The Technology Council, a group of investment managers formed to research investment-related systems, announced several research topics to be presented in January. The topics include portfolio management and accounting systems, performance measurement and attribution systems and investment datawarehouses. Member firms of the Council, formed by Cutter Associates consulting firm, include Banc One Investment Management, Bankers Trust Global Investment Management, Chase Global Asset Management, Deutsche Bank, Frank Russell company, Goldman Sachs Asset Management, Merrill Lynch Asset Management and several others. The research reports will be distributed to over 30 major investment firms.
Recent research by the Gartner Group found that by the year 2004, more than 60 percent of all enterprises will adopt Java applications and technology. The research also shows that financial services industries currently account for more than one-third of Java technology, with the number continuing to grow through 2004. The financial industry's use of Java is attributed to the rise in self-service applications, which make up 67 percent of Java systems according to the research. Other industries following finance in current Java technology implementations are higher education, accounting for 19 percent and retail/distribution accounting for 11 percent.
Cisco Systems announced the acquisition of Burlington, Mass.-based WebLine Communications, a provider of customer interaction management software for Internet customer service and e-commerce. Cisco has agreed to pay $325 million in common stock for the acquisition of WebLine, which is expected to be completed by the second quarter of next year. WebLine provides Web collaboration technology, which allows agents to collaborate live with customers, and Email management tools for electronic customer contact, both of which will be important in the development of Cisco's Distributed Call Center. WebLine will be integrated with Cisco facilities in Chelmsford, MA and will become a part of Cisco's Applications Technology Group.
The Wall Street Journal Interactive Edition will now cover after-hours nightly trading results from MarketXT, the after-hours alternative trading system devoted to individual investors. The Interactive Edition provides online investors with stock quotes and chart abilities, business and financial background reports on companies, and the ability to track customized investment data. MarketXT is an extended-hours marketplace for individual investors.