Consulting Giants Take a Walk on the Cyber Side
At a time when the dot-com consulting firms are enjoying inflated stock prices, professional service consulting giants like Andersen, PricewaterhouseCoopers, KPMG, Deloitte Touche Tohmatsu and Ernst & Young have been equally busy transforming their own consulting practices into e-business firms.
Investec Brings Applications to the Web
Investec Ernst & Company, the North American arm of the Investec Group, an international banking group based in Johannesburg, South Africa, is rolling out its new DeskTec system.
Mr. Stock Seeks Alliance with eSpeed
In an effort to provide its retail clients with online fixed-income trading capability, Mr. Stockan Internet brokerage firm specializing in stock and options tradingis discussing a technology partnership with Cantor Fitzgerald L.P.s eSpeed unit.
MatchbookFX Signs Back-Office Deal with Shadow Financial; IPO on Horizon
In an effort to cut its overhead and provide electronic straight-through processing (STP) for its clients, MatchbookFXan Internet-driven foreign exchange (FX) matching system covering spot currencieshas incorporated Shadow Financial Services clearance and settlement software into its system.
NYMEX Eyes Acquisition of BrentBroker.com
The New York Mercantile Exchange (NYMEX) is evaluating whether it should purchase a stake in BrentBroker.com, a soon-to-be-launched over-the-counter electronic communications network (ECN) covering the energy market.
ILX and TheStreet.com Sign News Distribution Pact
In a deal that marks its first foray into the world of major market data vendors, TheStreet.com has signed a distribution agreement with ILX Systems to make its financial news and commentary available over the ILX Workstation.
PointBase Packs Small Java DBMS into Handhelds
When Oracle co-founder Bruce Scott left the worlds leading supplier of large database management systems (DBMSs) in 1984, he knew that lightweight databases would be the next great hit.
Dain Rauscher Retools Brokers to Manage Data
Leveraging its existing back office, in January, Minneapolis-based Dain Rauscher Corporation said it would provide the firms more than 2,000 brokers with a central portal to access enterprise customer information by signing an agreement with Toronto-based Janna Systems.
Will the Brokerage Firm Become the Financial Nerve Center?
As brokerage firms are swiftly taking advantage of the Web and have done so more quickly than their banking and insurance company brethren, the question arises: will brokerage firms become the pulse of the marketelectronically combining insurance, banking and brokerage in one central hub?
A Conversation With Harley Lippman
This month, WS&T senior editor Robert Sales picked the brain of Harley Lippman, president and chief executive officer of Genesis 10, a software development and technology consulting firm specializing in e-commerce solutions.
GFInet Targets Professional Traders With New Electronic Platform
New York-based inter-dealer broker GFI Group has launched a new electronic trading platform for the professional trading community. GFInet is currently in use at GFI Groups international equity business and is in the process of being installed at 15 client sites.
Power to the People
While there is no single individual crusading for a more open IPO market, now an insurgent-led movement, is gaining grass roots support to reform the IPO pricing and distributionprocess, utilizing the power of technology and the Internet to reach millions of online investors.
CreditEx Poised to Redefine Credit Derivatives Trading
The CreditEx site is set to be the first online trading system for credit derivatives. CreditEx seeks to provide a single destination for information and execution capabilities, increasing transparency and, as always, liquidity.
Cant get enough of credit derivatives and want more information? Need help managing your credit risk? Check out the following sites to research credit derivatives, credit ratings and White Papers on this burgeoning field.
Crystal Box Offers Clear View of Risk Management at CDC
CDC Investment Management, a subsidiary of Caisse des Depots et Consignations, has joined forces with NetRisk, an enterprise risk management company, to develop Crystal Box, an Internet-based reporting and analysis tool.
CX Gets Green Light For Block Trading: Empowers Buy-Side Firms
In a decision that could heat up the battle for U.S. Treasury futures market share, the Cantor Exchange (CX) last week received permission from the Commodity Futures Trading Commission (CFTC) to perform block trades of its long bond and 10-year note futures products. The CFTCs approval will enable participants in CXs market to execute trades of 100 or more contractsfor the designated productsdirectly between each other, providing institutional investment managers with in
Schwab Enters Beta with Wireless Trading
Charles Schwab & Co. has taken its first steps into the largely uncharted waters of wireless trading, beginning the beta test of its wireless trading product on February 14th. This Valentines Day gift represents the beginning of a soft launch in only a few areas, says Bob Taylor, who is heading up the wireless initiative. The beta testing will be followed up by a nationwide release by the end of this quarter.
CX Gets Block Trading Approval
In a decision that could heat up the battle for U.S. Treasury futures market share, the Cantor Exchange (CX) last week received permission from the Commodity Futures Trading Commission (CFTC) to perform block trades of its long bond and 10-year note futures products. The CFTCs approval will enable participants in CXs market to execute trades of 100 or more contractsfor the designated productsdirectly between each other.
Maxfunds.com Goes Live With Equity No-Load Mutual Fund Portal
Maxfunds.com went live last week with a site that purports to be the only place on the Web where an average investor can easily research and compare equity no-load mutual funds. With over 1550 funds on the site200 of them small, unknown funds that may still be valuable to the average investorMaxfunds.com is poised to become a financial information portal.
Panel Explores ECN Issues
Competition is good and consolidation of order flow may be necessary, but a Nasdaq-sponsored central limit order book is not in the best interests of ECNs. At least, thats the opinion of panelists who last week spoke at an SIA-sponsored conference session entitled: ECNs, Friend or Foe. During the session, representatives from Island, Archipelago, TradeBook and Instinet debated the good, the bad and the future of the ECN business.
CX Gets Green Light For Block Trading: Empowers Buy-Side Firms
As e-commerce pervades the brokerage community, the buy side is beginning to see services never imagined before the advent of the Internet. Brokerages, and third-party vendors, are scrambling to offer institutional money managers online servicesfrom trading and research to risk and portfolio management toolsthat will only increase the level of service that the buy side receives, says Bob Iati, an analyst in the securities and investment practice at the TowerGroup.
New Portal Brings Together Financial Links for Institutional Investors
The recently expanded and enhanced InvestmentSeek.com site provides institutional investors with a complete source for information and research. The site, which currently is attracting about two hundred users per month, brings together and provides links for Web sites focusing on information relevant to the institutional arena.
Dresdner Gestion Installing IDEE
Dresdner RCM Gestion, the French division of Dresdner RCM Global Investors, has just completed installing the core portfolio management component of Décalogs IDÉE, and is beginning installation of the application suites various modules, including IDÉE Trader, IDÉE Compliance and IDÉE Performance. The firm, which spent over 10 months of 1999 installing IDÉEs core functionality, is beginning to port its client portfolios from the propriet
MarketXT Hopes to Expand Following Acquisition by Tradescape
In a stock deal valued at $100 million, online trading firm Tradescape.com last week acquired the after-hours trading system MarketXT. Under the arrangement, which is expected to be completed within a few weeks, Tradescape is expected to integrate the MarketXT trading system with its own and route orders through the recently SEC-approved ECN. While exact terms of the deal have not been revealed, the companies have outlined their plans to go after the institutional arena.
Gateway Financial Set to Go Live with FIXChange.net
Gateway Financial Solutions is planning to go live on Wednesday with FIXChange.net, a network for connecting buy- and sell-side traders directly to independent floor brokers on the floor of the New York Stock Exchange.
W-Trade Releases 401k Application for Handhelds
W-Trade, known for enabling brokers and their clients with wireless trading, has extended its wireless application suite to include w-401k, a portfolio management and trading application suited for investors and fund managers. The product, released with a host of others last week, can also be set up to deliver alerts on position changes dependent on predefined rules.