Clearing the Air
Continuous linked settlement, or CLS, promises to mitigate much of the counterparty risk involved with settling high-value interbank payments. Wayne Ferguson, vice president, global cash management, will be responsible for positioning Deutsche Bank's CLS third-party services globally and agreed to participate in an e-mail interview with BS&T senior associate editor Ivan Schneider. Here are some excerpts from that discussion.
* Macgregor signs an agreement with Omgeo.
* Interactive Brokers launch Universal Account.
* Chicago Board of Trade signs a deal to install Eyretel Inc.'s. Insight Viewer.
* Deutsche Bank will centralize its management of securities pricing, reference and corporate actions data with Asset Control software.
* S&P enters into an agreement with GFI to deliver GFI's real-time market data across S&P's Comstock feed.
* StatPro offers its 136 asset management clients access to a range of indices.
* Decsioneering partners with CCH Incorporated to integrate its Open Crystal Ball Monte Carlo simulation functionality into the latest version of CCH Enteract financial-planning software.
* The National Australia Bank licenses OpVantage's OpVar operational-risk-measurement software.
* FEA and SAS partner to deliver FEA's pricing libraries within SAS Risk Management.
* TNS partners with IBSN, Inc. to offer a new approach to order routing for financial customers.
* Managed Objects announces that its Formula software has been implemented in the U.K. by Fidelity Investments.
* Netik announces the launch of CiQ.
* Mercator Software, Inc. announces that it is providing an integrated STP solution to First State Investments Limited.
* Omgeo announces that thirteen firms sign on as"Early Adopters" of its Omgeo CTM STP platform.
* DTCC elects James V. Umberger to managing director.
SIA SHOW: VMUs: A Landscape in Flux
Though it will undoubtedly develop to be one of the most important segments in the institutional-processing chain of tomorrow, the virtual-matching landscape has yet to take on its final form.
SIA SHOW: ILX Boosts Fixed-Income Content
With the end of a Telerate exclusive on Cantor Fitzgerald bond prices, ILX Systems has been beefing up its fixed-income content and will be demonstrating that through an evolving product called FI Focus.
SIA SHOW: Electronic-Trading Notes
ITG Hong Kong Ltd. launches an Asian version of Posit -- ITG's flagship electronic stock crossing network; The New York Mercantile Exchange starts trading emiNY crude oil and natural gas contracts on June 17; OneChicago launched a new Web site.
SIA SHOW: Operations Notes
State Street Corporation and Seligman announce that they have signed a letter of intent to expand their existing relationship to include outsourcing of operations support for Seligman's $25 billion in assets under management.
SIA SHOW: Market-Data Notes
Standard & Poor's expands its CreditWire ratings and research information service with several new features.
SIA SHOW: Investment-Technology Notes
Macgregor announces that the State of Michigan has selected the Macgregor Financial Trading Platform to automate its equity and fixed-income trading; Financial Models Company Inc., announced that Burgundy Asset Management Ltd., has chosen FMCSylvan as its performance-measurement solution; Financial Fusion, Inc. announced the general availability of TradeForce Suite GlobalFIX.
SIA SHOW: NASD's ADF: In Need of FIX?
ECNs that rely heavily on the FIX messaging protocol may have to think twice about posting their Nasdaq quotes on the so-called ADF that the National Association of Securities Dealers is currently developing.
SIA SHOW: SIA's BCP Committee Gives Update
While business-continuity planning and disaster recovery are still fresh on everyone's mind, the SIA's Business Continuity Planning Committee is set to report on its progress.
SIA SHOW: NYFIX Gets FIX With Javelin
Nyfix began building a Financial-Information-Exchange engine to use internally; it alos considered making it available on a commercial basis. However, after surveying its competition, it opted against it. Javelin Technologies, after all, was at that point a rising star in the new FIX market.
SIA SHOW: Despite Economy, Tech Show is On Track
Considering the economic climate financial-services firms find themselves in today, it wouldn't be a shock to anyone if this year's SIA's Technology Show and Exhibit was a shadow of its former self.
SIA SHOW: Wall Street Braces for E-mail Audits
Electronic-communication storage and retrieval have become a hot topic as major Wall Street firms have been accused of misleading investors and blurring the lines between research and investment-banking activities.
SIA SHOW: Exhibit Hall Shakeup
A tough economy means some prominent names are nowhere to be found at this year's show but, surprisingly, new names abound.
SIA SHOW: Mercator Integrates With BEA
With the goal of saving customers time and money, Mercator and BEA will offer STP-focused financial-services firms a pre-integrated package of connectivity solutions and application servers.
* Iverson enters deal with the Amex to distribute its daily-data feed of exchange-traded funds portfolio composition information to Amex member firms and other users.
* Dow Jones Newswires signs agreement with Logical Information Machines for its Dow Jones Electricity Indexes.
* Reuters offers software tools to directly connect with stock exchanges.
* Suncorp Metway uses Flametree Software's Sienna product for fixed-interest-risk management and performance attribution.
* BlueBay Asset Management selects SunGard's integrated Panorama and Decalog solution for real-time risk management, order management, trading and portfolio management.
* Chicago Equity Partners, LLC selects MFTP to automate its equity- and fixed-income trading.
* TriAct will officially commence operation on June 19, 2002.
* Apt Computer Systems Limited announce the release of its FIXcel software product.