BSTW NewsBriefs, Week of Aug. 16, 1999
STP IMPLEMENTATION
The Marco Consulting Group, a Chicago-based investment consulting firm, has chosen to implement Financial Models Company's (FMC) suite of portfolio management software. Marco, looking to streamline its front- to back-office processes, will rely on FMC products for portfolio accounting, electronic trade communication and settlement, automated reconciliation, performance measurement and attribution, client statement generation and pricing and corporate action data. The firm, which has been relying on a host of homegrown applications and manual processes, expects to go live by Oct. Marco services over 200 plan sponsors and trustees, worth in excess of $70 billion.
CUSTODIAN COMMUNICATION
Deutsche Bank Alex. Brown, Bankers Trust Private Banking, Merrill Lynch Investment Advisor Services and State Street Bank have joined the 46 custodians currently available on Advent Software's Advent Custodial Services. The service allows users of Rex, Advent's reconciliation management module, to connect to these custodians via the Internet to compare records, weed out and resolve exceptions and reconcile custodial statements.
INTERNET SECURITY
Finjan Software, a provider of Internet mobile code security, has joined Cisco Systems' new Security Associate Program as a charter member. The program features interoperability testing of vendor products so customers can easily deploy security solutions for Cisco-based networks. Finjan's SurfinGate mobile code security solution will enter validation testing with Cisco's PIX Firewall as part of the new program.
CONFERENCE
The Securities Industry Association (SIA) is holding "The Foundation for Decimilization" conference on Sept. 22 at the Marriott Marquis Hotel in New York City. The conference will focus on the plans to successfully convert from fractions to decimals. Compliance officers, information technology and business project managers, risk managers and trading room personnel will learn how the conversion will change the way they do business. SRI Consulting will present the enhanced results of a study originally commissioned by the SIA that assesses the impact of decimal trading on various message volumes. Representatives from the U.S. Government, the exchanges and the utilities will also be on-hand to discuss the project and its timeline, as well as requirements and testing schedules. For more information, check out the SIA's Web site (www.sia.com) or contact Mary Ann Batista at (212) 618-0592.
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