Subprime Crisis Inspires Christmas Poems
The Wall Street Journal's front-page, middle-column story today alerted us to a spate of CDO-crisis-inspired Christmas poems. We thought we'd share with you two of the efforts the Journal found and a third we found on our own.
First is Broker Joe, written by Cameron Crise, a currency investor at Fortis, London. This is based on Dr. Seuss's Green Eggs and Ham and illustrated with drawings from the book.
Remote Desktops Coming to Wall Street in 2008
Here's a prediction for the coming year: remote desktopping -- in other words, moving desktop CPUs off (or out from under) desks and into racks, data centers and closets -- will hit the Street in force some time in 2008, or maybe 2009. Wachovia has already said they're kitting out the new trading floor in their under-construction Charlotte headquarters with remote desktops (or "back-racked PCs" as they call them), which will open in 2009, and the inventors of the latest generation of remote desk
Wall Street Firms Increasingly Adopt Web 2.0
Financial firms increasingly are adopting Web 2.0 technologies to give customers the collaborative tools they've come to expect online. But traditional firms still have to catch up with the new generation of online brokers, and security remains a major concern.
Retirees Seldom Move Assets
Aite Group report suggests that once retirees have entrusted their assets with certain firms, they tend to stay there.
Three Prongs to Wachovia’s Virtual IT Strategy
Wachovia's vision of creating a virtual IT environment will provide the bank with a more agile technology infrastructure while cutting costs and helping the environment, says Jacob Hall, vice president and head of Wachovia's platform design and data center technology products group. According to Hall, the strategy is based on three principles:
Minority- and Woman-Owned Broker Dealers Gaining Ground
More and more state and local pension funds are directing portions of their order flow to minority and woman-owned broker dealers. How are firms selected and what is important to consider when trading with these smaller shops?
What is JPMorgan Doing in Luxembourg?
When we read this morning that JPMorgan is opening a hedge fund services office in Luxembourg, we thought, Luxembourg? Isn't that a postage-stamp sized country with a handful of people living in it? (Lacking confidence in our geographic knowledge, we checked wikipedia and found that indeed, Luxembourg is "a small landlocked country in western Europe, bordered by Belgium, France, and Germany. Luxembourg has a population of under half a million people in an area of approximately 2,586 square kilom
Empire Financial to Donate Day's Profits to Cancer Center
We might all think that one day we'll make a difference. One day after this or that, we will put aside our personal needs and do something that will make a dent---no matter how small--toward helpign others. Most of us never do it, but Gerry Mastrianni, head of trading at Empire Financial Group, a Longwood, Florida-based firm is an exception.
NYSE Specialist Elimination Is Overdue
The NYSE specialist may soon be eliminated and replaced with designated market makers. But whether these new market intermediaries are effective and profitable is questionable.
TKS’ Penny Gets a Pickup
New York-based TKS Solutions has expanded the feature set of its flagship partnership and shareholder accounting software, Penny.
CIOs Must Lead By Example
CIOs need to exercise influence rather than control, refocusing the IT culture to home in on business value, better alternatives and rapid change.
CIO Influence Is Waning
CIO turnover is increasing, and the the role of the top IT executive is at a critical point of change.
Data Breaches Costly For Financial Firms
Data breaches are costly for any company, but according to a 2007 study by the Ponemon Institute the average total cost for an incident is much higher in the financial sector.
How Will the TSX/ Montreal Merger Affect Spreads?
CFA and an Advanced Trading reader, Bud Haslett of Miller Tabak & Co., emailed me the following commentary. I'd like to ask our readers the question he asked me: Do you think the
merger will result in narrower spreads and increased option volume for the combined organization?
Below is Bud's commentary:
iPhone Gets Secure VPN Solution
In a bid to turn Apple's iPhone into a business tool, Astaro, a unified threat management solution maker, announced it will now provide the device's users with virtual office capabilities...
Data Analysis Demand Spurs Need For Business Intelligence, Says American Century's Gudrun Neumann
Keeping up with all the advances on the trading end also is important, as is the greening of IT, says Gudrun Neumann in a Wall Street & Technology podcast. We expect questions from potential customers along the lines of how green our data centers are.
SEC Rolls Out Taxonomies That Bring XBRL Reporting Closer to Reality
Yesterday, the SEC released accounting-rule-savvy taxonomies that companies can start using to submit financial statements, such as 10-Ks, to the agency electronically. (You can view the new taxonomies here.) An SEC committee on the future of financial reporting has recommended that the SEC consider mandating the use of XBRL for financial statements for fiscal years ending December 31, 2008 for large, acclerated filers (companies with
Platform Computing Lets Quants, Developers Quickly Put Apps On A Grid
"Quants can wear pants to work now," says Martin Harris, product manager at Platform Computing, citing this as one of the benefits of the Symphony 4 grid computing solution his company announced today. Before, he explains, quants at many firms had to wear shorts because they had so many CPUs under their desk that all ran hot.