February Market Decline Serves As Wake Up Call
During the brutal market decline of Feb. 27 and the volatility that continued for the next four trading days, hedge funds relied on technology from their brokers, exchanges and service providers to execute orders. To what extent was their trading interrupted and how well did their service providers do?
"I think it was a wake up call for everybody, not only for the hedge funds, but for service providers," says Steven Harrison, president and COO at
Lobby groups have convinced the SEC to conduct a rare review of market-data fees, reenergizing a spirited debate.
Evaluating CRM Solutions When Companies Merge
Today, most financial organizations already have a CRM solution in place. When two organizations merge -- each with its own preferred relationship intelligence software -- how do they determine which system to use moving forward? A few considerations to keep in mind when evaluating CRM include:
TowerGroup Predicts Growing Demand for Defined Contribution Plans
TowerGroup (Needham, Mass.) is urging CTOs to prepare for an influx in demand for defined contribution plans. According to the firm's recently released research on the effects of the Pension Protection Act of 2006 changes initiated by the Act -- such as automatic enrollment and deferral provisions -- will result in a doubling of participant contributions in U.S.-defined contribution plans, reaching $204 billion in 2011.
Saxo Bank Sets Up Shop in Second Life
The Copenhagen-based online investment bank Saxo announced yesterday that it has set up an office in Second Life, the web-based virtual world developed by Linden Lab, San Francisco, in which users (called residents) live out their fantasy lives online and interact with each other through avatars -- animated graph
Schwab Site for Active Traders Gets A Makeover
Yesterday, Schwab unveiled the results of the facelift it's given to its streetsmart.com site for active-trader customers -- those who trade at least nine times per quarter. The upgrades were based on client research and reviews of competing sites, which led the brokerage to one conclusion - it needed simplicity and ease of use. "Over the years, we've seen in the active trading category the advent of many new tools, with professional trading tools brought down to the consumer level," says Rich
Pipeline ATS Shuts Off Access to Broker Algorithms
Pipeline Trading Systems LLC is cutting off access to third-party broker algorithms that are sending orders into the electronic block trading system it operates, according to an e-mail sent to clients this morning. The change in policy is effective next weekend, says the e-mail, which was sent to both buy- and sell-side clients.
In an interview on Monday with Wall Street & Technology, Fred Federspiel, president of Pipeline, says t
Symons Reaps Benefits of Market Downturn
Many firms were affected by the market downturn on Tuesday, Feb. 27 - some negatively and some positively. Symons Capital Management was able to turn the chaos into an opportunity by dipping into its cash reserves and getting good prices as the market was going down.