When Risk Managers Cry Wolf
By Greg MacSweeney, Wall Street & Technology
Avoiding "reputation risk" is a common justification for increasing security measures, protecting customers' financial information and reporting security breaches in a timely manner. But now more than 18 months after the big ChoicePoint incident when 163,000 accounts were affected by ID thieves, the doom and gloom that financial services risk professionals have predicted has failed to come true.
Creditex Completes Merger With CreditTrade
Ivy Schmerken, Wall Street & Technology
Creditex completed its merger with CreditTrade, underscoring plans to create a global leader in voice, hybrid and electronic execution in the credit derivatives market. The transaction, announced on July 25, has received both NASD and FSA approvals, according to Tuesday's release.
Trading Strategies, Swapping Opinions
What matters to buy-side traders? Simplicity in technology, responsiveness from service providers and, yes, relationships, which, on a scale of one to 10, still rank a 10.
The New Soft Dollars
Have you noticed that no one in the industry uses the term "soft dollars" anymore?
The Buy-Side Dilemma: Research vs. Execution
Commission-sharing arrangements are a big trend in the U.K. Now, the buy side is evaluating CSAs as a way to pay for research and consolidate their trading relationships in the U.S.
Regulation NMS: Preparing for Impact
As we approach the Regulation NMS implementation deadline, brokers and exchanges are faced with the challenge of utilizing technology in order to become compliant while adapting to the evolving marketplace.
Much Ado About Nothing
Sarbanes-Oxley is only partly to blame for the decline in foreign companies listing their stock on U.S. markets.
Futures Crossing to Wait
Despite recent changes in the futures market, the futures exchanges shouldn't expect competition any time soon.
Dark Books: The Next Chapter
Two new dark books have been created to link venues and decrease market fragmentation, but will they be the answer the buy side is looking for?
Citi's Richardson to Head BeX
The Boston Equities Exchange (BeX) hired former Citigroup managing director Thomas Richardson as its new president.
Buy-side Trading desks can seem a bit mysterious - even to other buy-side traders.
Business is good. Corporate profits are setting records, and Wall Street bonuses are predicted to set records in 2006 for the second year in a row.
NeoNet Eyes Asian Expansion and New Hires
Ivy Schmerken, Wall Street & Technology
Direct market access broker NeoNet Securities plans to offer connectivity to Asian markets next year and will expand its staff at its Jersey City, New Jersey headquarters.
The expansion of its exchange connectivity will start during the first half of next year, with the Tokyo Stock Exchange in Japan, according to Greg Treacy, dir
Market Data Management Mandate
Financial services firms are building robust infrastructures to handle the anticipated data deluge while continuing to scrutinize market-data-related spending.
Financial services firms increasingly are adopting Web-based tools to better track new business prospects and close deals faster.
U.S. Market Position Under Attack
Three interesting news pieces came across my desk today: the acquisition of Instinet by Nomura; the development of a Pan-European MiFID-ready exchange; and a story about European exchanges and depositories promising to open up their vertically aligned clearing businesses, prompted by the European Financial Services commissioner, Charlie McCreevy, to promote cross-border clearing and settlement competition, innovation and lowered cost.
Complexities Make Boards Worry
The emerging popularity of complex financial instruments is of major concern to financial institutions, as they'll be forced to respond to this increased demand via new products, revamped infrastructure and, perhaps most importantly, regulatory compliance, according to a new PricewaterhouseCoopers (New York) survey.
Ready for FFIEC
A new report from Boston-based Aite Group shows that the financial services industry is geared up for the Federal Financial Institutions Examination Council's (FFIEC) end-of-year deadline for outlining a plan for stronger online authentication.
The World After MiFID
London-based consultancy LogicaCMG explores the potential impacts of the Markets in Financial Instruments Directive (MiFID) and forecasts three scenarios that may play out in the E.U.'s capital markets over the next five years
Electronic Trading Expectations Soften
The buy-side trading desk continues to transform itself into a more electronic, automated and self-directed operation, but the spread of electronic trading is slowing, according to TABB Group.
In a poll of 20 asset managers and institutional investors conducted by JPMorgan Worldwide Securities Services at its "Operational Success in OTC Derivatives" forums in New York and London, the buy siders shared their biggest challenges in OTC derivatives operations.
FSIs Care More About Compliance
New research out of the Business Performance Management Forum (Palo Alto, Calif.) verifies the financial services industry's high prioritization of compliance as a business function.