Nicholas-Applegate Overhauls Trading Systems
Vendors largely have replaced in-house development as the source for mission-critical tools, according to Nicholas-Applegate Capital Management SVP and CTO Steve Rapp. For example, the firm has partnered with Latent Zero to overhaul its trading systems. Learn more about Nicholas-Applegate's technology transformation through Wall Street and Technology's exclusive interview with Steve Rapp.
Microsoft Buys Parlano, Will Add Group Chat Software to Communications Server
Yesterday, Microsoft announced its intent to buy Parlano, maker of the MindAlign group chat software that eases collaboration among far-flung team members and provides support for the specific needs of Wall Street firms, including Chinese walls and security features. MindAlign is used by Wall Street firms such as ABN Amro, Cantor Fitzgerald, Deutsche Bank, Nomura, Putnam Investments and UBS.
State Street Upgrades Mutual Fund Accounting Customer Interface
Last night we dropped by a California wine tasting sponsored by State Street and NetManage at the Gartner Financial Services Technology Summit at the Times Square Marriott Marquis. At the reception, Jim Dobbie, vice president of State Street, told us a bit about how his firm has webified the applications it provides its mutual fund administration clients.
Portware Opens Hong Kong Office
As overseas markets heat up, Portware announced it will open a Hong Kong office to support expansion in the Asia-pacific region and has appointed Damian Bierman head of Asian operations.
Until high-speed, low-latency technology becomes easier to acquire, install and integrate, there are going to be many disappointed vendors.
Dream Job: No Limits
Albridge Solutions expanded its Wealth Reporting portfolio accounting and performance reporting solution to include internal rate of return (IRR) and daily time-weighted rates of return calculations.
Data Message Rates
A surge in data message traffic is leading the industry to examine hardware acceleration to reduce data latency.
Mutual Funds Submit First XBRL-Formatted Reports to SEC
Today four mutual funds - the Allegiant Advantage Fund, American Funds' Europacific Growth Fund, the Muhlenkamp Fund and the Vanguard 500 Index Fund - submitted their first XBRL-formatted risk/return summaries to the SEC. This means they've converted these summaries of fund objectives, costs, and performance - the part of prospectuses investors are most interested in - from static data to interactive data that can be automatically read by software, by tagging data fields according to a
Cherecwich has 20 years experience in custody, operations and investment services at State Street, including four years as head of the firm's Japan operations.
Deliso Joins DTCC’s Wealth Management Services
Nicholas A. Deliso has joined The Depository Trust & Clearing Corp. (DTCC) as a senior relationship manager in the wealth management services area, where he will provide support to customers of DTCC's Managed Accounts Service.
Wall St. Opens It's Arms to Electronic 144A Marketplaces
This week has seen a flurry of activity in the development of electronic platforms for trading equity offerings by private companies that fall under a href=" https://en.wikipedia.org/wiki/Rule_144A" target="_blank">Rule 144A of the U.S. Securities Act. The rule allows for the private resale of securities between institutional investors, which gives private companies a means for raising capital without listing publicly.
Goldman Sachs to Buy Stake In DirectEdge ECN
Goldman Sachs Group agreed to purchase a minority equity stake in DirectEdge ECN, its parent Knight Capital Group announced today. Goldman will join Citadel Derivatives Group LLC, an affiliate of Citadel Investment Group, LLC, which purchased a minority equity interest in DirectEdge ECN in a transaction that closed on July 23, 2007.
Gold Book 2007: Alternative Investment Tech is Priority for John Galante, JP Morgan
John Galante, SVP and CTO for JPMorgan Worldwide Securities Services, says that as clients grow portfolios with derivatives and other alternative investments, JPMorgan is ready to meet their needs. Also, Galante says in this podcast he believes that having a steady flow of new recruits is vital for the company, as offerings and client needs expand.
Linedata, Goldman Offer Synchronized Blotter
Linedata Service's LongView order management system will soon include technology to synchronize its blotter with those of EMSs. The first co-development agreement was struck with Goldman Sachs' REDIPlus unit, which about 30% of Linedata's client base also uses, according to Gavin Little-Gill, senior vice president of product management, Linedata. Customers of both platforms will no longer need to manually transfer or upload data between their LongView and REDIPlus blotters, and can rest assured
T. Rowe Price Eyes Continued Growth in India, China
Consumer Web site enhancements aimed at keeping #1 Dalbar Ranking Online communites, such as Second Life, may present an opportunity Knowledge management expansion will continue to help improve customer experience
Too Soon To Call the Demise of Labor Arbitrage?
When Peter Harrison, chief executive officer of IT outsourcing firm GlobalLogic, read a story we ran last week hypothesizing that India labor costs no longer justify outsourcing to that country (The End of Labor Arbitrage), he disagreed. Always happy to hear a contrarian view, we spoke to him today about what he's observed while running a large operation in India. Among his points: India's la
Citi's New Global Execution Head to Focus on Consistency
Richard Evans has been promoted to head up Citi's global electronic execution business. In his new role, based in London, Evans will be charged with continuing Citi's drive to create consistent global electronic trading product offerings from agency program trading to transaction cost analysis, market data monetization and the Lava e-trading business.
Lime Brokerage Serves Up Low Latency Data to Brokers
Lime Brokerage, a direct-access agency broker located in the Tribeca section of New York City, recently began offering a service bureau model providing low-latency market data to other brokers dealers, according to George Hessler, EVP at Lime who heads sales and strategy.