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News & Commentary
Content tagged with Trading Technology posted in July 2012
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BGC Partners to Create Microwave Network Between Chicago and New Jersey
News  |  7/31/2012  | 
Global wholesale broker forms Epsilon Network with Thesys Technologies to create fastest route for futures, equities and fixed income between CME, Nasdaq, BGC and ELX Futures data centers.
Facebook Fiasco Drags UBS Profit Lower
News  |  7/31/2012  | 
UBS blamed its 349 million Swiss franc ($360 million)loss from Facebook's botched U.S. market debut on exchange operator Nasdaq, saying orders for the stock had been entered multiple times due to a systems failure.
Recession, Libor, Facebook Punish Europe's Banks
News  |  7/31/2012  | 
Leading European banks reported dismal profits on Tuesday, blaming everything from the continent's debt crisis and Spain's property market crash to Facebook's disastrous stock market debut.
As Deutsche Bank Cuts More Jobs, New CEO Urges Change In Compensation Model
News  |  7/31/2012  | 
Executive pay at banks in the U.S. and Europe are under fire, and shareholders on both sides of the Atlantic have been protesting against what they view as unjustified compensation packages.
High-Frequency Trading Is Costing Investors Billions: Pragma Securities
News  |  7/31/2012  | 
The firm said it reached that conclusion after studying high-volume stocks and discovering they were more difficult - and expensive - to trade.
Momentum Trading Partners Closes Shop, Shops Around
Commentary  |  7/31/2012  | 
The hedge fund brokerage that kept a lid on information leakage stopped trading yesterday and is putting itself on the market. Why? Tough market realities that are claiming other struggling brokerages.
Futures Industry Debates Solution to Protect Customer Segregated Accounts
Commentary  |  7/30/2012  | 
A CFTC panel agreed on the urgency of developing a technological solution for verification of funds in customer segregated accounts, but one industry veteran, warned not to wait until everything is perfect.
6 Steps Wealth Management Firms Must Take to Attract Millennials
News  |  7/30/2012  | 
A large number of affluent Millennials have shifted their assets to a different firm over the last three years. Here's a low-down of what wealth management firms need to do to attract, and retain their young clients.
Young Investors Demand Top-Notch Brokerage Tools – Or Else
News  |  7/30/2012  | 
Today's wealth managers need to offer convenience and online tools to lure Gen-X and Gen-Y investors.
Bernanke, Geithner Response to Libor Scandal Rings Hollow
News  |  7/30/2012  | 
Ben Bernanke heads the most powerful central bank in the world. Yet the Federal Reserve chairman says he was largely powerless to stop what some are calling the biggest financial fraud in history.
Hacking Law from 1980s Is Out of Step, Say Critics
News  |  7/30/2012  | 
A 1984 anti-hacking law passed when computer crime was in its infancy is under fire for potentially going too far in criminalizing the actions of employees.
New York State Pension Fund Taps Fuller as CIO
News  |  7/30/2012  | 
New York has hired investment veteran Vicki Fuller as the chief investment officer overseeing the state's $150 billion pension fund, the state comptroller said.
Mobile First: Financial Firms Must Focus on Creating a Seamless Customer Experience
Commentary  |  7/30/2012  | 
When it comes to mobility, the biggest challenge for financial firms is in synchronizing their mobile, online and offline experiences to meet the expecations of both their customers and internal users.
The Mobile Frontier: Next-Gen Apps on the Street
Commentary  |  7/30/2012  | 
The rise of mobile apps is transforming Wall Street, enhancing the customer experience, improving portfolio and risk management, advancing the search for alpha, and even strengthening compliance.
Bernanke, Geithner Response to Libor Scandal Rings Hollow
News  |  7/27/2012  | 
Ben Bernanke heads the most powerful central bank in the world. Yet the Federal Reserve chairman says he was largely powerless to stop what some are calling the biggest financial fraud in history: the systematic manipulation of a key global interest rate.
Mobile, HTML5 and Multichanneling in Wealth Management
Commentary  |  7/27/2012  | 
Emerging technologies such as HTML5 can help wealth management firms empower their advisers to meet the 'anytime, anywhere' expectations of their clients across multiple mobile platforms and devices.
The End of An Era: ICE Closes NY Trading Floor
News  |  7/27/2012  | 
The exchange, depicted in the popular 1983 film Trading Places, has a history dating back to the New York Cotton Exchange, which was founded in 1870 and later became the Coffee, Sugar and Cocoa Exchange.
ICE to Close New York Floor Trading After 142 Years
News  |  7/27/2012  | 
The 142-year-old tradition of floor-based open-outcry trading at the former New York Cotton Exchange is coming to an end as the last of its contracts go exclusively electronic.
JPMorgan Shuffles Managers Below Dimon
News  |  7/27/2012  | 
JPMorgan Chase announced a broad management shakeup among the executives just below Jamie Dimon, with Daniel Pinto and Mike Cavanagh becoming co-CEOs of the Corporate & Investment Bank.
Big Asset Managers Miss Wall Street Targets as Investors Flee
News  |  7/27/2012  | 
Four of the largest U.S. money managers reported sharp declines in second-quarter earnings, as volatile markets and fleeing customers cut into their fee income.
JPMorgan Shuffles Managers Below Dimon
News  |  7/27/2012  | 
JPMorgan Chase & Co, the biggest U.S. bank, announced a broad management shakeup among the executives just below Jamie Dimon, signaling that the bank is preparing for life after its famed chief executive officer.
Barclays Dragged Into New Probe After Libor Blow
News  |  7/27/2012  | 
Barclays revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.
The True Cost of HFT, Sandy Weill's About Face, Death Star of Finance, and more
Slideshows  |  7/27/2012  | 
Sandy Weill, the former Citigroup chief executive and shatterer of Glass-Steagall says the industry needs a return to the separation of commercial and investment banks, while a recent study on HFT reveals that the practice costs long-term investors $2.5 billion per year.
Interactive Brokers to Pay $700,000 to Settle Charges
News  |  7/26/2012  | 
Interactive Brokers agreed to pay a $700,000 penalty to settle charges by the CFTC that it violated reporting rules and failed to "diligently" supervise the handling of accounts.
Outspoken Analyst Kinnucan Admits to Insider Trading
News  |  7/26/2012  | 
A brash securities analyst who refused to cooperate with a broad probe of insider trading pleaded guilty to criminal charges.
Geithner Says Did All He Could to Address Libor Problem
News  |  7/26/2012  | 
Timothy Geithner, U.S. Treasury Secretary, under pressure for not doing enough to stop fraudulent manipulation of a key benchmark interest rate, told lawmakers he alerted the appropriate authorities "early on."
CFTC Panel to Weigh New Customer Fund Safeguards
News  |  7/26/2012  | 
The CFTC is considering requiring direct electronic access to customer accounts in addition to other technological improvements in order to protect customer funds.
The Funniest Sandy Weill Twitter Responses
Slideshows  |  7/26/2012  | 
Former Citigroup CEO and the architect of the modern mega-bank dropped a bombshell on CNBC yesterday: We should break up the big banks that are too big to fail. This statement may seem simple and sensible but consider the source: this came from the man who created these very banking behemoths. Needless to say, Twitter was abuzz comparing Sandy Weill's truth bomb to other statements no one ever expected to hear. Enjoy.
A Game Called Compliance
News  |  7/25/2012  | 
Low Trading Volumes at Exchanges Keep Earnings Under Pressure
News  |  7/25/2012  | 
As U.S. exchanges start reporting financial results, expectations are mixed following a quarter in which many investors pulled back from the markets because of an uncertain, sluggish global economy.
Are Big Banks' Glory Days Gone for Good?
News  |  7/25/2012  | 
Ever since the financial crisis, banks have held out hopes of a return to the good times. But analysts and investors are now questioning whether things have changed for good.
Weill Changes Mind, Calls for Big Banks to Break Up
News  |  7/25/2012  | 
Sanford Weill, the tycoon who built financial conglomerate Citigroup into a massive commercial and investment bank, said it is time to split up the biggest banks so they can go back to growing again.
Sandy Weill: Break Up the Banks
Commentary  |  7/25/2012  | 
The man who created the modern bank supermarket and shattered Glass-Steagall thinks the banks are too big and should be broken up.
Eagle Investment Systems Strikes Alliance with Microstrategy
News  |  7/25/2012  | 
Investment manager clients of Eagle will get access to portfolio data and analytics via web, mobile devices and Microsoft Office applications.
Dow Jones to Sell Newswires Directly to Wall Street Through WSJ.com
News  |  7/24/2012  | 
When Lex Fenwick started his job as CEO of Dow Jones, he found it strange that one of Wall Street's most historic and well-known brands did not have a direct pipeline into Wall Street itself.
Libor Now Honest Says British Regulator
News  |  7/24/2012  | 
Dishonesty uncovered in setting Libor benchmark interest rates is now in the past and replacing them would be problematic, the head of Britain's financial regulator said.
Citi Integrates Dow Jones' FX Trader News
News  |  7/24/2012  | 
Citi will disseminate the real-time data releases and global economic news to its FX traders and sales staff through the bank's inhouse information service, CitiFX Wire.
Newedge Picks Fidessa for OMS and Global Multi-Asset Trading Platform
News  |  7/24/2012  | 
System to provide a managed, multi-asset workflow solution for over 100 markets worldwide.
Chilean Broker Taps FIX Flyer for Testing Algos and Connectivity
News  |  7/24/2012  | 
Larrain Vial will rely on FIX Flyer's Ignition Trade Simulation and Certification Tool to test in-house algos and connectivity to a network of LatAm exchanges.
ITG Updates Hedge Pro Algo with Switch Trade Strategy
News  |  7/24/2012  | 
The firm says the update will help institutional investors minimize risk.
Dow Jones to Sell Newswires Through WSJ.com
News  |  7/24/2012  | 
When Lex Fenwick started his job as CEO of Dow Jones & Co more than five months ago, he found it strange that one of Wall Street's most historic and well-known brands did not have a direct pipeline into Wall Street itself.
Thomson Reuters Expands Elektron Data Offering
News  |  7/23/2012  | 
The company is launching two new initiatives for U.S-based financial institutions.
The Biggest Pain Point in Dodd-Frank
News  |  7/23/2012  | 
So far, one rule stands out as the most burdensome in the 848-page Act.
Prosecutors, Regulators Close to Making Libor Arrests
News  |  7/23/2012  | 
U.S. prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates.
Nasdaq Boosts Facebook Compensation Plan to $62 Million
News  |  7/23/2012  | 
Nasdaq OMX plans to pay out $62 million in cash to firms that lost money in Facebook's bungled IPO, modifying an earlier plan that drew criticism.
Dell Releases Big Data Retention Product With Searchable Data Compression
News  |  7/23/2012  | 
The Dell Big Data Retention solution utilizes RainStor data compression techniques.
As Wall Street Turns: Portware Buys Pipeline Tech Assets
News  |  7/23/2012  | 
In a move that seems too close to the Pipeline soap opera, EMS provider Portware will integrate the predictive analytics that it acquired from the former dark pool, while offering customers a broker-neutral solution to improve trading performance.
New Tech For The Buy Side? Not So Fast
Commentary  |  7/20/2012  | 
When it comes to adopting new IT, the buy side may be holding back and waiting for others to take the first bite.
Tech Innovators Focus On Big Data
News  |  7/20/2012  | 
A number of entrepreneurs showcasing their latest inventions to venture capitalists at the FinTech Innovation Lab aim to help financial institutions make better sense of Big Data.
Deutsche Bank Rolls Out New FX Platform in Currency Arms Race
News  |  7/20/2012  | 
The largest bank in FX revamped its Autobahn FX platform to cater to different client segments and respond to changes in regulation and market structure.
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