Could Lehman Bros have prevented latest fraud?
Lehman Bros has filed a lawsuit against Marubeni Corp., the Japanese trading giant, responsible for defrauding the New York-based investment bank out of US$352 million through a scam carried out by two rogue employees. Could it have stopped the fraud?
What You Don’t Know Will Hurt You
Each day investors wake up to more bad news in the financial markets. Worse yet, many thought their assets were safe, only to find out that the financial crisis is hurting even low-risk investments.
Mobile Apps Are Gaining Respect, Flexibility
Mobile applications and the people in charge of them are gaining more Street cred, according to Todd Christy, chief technology officer at Pyxis Mobile, a provider of wireless applications for the financial industry that counts Blackstone Group, Deutsche Asset Management and OppenheimerFunds among its customers. "Mobility is becoming a first class citizen in corporate America," he says. "We're seeing more chief wireless officers on Wall Street -- at least a half dozen firms have appointed someone
Clash of the Cultures
The announcement that JP Morgan would be bailing out Bear Stearns with a deal to purchase the company at $2 per share sent shockwaves across Wall Street last week.
Not Fundamental, but Not Technical Either
According to the commodity market fundamentals we were all accustomed to, traditional traders make buying and selling decisions based on what they figured to be a "fair" price for a given commodity.
Are Exchanges Converging with Dark Pools?
NYSE Arca is not the only exchange routing to dark liquidity pools. I spoke to a few industry sources and several immediately told me that this reminds them of Direct Edge,
Banks Seize Web 2.0 Opportunity
Joining the ranks of a growing number of financial institutions to increasingly focus on Web 2.0, Royal Bank of Canada (RBC) is targeting Facebook users by launching a financial advice blog that can be accessed through its fan page on the popular social networking site....
Poor CDO Pricing Brought Bear Stearns Down
What was the one fatal blow that caused Bear Stearns' suddden demise? Its inability to properly price collateralized debt obligations, according to a report issued by Financial Insights today.
Identity Fraud on the Decline
Despite the hype, identity fraud is on the decline, according to a new survey. But as fraudsters return to traditional channles, such as phone lines, to steal the trusting public's personal information, few financial instituions have implemented multifactor authentication for telephone banking.
Could Technology Have Saved Bear Stearns?
Although a full autopsy has yet to be performed on Bear Stearns, reason and common sense suggest that state-of-the art technology might have helped the firm circumvent some of its troubles. Here are a few examples.
Deutsche Bank Has Eye on Smart IT Spending
Facing a down market, Deutsche Bank is investing in technologies to improve efficiency, such as virtualization and SOA, without losing sight of the customer experience.
The Principal Saves Costs By Printing on Demand
The Principal Financial Group, a provider of retirement and investment services, life and health insurance and banking with $311.1 billion in assets under management, has turned to print on demand software to streamline and reduce costs in generating and printing 401(k) statements and marketing collateral.
Is Wall Street Ready for the iPhone?
Apple's announcement that it is now targeting its iPhone to business customers too with improved security and integration of e-mail, calendars and contact lists, has generally received positive reviews in the press. But is the financial industry ready to trade in their BlackBerrys and Treos for a more colorful iPhone?
Getting That Single Version of the Truth on Wall Street
After years of talking about it, Wall Street firms finally are creating unique customer IDs, integrating data sources enterprisewide and building the long-coveted single view of the customer. The result? Better customer and performance reports, streamlined audits, enhanced customer service and improved detection of new business opportunities.
Turquoise Hires Former LSE Compliance Manager Werner
Werner says Turquoise wants to set standards in terms of quality of technology and client service, as well as setting the bar for best practices in compliance, surveillance and adherence to regulatory guidance.
Rosenblatt Hires Kannan as CTO
Kannan says sourcing liquidity as new venues are launched and making them available to clients keeps Rosenblatt motivated.
NYFIX Hires BSE’s Richardson
Richardson, who is currently EVP at the BSE, will join NYFIX when Nasdaq's acquisition of the BSE is completed. In his new position, he will oversee management of the company's electronic execution products and services, including the Millennium ATS dark pool, and the soon to be launched Euro Millennium dark pool.
BioPassword Monitors Rhythm of Typing
Authentication provider adds improved monitoring and reporting capabilities to its authentication platform, which monitors the typing rhythm of users.