TradeTech West: Algos Inside Out
How exactly are buy side traders using algorithms? That was the question posed to a panel at the TradeTech West conference taking place in San Francisco this week.
Tips For Safely Navigating Facebook
There are ways employees can use social networking sites such as Facebook more safely, says Graham Cluley, senior technology consultant at security firm Sophos.
Financial Services Firms Ban Facebook
According to a survey of 600 global companies carried out by security firm Sophos, 50 percent of companies ban their employees from accessing Facebook.
CAPIS Shifts OMS to Fidessa Trading Platform
Capital Institutional Services (CAPIS), the global agency brokerage firm based in Dallas, said it's moving to the Fidessa trading platform as a replacement for its proprietary order management system.
"Technology wise it's probably the most important decision we made in our 30-year old firm," says Jim Morrow, COO at CAPIS in an interview on Friday.
Rosenblatt Securities Taps Jay Indovino
As a managing director at Rosenblatt Securities, Indovino will focus on helping Rosenblatt grow its client base, as well as tapping into business development opportunities and connecting the firm with new technology platforms.
Omgeo Board Adds Michael Bodson
Michael C. Bodson, executive managing director for business management, strategy and marketing for The Depository Trust & Clearing Corp. (DTCC) has replaced Jill M. Considine on Omgeo's board of managers.
How Soon Will Wall Street Adopt Quad-Core?
How quickly will capital markets firms deploy Intel's and AMD's new quad-core processors? We asked a few industry experts and got varied answers. Gartner analyst John Enck believes most firms will follow their usual server replacement schedule (typically three years after purchase). "The change in performance, even for those optimized applications, just isn't dramatic enough for them to go through the pain and the manpower it takes to swap out an existing on-the-floor server that's still under w
FX Bridge Taps FIX Flyer for High Speed Integration
As the adoption of the FIX fuels electronic trading in foreign exchange and expands into new areas such as FX options, banks are demanding integration with back office and risk management technology. Today, FX Bridge, an Atlanta-based FX dealing system, which specializes in FX options, announced that it's partnering with New York-based FIX Flyer to integrate the FIX messaging standard into its solution.
News from the High Performance on Wall Street Show
The ongoing slugfest between providers of high-performance computing solutions was evident at the High Performance on Wall Street show today at the Roosevelt Hotel. All the major vendors of CPUs, GPUs, FPGAs, server grid software, data grid software and other high performance hardware and software are here, providing updates on their solutions and gently dissing the competition. As slugfests go, this is an amiable one and many of these companies are actually working together in pairs and groups
Oracle Delivers Coherence 3.3
Solution enables firms to push data closer to applications for faster access and greater resource utilization, Oracle claims.
Cisco Eases the Upgrade to Infiniband for Market Data Feeds
There's no question switching from a one gigabit Ethernet network to Infiniband can dramatically improve the speed of multicasting -- sending market data from feed handlers to multiple trading desks. Several tests conducted over the past year by the Securities Technology Analysis Center have proven this. Faster multicasting leads to improved ability to conduct algorithmic trading and better compliance with Reg NMS and MiFID. The question is, how do you m
Audentes Technology Deploys Orc Liquidator
As black box trading takes off, Audentes Technology LLC, a small Chicago-based proprietary trading firm, has deployed Orc Liquidator from Orc Software as its derivatives algorithmic trading platform.
Audentes declined to comment, in a statement, Libby Christy, operations manager for Audentes Technology, said the firm was impressed by Orc Liquidator's fast time-to-market, low latency, and connectivity to a large number of markets."
Cross Asset Trading Heats Up
Alpha-seeking firms increasingly are looking to cross-asset trading and multi-asset platforms to improve performance.
BGC/Cantor Fitzgerald Remembers 9/11 With A Star-Studded Charity Event
BGC, a voice brokerage arm of Cantor Fitzgerald, is holding its third annual charity telethon of sorts today to commemorate September 11. Customers who call in to Cantor's downtown BGC trading floor today may get their orders placed by Yogi Berra, Whoopi Goldberg, Dr. Ruth Westheimer, Eli Wallach or any of the other celebrities visiting the trading floor. (Each celebrity was brought in by one of the 40 charities participating, which will receive the firm's trading profits for the day.) "Septemb
The Boston Equity Exchange (BEX) Calls It Quits
The Boston Equities Exchange (BEX) became the first regional exchange to throw in the towel, but the Boston Stock Exchange (BSX) isn't down for the count, says Special Contributing Editor Larry Tabb.
Intel Says Its New Processor Will Improve Data Center Performance 3X
The new quad-core Xeon 7300 processor Intel announced yesterday should provide twice the application performance of its dual-core server chips, according to Rick Jacobsen in Intel's financial services industry marketing group. With the use of virtualization, applications should run two-and-a-half times faster than they do today on 7300-powered servers, and the new chip offers three times the performance per watt, which should translate into data centers that are three times as efficient as they
Better Credit Model with Supercomputing
Hedge funds that suffered heavy losses in debt securities tied to sub-prime mortgages, missed the fundamentals but they could also blame their credit models for not detecting the impact of late payments and delinquencies. It's not surprising that there are shortcomings to modeling credit risk of illiquid debt instruments, according to Peter Cotton, CEO ofJulius Finance, a private research firm and development shop in New York.
Buy Side Firms Expected to Keep Hiring Research Analysts
Buy-side firms will increase their spending on internal research by 28.8% over the next few years, from $5.8 billion in 2006 to $7.4 billion in 2011, according to analysts at Integrity Research Associates in New York City, who released a forecast yesterday. The firm believes the buy side will continue hiring more equity analysts due to the decrease in sell-side research and what the analysts say is a decline in its perceived value.