control Expands Its Suite
Asset Control (booth #3127), a Netherlands-based provider of investment-data-integration solutions, will be demonstrating its newest AC Business Suite applications on a live feed from its ACDEX outsourced data-management service.
Avocent Rolls Out Larger Flat Panels, Blade Product
When Don Davidson, president of Avocent Digital Desktops (booth #3500), takes a booth at the SIA show, he does so because at any time, "The CIO of Goldman or another large financial institution will walk the floor," he says.
SunGard Rocks With Direct Access To BRASS
With competition heating up in the direct-access space, SunGard Trading Systems/BRASS (booth #s 2411 and 2609) is unveiling a new front-end interface called U2 from which broker/dealers and buy-side institutions can launch smart-order routing to multiple trading destinations.
SEC Filings for Sale
Edgar Online (booth #1839), a Connecticut-based vendor specializing in communicating public-company information contained in Securities and Exchange Commission filings, has released a new solution for financial-services firms.
Sky's the Limit With STARS
The derivatives market is expanding rapidly and so is the need for comprehensive trading and risk systems.
The Worm Has Turned
Financial institutions are struggling to comply with the SEC Rule 17a-4 requirements, which defines how information must be stored electronically in a non-erasable format, also known as Write Once Read Many (WORM) technology.
While many vendors in the securities industry are breaking down their solutions to offer separate components, Thomson Financial (booth # 3200) is taking the opposite approach.
New Alliance May Expand Your Options
Tackling the options-trading markets, EGAR Technology, a New York-based financial-technology-systems provider, and HyperFeed (booth #1427), a managed-exchange platform-services provider, will announce their new strategic partnership.
The Power of Partnerships
We've decided to take some of our own advice. Time and time again, we've talked to you about the importance of integrating technology and processes among synergistic departments.
IT Spending to Decline, Again
For the first time in history, IT spending in the U.S. Securities Industry is expected to decline over a two-year clip, according to a report by Celent Communications, a Boston-based research firm.
Consolidation of Corporate-Action Vendors?
Only 18 percent of international securities firms are expected to purchase corporate-actions technology within six months, according to a recent survey jointly commissioned by SmartStream and SWIFT, and conducted by CityIQ.
More large companies are turning to service providers to handle their security.
Beyond Compliance, Toward Innovation
This year's Securities Industry
Association's Technology Management Conference & Exhibit, themed "IT Matters," could have as easily been called "Nobody Wants to Go to Jail."
IT Spending Wanes as Security Industry Mends
Like a patient who has undergone a heart transplant and needs to recover before resuming full activity, the securities industry is still suffering from the corporate scandals and excesses of the Internet bubble.
Execs Attend Tech Show with Disparate Goals
Attendees at the SIA Technology Management Conference & Exhibit wear badges that display practically every color of the rainbow. Yet, no matter what the hue of the nametag, one theme was echoed through many mouths: "Do more with less."
Straight from the Reader’s Mouth
When WS&T wanted to take the pulse of the industry, we couldn't think of anyone better to speak with than our very own Reader Advisory Board members.
Firms Seek IT-Structure Holy Grail
In a decade of change, featuring everything from expansive growth and shifting technologies to tough competition, mergers, layoffs and belt tightening, one thing has remained constant: chief information officers continually restructure their departments in search of the perfect model by which to govern operations.
Merrill Lynch Brings Mainframe to Web With X4ML
In an effort to reduce development costs when opening up back-office, mainframe-hosted programs to requests by Internet-based applications, Merrill Lynch has developed XML for Merrill Lynch (X4ML).
The Market Makers' Makeover
Decimal pricing and razor-thin profit margins are pushing wholesale market makers to overhaul their trading operations.
Search For the Single Right Answer
Looking to solve one of the most frustrating issues in the securities industry, the DTCC is entering into the corporate-actions-processing fray.
Managing hundreds of desktop computers is no easy task. Firms can't afford to have their traders and brokers down while IT staff rummage around desks replacing broken units. Now, there's an alternative to decentralized-workstation computing.
A Conversation with Northern Trust’s Tim Theriault
WS&T Managing Editor Anthony Guerra recently sat down with Tim Theriault to learn how he has put Northern Trust at the forefront of institutions that are looking to streamline and automate by taking the phone and fax out of the corporate-actions equation.
HyperFeed Models New Offering
Market-data vendor HyperFeed Technologies has launched a new model for its services, called Managed Exchange Platform Services (MEPS).
Ibbotson Aims to Aid Financial Planning
Financial advisers can now take a look at Ibbotson Associates' iPlan, a new product for asset-allocation investment planning and proposal generation. The Chicago-based provider recently released the financial-planning-software product for financial-services institutions.
Nasdaq's New Rule
With the arrival of new Chief Executive Officer Robert Greifeld comes the departure of other prominent Nasdaq executives.
Electronic Trading is King
One look at the floor of this years SIA Technology Show will reveal that electronic trading is becoming a prerequisite to doing business.
Could FIX 4.4 Hurt Omgeo's Post-Trade Play?
A recent study by CityIQ, a London-based consultancy, contends that the latest release of the Financial Information Exchange (FIX) protocol will soon be an alternative to firms using services like Omgeo for post-trade communication among broker/dealers, investment managers and custodians.
MSRB Preps Muni Dealers for Real-Time Shift
The Municipal Securities Rulemaking Board will issue guidelines today for real-time transaction reporting that will impact all municipal securities dealers. The goal is to create a price feed for public dissemination.
* R.J. O'Brien has rolled out an exchange-order-routing and management system from Micro Design Services, LLC of Parsippany, N.J.
* Tradestream Global will host its applications and back-up its data center on the Savvis extranet.
* Investment Technology Group reports that U.S. equity-trading volume totaled 2.2 billion shares for the month ending May 30.
MARKET DATA BRIEFS
* Cazenove, a London-based investment bank, has opted to implement the latest version of Reuters 3000 Xtra modules for more than 200 employees.
* The London Stock Exchange is being backed by industry-trade groups on its attempts to extend the Sedol numbering system for instrument identification.
* The Nasdaq Stock Market recently announced the release of the Nasdaq Corporate Services Network for listed companies.
RISK MANAGEMENT TECHNOLOGY BRIEFS
* JPMorgan will begin this July to beta test MorganRisk, a new ASP (application service provider)-based service to measure market risk.
* ABN AMRO was a awarded a major CLS (Continuous Linked Settlement) third-party services mandate by Banca Akras of Italy.
* FNX established a regional customer support and software development center in Bangkok, Thailand.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS
* Investment-management-industry experts recently convened to discuss the merits of a standard for business reporting.
* Advent Software has aligned with STP-software-solution provider, Netik, to create a solution for investment accounting, data management and reporting.
* LatentZero, a buy-side front-office-technology vendor, has announced that LogicaCMG is an Accredited Implementation Partner.
* Fidelity ActionsXchange unveiled ActionsWatch, a new, Web-based product aimed at investment managers, broker/dealers and hedge funds.
* Mercator Software, Inc. announced the release of Mercator InsideGemini Plus, a solution that allows matching of electronic business messages.
* ABN AMRO announced the launch of CLS FastTrack. This service enables institutions to achieve full CLS Third Party participant status in six weeks.