T+1 -- Which Direction Will the Industry Take?
T+1 is fast approaching, and as quickly as preparing for it is being pushed to the forefront of securities and investments firm's technology strategies, just as quickly are the number of solutions to chose from beginning to confuse participants.
TT Launches New Graphical User Interface
Trading Technologies' MD Trader, which has been integrated with TT's front-end workstation products, X Trader and X Trader Mercury, is expected to improve price transparency and enhance trade executions for clients who use those systems.
Optimark looks for buyers for its disappointing U.S. stock trading business; Optimark's Roger Burkhardt accepts post as NYSE's chief technology officer and svp; International Securities Exchange scheduled to begin trading stock options on Gateway, Inc. in decimals.
Bridge Information Systems offers customers on-site capacity testing and assessment; American Century chooses Arbortext to build a variety of investment product offerings; Nasdaq plans to start pilot for conversion to decimal notation this week.
Global Link To Connect Through EzeCastle
State Street deal with EzeCastle will facilitate routing to exchanges and trading systems worldwide. A new offering combining functionality is expected this week.
WealthPlace Sets Sights on the Wealthy Wired
WealthPlace.com, launching in September, will serve as a portal site to reach clients more interested in preserving wealth than in how much a flat trade costs on an online brokerage transaction.
Savvis signs deal with Boston Stock Exchange; Knight Trading Group hires Robert Stellato as global head of institutional sales; eBondUSA.com makes it debut.
eCommerce in the U.S. Fixed Income Markets
Implementing an electronic trading system that can manage
the distinctive characteristics of the vast array of securities in today's
markets presents a major challenge. The Bond Market Association's annual review of electronic transaction systems takes a detailed look at the market's key players.
A Conversation With Joseph Eng
Everyone is wondering what new CIO, Joseph Eng, is planning for S.W.I.F.T.-s next generation of standards. Eng discusses this and other issues with WS&T-s Executive Editor, Kerry Massaro.
The GSTPA mulls its choice for the industry's first model to share post-trade, pre-settlement data on cross border trades.
SuperMontage: ECNs, Nasdaq Make Their Cases in D.C.
Sources confirm that a number of ECNs and several high-ranking members of Nasdaq met with SEC Chairman Levitt and Phil Gramm (R-Texas) to present arguments for and against Nasdaq's proposed SuperMontage.
State Street Eyes Expansion for Bond Connect
With the incorporation of a European bond database into the electronic fixed-income trading platform, coverage of European debt instruments and U.S. municipal bonds is on the horizon for Q1 next year.
ePIT names Timothy E. Campbell president and chief operating officer; Stephen Ficara and Joel Gallo join TradingLinx.com; The Chicago Mercantile Exchange to launch new group of contracts, the FORTUNE e-50 index futures, on Sept. 5.
Watcher Introduces Decimal-Ready
Watcher Technologies releases a new version of its WatcherPlus trading platform that gives traders the ability to express their orders
IT Hiring Binge Continues
Most CIO's expect to continue hiring information technology (IT) personnel during the third quarter of 2000.