IBM Buys InfoDyne
Big Blue will connect InfoDyne's market data platform with WebSphere middle- and back-office processing technology
Want Your IT to Look Like Wachovia's? Call Tony Bishop
We checked in yesterday with former Wachovia IT wunderkind Tony Bishop, who led a three year IT re-architecture effort at the firm (you can read about some of his work here). Last fall, Bishop, then a Wachovia senior vice president, took 15 of his staff and left to start his own consulting firm, called Adaptivity.
A CEP Toolkit Just for Quant Researchers
Intrigued by Vhayu's announcement of a complex event processing tool geared toward quant researchers, yesterday I looked at this software. It gives quants a means to look for patterns, test ideas and strategies and run what-if scenarios against massive volumes of real-time and historical tick data. It combines some of the features of mathematical algorithmic modeling tools (such as Numerix and Algorithmics) with a fast historical and real-time tick database (a la Vhayu, Kx) with a front-end comp
Baby Boomers Prefer Paper Statements and Prospectuses
Aite Group recently asked a group of 505 U.S. baby boomers (251 pre-retirees and 254 recently retired) how they like to receive brokerage financial statements and prospectuses and to what extent they would like these to be paperless. Surprisingly, they're not as willing to forego paper as one might expect in these carbon-footprint-conscious times.
Morgan Stanley Stands Up At Salesforce Revival
Salesforce.com's Tour de Force event this morning was the closest I've ever come to attending a spiritual revival like the ones on TV. There was loud pop music, a charismatic and telegenic leader (CEO Marc Benioff) with a strong and clear if narrow-minded message (which is: utility or cloud computing is the future path for all business applications, preferably hosted on Salesforce.com's servers and software platform), dazzled audience members obediently yet enthusiastically nodding and clapping,
Outsourcing Losing Its Luster
Broker-dealers will be able to offer primary and multicustodial brokerage and direct-to-fund account opening from one system.
Can Wall Street Learn to Sustain Cost Reduction?
I had lunch with Bob Gach, global managing director capital markets at Accenture, last week. We chatted about a number of topics but one of the most interesting was Wall Street 's quest for sustainable cost reduction.
Opportunities Beckon Amid Economic Turmoil
A shaky economy and the defibrillation of many fixed-income products provide fertile ground for automated trading, fixed-income ECNs and exchanges -- as well as opportunities for those willing to take some calculated risk.
Network Accelerator Makes Ethernet Networks Infiniband-Like
If yours is like many Wall Street firms, you'd like to upgrade the one-gigabit Ethernet networks in your data centers to speed up applications, but you're not sure you want to make the leap to an exotic alternative like Infiniband or Fibre Channel. Startup company Teak Technologies offers a radically different idea: replace your end-of-row network switches with a layer of small, local switches that fit directly into racks or blades and, according to Teak, can accelerate an Ethernet network, save
Direct Market Access to Continue Steady Growth
Celent estimates that 15 percent to 18 percent of current U.S. equities flow goes through direct market access (DMA) pipes, a number that is expected to increase to 20 percent by 2010.
Financial Institutions Evaluate Biometrics
While financial institutions aren't yet ready for consumer-facing biometrics deployments, these technologies are gaining popularity for behind-the-scenes authentication.
Electronic Trading Drives FX Market Growth
While the eventual replacement of telephone and voice-based trading is a foregone conclusion, the industry conversion to electronic trading is happening even faster than expected. Research from CME Group predicts that by 2010 more than 80 percent of all cash business will be executed electronically.
Watching the Value of IT Assets
Companies are constantly acquiring, disposing of and moving physical IT assets, making it exceptionally difficult to keep an up-to-date record of the value of fixed assets. Assetware recommends conducting a physical audit.
Hedge Funds Say Technology Is Critical to Business
Hedge funds are focusing their technology efforts on improving automation around OTC derivatives, as well as adding collateral management technology and exerting better control over prime brokerage charges and rates, according to a new Aite survey.
The Philadelphia Stock Exchange
The Philadelphia Stock Exchange, created in 1790, was the first U.S. stock exchange. And in 1975, the exchange became the first regional exchange to trade equity options.
More Remedial Derivatives Technology Emerges
You know markets are suffering when the latest new features vendors tout for their products have to do with liquidation pricing. This morning, SuperDerivatives announced it will provide the liquidation price (or 'exit price') of all derivatives held within clients' portfolios. Under the terms of FAS 157, firms are required to define the exit price of all instruments to calculate fair market value or "...the price that would be received to sell an asset or paid to transfer a liability."
The Technology Challenges Ahead for the JPMorgan/Bear Stearns Merger
Now that JPMorgan has announced that Peter Cherasia, head of global technology and operations at Bear Stearns, will stay on to manage technology, operations and real estate worldwide for JPMorgan's investment bank, he and the other surviving IT managers have a job ahead of them to merge the technology and operations of the two behemoth firms.