News & Commentary
Content posted in October 2003
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News  |  10/30/2003  | 
The MONY Group has deployed an email archiving and instant messaging solution to meet regulatory compliance requirements. But the instant messaging component is not being turned on just yet.
Proposed Bank Merger Would Push Technology Envelope
News  |  10/30/2003  | 
The planned acquisition of FleetBoston by Bank of America would generate $1 billion in cost savings, with some of that money going into strategic investments.
ELECTRONIC-TRADING NEWSFLASHES
News  |  10/30/2003  | 
IADB goes live with trading system from Summit Systems; Schwab Capital Markets offers institutional research report; David Shpilberg joins TransactTool's Board of Directors.
MARKET-DATA NEWSFLASHES
News  |  10/30/2003  | 
MarketAxess offers syndicated-loan-indicative prices in the secondary market from JPMorgan; Jarvis Investment Management tosses Knowledge Technology Solutions for royalblue; Morley Fund Management gets investment information from CCBN.
RISK-MANAGEMENT NEWSFLASHES
News  |  10/30/2003  | 
Dresdner Kleinwort Wasserstein rolls out Tamesis Risk Informer; Bank of America picks SAS for anti-money laundering; Robeco Group goes live with Algo Asset Management.
INVESTMENT-TECHNOLOGY NEWSFLASHES
News  |  10/30/2003  | 
Australian firm QIC is implementing Charles River Investment Management System; Robeco Group implements the latest version of Algo Asset Management; WestLB Asset Management's extends licenses for OpenMessenger.
OPERATIONS NEWSFLASHES
News  |  10/30/2003  | 
EBA Clearing Company announced the introduction of a new participation status; globalcustody.net has grown its audience by 50 percent; The Clearing Corporation announced that its stockholders have approved its realignment.
STP - Stick a Fork in it, We're Done!
Commentary  |  10/27/2003  | 
I first heard of STP in 1996 when an old friend at Morgan Stanley called and asked about this thing called straight-through processing.
Grasso Goes, Reed is NYSE’s Quick Fix
News  |  10/27/2003  | 
Richard Grasso was recently ousted from his position as the chairman and chief executive of the NYSE.
A.G. Edwards Makes Parker CIO
News  |  10/27/2003  | 
John Parker will be leading the IT efforts at St. Louis-based brokerage firm A. G. Edwards.
Barclays Brings in Thwaites
News  |  10/27/2003  | 
Dominic Thwaites is the new kid on the Barclays Capital block.
A Fixed-Income Fix
News  |  10/27/2003  | 
The Fixed-Income Toolbox is the most recent solution to come out of The MathWorks
Fear Factor
Commentary  |  10/27/2003  | 
Factor3 to offer a name-checking tool with its PACMonitor product suite.
Guidance for the Field
Commentary  |  10/27/2003  | 
Career coaches come to the rescue in a new program from New York City-based AG Barrington.
http://www.informationweek.com/
News  |  10/27/2003  | 
Harvey Pitt has had plenty of experience with Wall Street's current word du jour: regulation.
Arthur Levitt Says There will Always Be Abuses
News  |  10/27/2003  | 
Arthur Levitt, chairman of the SEC from 1993 to 2000, is best known for leading the most pro-investor commission in history.
IT Challenge
Commentary  |  10/27/2003  | 
When it comes to instant messaging, firms must grapple with the fundamental question: Do you allow the deployment of multiple platforms or limit users to only one?
Making the Grade
Commentary  |  10/27/2003  | 
Executives from the financial-services industry recently discussed budgeting tactics at WS&T's STP conference in NYC.
Fair or Foul?
News  |  10/27/2003  | 
Industry allegations of market timing have mutual funds clamoring to get into the fair-valuation game.
Less Than A Penny For Your Thoughts?
News  |  10/27/2003  | 
As exchanges consider sub-penny minimum-price variations, the industry braces itself for more market data.
The Check’s In the Mail
Commentary  |  10/27/2003  | 
Financial-services firms are well advised to check their e-mail-retention policy against evolving regulations.
All I Want for Christmas ...
News  |  10/27/2003  | 
No longer satisfied with the hand-me-down technology of equities; fixed-income traders are getting order-management systems of their very own.
Finding a Needle in a Haystack
News  |  10/27/2003  | 
One of the main difficulties in complying with the U.S.A. Patriot Act is sifting through the huge amount of information firms process every day.
Tear Down This Wall!
News  |  10/27/2003  | 
Economic pressures have challenged sell-side firms to break down the information silos that exist across equities and fixed income. But silo busting may not work without dramatic organizational change.
BCP’s Balancing Act
News  |  10/27/2003  | 
Setting up a BCP plan is like buying insurance - everyone wants full coverage but not everyone can afford it.
The Customer Isn’t Always Right
News  |  10/27/2003  | 
Although the Office of Foreign Assets Control's list of suspected terrorists and hostile nations has grown to over 3,500, and the Patriot Act mandates securities firms check new accounts against it, only 1,000 brokerages have watch-list-screening solutions.
CIO Sign Off?
Commentary  |  10/27/2003  | 
Considering technology is critical to creating a valid picture of the companies well being, do you think a company's top technology officer will ever be included in the final sign off - ultimately sharing the liability with the CFO and CEO?
Buy Side Takes a Beating at Sibos
News  |  10/23/2003  | 
To the surprise of few, industry players made asset managers the pinatas of this year's Sibos in Singapore.
Is Offshoring The Major Reason For IT Unemployment?
News  |  10/23/2003  | 
Offshore outsourcing has had little impact on joblessness so far, but that could turn around in a big way soon.
ELECTRONIC-TRADING NEWFLASHES
News  |  10/23/2003  | 
The Australian Stock Exchange reveals usage of Radianz's global-financial extranet; CBOE reaches milestone in roll-out of Hybrid Trading System; Traiana Harmony goes live to streamline foreign-exchange trading.
MARKET-DATA NEWSFLASHES
News  |  10/23/2003  | 
Cantor Market Data and Tradition offer a combined U.S. Cash and Swaps product; IBM agrees to support RMDS on eServer systems running on Linux; National Financial distributes Reuters Plus to correspondent broker/dealer clients.
RISK-MANAGEMENT NEWSFLASHES
News  |  10/23/2003  | 
JPMorgan Treasury Service lands two customer wins for Horizon; HSBC partners with Accurate Software for operational risk; PeopleSoft and IBM join forces on enterprise risk-management solution for Basel II.
INVESTMENT-TECHNOLOGY NEWSFLASHES
News  |  10/23/2003  | 
Westcore Funds has signed onto FT Interactive Data's Fair Value Information Service; ING Investment Management's Sydney office will implement performance and analytics-attribution platform; AdvisorCentral aligns with Financial Research Corporation to offer research to financial advisers.
SIBOS NEWSFLASHES
News  |  10/23/2003  | 
Swift announces pricing reductions for users; Capco plans to migrate STP Bridge Transaction Flow Optimizers for Swift, Omgeo, and FIX to the Microsoft BizTalk Server 2004 platform; Omgeo researches obstacles to straight-through-processing adoption in Asia.
Legg Mason Signs Up with Thomson for Wealth Management
News  |  10/20/2003  | 
Broker Legg Mason Wood Walker inked a deal to use the Thomson One Advisor workstation for market data and wealth-management tools.
RISK-MANAGEMENT NEWSFLASHES
News  |  10/17/2003  | 
PRMIA taps Columbia University Professor to head committee; SciComp teams with TAF to speed up derivatives pricing models; iBoxx inks deal with RiskMetrics to develop U.S. dollar fixed-income prices and indices.
OPERATIONS NEWSFLASHES
News  |  10/17/2003  | 
Omgeo announces new member for its Board of Managers; Cross Border Exchange approved as Swift ETC service provider; Northern Trust named custodian for New Mexico State Board of Finance.
New Block Trading System To Prevent Information Leakage
News  |  10/17/2003  | 
A new electronic-trading system being tested by brokers and institutions claims it can prevent front running.
Market-Data Dilemmas Aired At Conference
News  |  10/17/2003  | 
Market-data execs talk about what's wrong in the industry and how to fix it at a recent conference in Washington, D.C.
MARKET-DATA NEWSFLASHES
News  |  10/17/2003  | 
Scottish Widows Investment Partnership brings in Reuters Fundamentals; TIAA-CREF has selected Fame Information Services' referencePoint.
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News  |  10/17/2003  | 
New study shows lack of integrated solutions at asset-management firms; MassMutual Asia Ltd. has opted to implement WealthSuite Mutual Funds; DST International's HiOrders to link to Liquidnet.
End-to-End Compliance Solutions: Strategy First
News  |  10/17/2003  | 
Before you implement the latest compliance solution, focus on a more important, immediate matter: Your own, clearly defined compliance strategy.
ELECTRONIC-TRADING NEWSFLASHES
News  |  10/17/2003  | 
FIX Protocol Ltd. issues RFP for certification program; Eurex subsidiary files anti-trust suit against the CBOT and CME; FIX City rolls out new indications of interest service.
All I Want for Christmas ...
News  |  10/9/2003  | 
No longer satisfied with the hand-me-down technology of equities; fixed-income traders are getting order-management systems of their very own.
Electronic-Trading Newsflashes
News  |  10/9/2003  | 
MSRB chooses Volante for trade reporting; Scottrade installs back-office and OMS; Financial Labs launches scientific approach to trading models; FIX Protocol Ltd. publishes implementation guide; BNY ranks among top five brokers in medium-cap stocks.
Market Data Newsflashes
News  |  10/9/2003  | 
RBS chooses Mighter Gissing for real-time market data; SectorNet enhances its equity market-data feeds; Fame releases ICE North American gas and power indices.
Risk-Management Newsflashes
News  |  10/9/2003  | 
Hedge fund goes live with FNX's SierraASP; Austrian Bank installs The Wall Street System treasury engine; Kroll Factual Data releases Patriot Act compliance products; SuperDerivatives taps trading veteran to head North American sales.
Investment Technology Newsflashes
News  |  10/9/2003  | 
HighMark Funds renews asset-management solutions with SEI Investments; Dutch asset manager opts for operations from SimCorp.; ABN Amro selects outsourcing services from BoNY.
Operations Newsflashes
News  |  10/9/2003  | 
Celent ranks reconciliation vendors; HelioGraph helps Deutsche's trades flow; Vitria invades Italy
Tech Rationalization: Less is More
News  |  10/6/2003  | 
"I pity the fool." While Mr. T never applied this saying toward financial technology, the words have never been more appropriate than when looking at managing the securities industry IT infrastructure.
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