IBM Buys InfoDyne
Big Blue will connect InfoDyne's market data platform with WebSphere middle- and back-office processing technology
Want Your IT to Look Like Wachovia's? Call Tony Bishop
We checked in yesterday with former Wachovia IT wunderkind Tony Bishop, who led a three year IT re-architecture effort at the firm (you can read about some of his work here). Last fall, Bishop, then a Wachovia senior vice president, took 15 of his staff and left to start his own consulting firm, called Adaptivity.
A CEP Toolkit Just for Quant Researchers
Intrigued by Vhayu's announcement of a complex event processing tool geared toward quant researchers, yesterday I looked at this software. It gives quants a means to look for patterns, test ideas and strategies and run what-if scenarios against massive volumes of real-time and historical tick data. It combines some of the features of mathematical algorithmic modeling tools (such as Numerix and Algorithmics) with a fast historical and real-time tick database (a la Vhayu, Kx) with a front-end comp
Virtual Storage and Memory Appliance Combo the Latest Approach to Low Latency
For those on board the advancing trend on Wall Street to virtualize data centers and computing in general, the announcement from Violin and FalconStor this week, that they are offering a virtual storage server bundled with a fast memory appliance, should be interesting. The companies say that for $300 per gigabtye, their storage servers and memory units can stream data at speeds of two gigabytes per second and beyond, accelerating applications 10 to 50 times, while providing the benefits of virt
Wealth Management Trend: Socially Conscious Investing
In the midst of this quarter's write-downs, layoffs and earnings disappointments, wealth management clearly remains a bright, profitable star on Wall Street -- in Merrill Lynch, for instance, wealth management was most strongly profitable unit this quarter and financial advisors have been promised they will be spared from the upcoming layoffs. In an interesting trend, more wealth management dollars are moving into socially aware investing. According to the S
Baby Boomers Prefer Paper Statements and Prospectuses
Aite Group recently asked a group of 505 U.S. baby boomers (251 pre-retirees and 254 recently retired) how they like to receive brokerage financial statements and prospectuses and to what extent they would like these to be paperless. Surprisingly, they're not as willing to forego paper as one might expect in these carbon-footprint-conscious times.
Morgan Stanley Stands Up At Salesforce Revival
Salesforce.com's Tour de Force event this morning was the closest I've ever come to attending a spiritual revival like the ones on TV. There was loud pop music, a charismatic and telegenic leader (CEO Marc Benioff) with a strong and clear if narrow-minded message (which is: utility or cloud computing is the future path for all business applications, preferably hosted on Salesforce.com's servers and software platform), dazzled audience members obediently yet enthusiastically nodding and clapping,
Outsourcing Losing Its Luster
Broker-dealers will be able to offer primary and multicustodial brokerage and direct-to-fund account opening from one system.
FINRA Issues Guidelines to Prevent Rogue Trading
In the aftermath of the clamorous Soc Gen scandal, FINRA has issued guidance to financial firms outlining best practices for detecting and preventing rogue trading.
FINRA CEO Mary L. Schapiro pointed out that while rogue trading isn't new, pervasive elctronic trading and market lingages have increased pressure on some firms to relax internal controls...
Can Wall Street Learn to Sustain Cost Reduction?
I had lunch with Bob Gach, global managing director capital markets at Accenture, last week. We chatted about a number of topics but one of the most interesting was Wall Street 's quest for sustainable cost reduction.
Time to End Wall Street IT's Boom and Bust Cycle?
When the industry was generating huge profits from packaging and trading complex derivatives and needed to launch a system in 30 days, cost didn't matter. But now that the bubble has burst, the industry is more focused on not only how to reduce costs but sustaining the operating model in good times and bad.
Opportunities Beckon Amid Economic Turmoil
A shaky economy and the defibrillation of many fixed-income products provide fertile ground for automated trading, fixed-income ECNs and exchanges -- as well as opportunities for those willing to take some calculated risk.
Network Accelerator Makes Ethernet Networks Infiniband-Like
If yours is like many Wall Street firms, you'd like to upgrade the one-gigabit Ethernet networks in your data centers to speed up applications, but you're not sure you want to make the leap to an exotic alternative like Infiniband or Fibre Channel. Startup company Teak Technologies offers a radically different idea: replace your end-of-row network switches with a layer of small, local switches that fit directly into racks or blades and, according to Teak, can accelerate an Ethernet network, save
Direct Market Access to Continue Steady Growth
Celent estimates that 15 percent to 18 percent of current U.S. equities flow goes through direct market access (DMA) pipes, a number that is expected to increase to 20 percent by 2010.
Financial Institutions Evaluate Biometrics
While financial institutions aren't yet ready for consumer-facing biometrics deployments, these technologies are gaining popularity for behind-the-scenes authentication.