News & Commentary
Content posted in October 2006
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BNY ConvergEx Group Introduces Commission Management Solution
News  |  10/31/2006  | 
By Tim Clark, Wall Street & Technology Agency brokerage and investment technology solutions provider ConvergEx Group recently announced the launch of SHAREx, its solution for commission sharing arrangements for the investment management community. SHAREx is one of the key offerings of BNY, ConvergEx Group's commission management model, enabling clients to manage commissions more efficiently by consolidating broker research payments with
Lek Securities Battles NASD Over OATS Regulation
News  |  10/25/2006  | 
Ivy Schmerken, Wall Street & Technology
Lek Securities is taking the National Association of Securities Dealers (NASD) to court to counter charges that the broker-dealer did not submit trade information required for compliance with the Order Audit Trail System (OATS). The trial was scheduled to begin today. Lek is challenging the NASD charges on the basis that OATS is illegal and improperl
Interactive Brokers Offers Penny Priced Options
News  |  10/25/2006  | 
Interactive Brokers, the online broker located in Greenwich, Conn., began offering penny pricing in options today. IB cut the minimum price difference for U.S. listed options from a nickel to a penny. The broker is jumping the gun ahead of the rest of the U.S. options industry, but not for long. The Securities and Exchange Commission (SEC) mandated a penny pilot program beginning on Jan.
What if I Have Laryngitis?
News  |  10/25/2006  | 
Cory Levine, Wall Street & Technology RSA, the security company acquired earlier this year by mega-vendor EMC, announced yesterday its Adaptive Authentication for Phone service, which provides automated, risk-based caller authentication for telephone banking services. In addition to developing a risk score for phone-based transactions and taking appropri
Allianz Phones Homes
News  |  10/25/2006  | 
When a nearby oil pipe burst, Allianz Global Investors was glad to have MessageOne's crisis communication solution in place for business continuity.
The EDM Council Derives Data Management Plan of Action
News  |  10/25/2006  | 
By Tim Clark, Wall Street & Technology On the heels of a research project involving 60 industry representatives, The EDM Council has identified, categorized and analyzed the Enterprise Data Management (EDM) issues of most concern to its members.
National Bank of Slovakia Selects WallStreet Systems to Streamline Ops
News  |  10/25/2006  | 
By Tim Clark, Wall Street & Technology In an effort to better manage its front-, middle- and back-office banking functions, The National Bank of Slovakia (NBS) recently selected the Treasury TremaSuite 6.5 from Wall Street Systems.
Instinet and Credit Suisse to Access Each Other's Dark Pools
News  |  10/25/2006  | 
Ivy Schmerken, Wall Street & Technology Instinet and Credit Suisse's Advanced Execution Services (AES) unit have agreed to provide their clients with access to each other's dark liquidity pools, according to today's announcement. The partnership between the two brokers involves Credit Suisse's CrossFinder and Instinet's CBX and is intended to increase institutions' chances of executing
Westpeak Global Advisors Supports the New Crossing Networks Trend Toward Pooling Liquidity
News  |  10/24/2006  | 
Head trader Christopher Ebel thinks the new trend of OMSs and EMSs combining is beneficial to traders.
T. Rowe Price Is Concerned With Consolidation and Market Fragmentation
News  |  10/24/2006  | 
VP and head of equity trading Andy Brooks is astounded over the little regulation in the hedge funds market.
TIAA-CREF Deals With the Recent Development of Liquidity Fragmentation, Which Makes Traders' Jobs Harder
News  |  10/24/2006  | 
Senior Trader A.T. explains that traders have to understand the potential impact of an order in the market and how to mitigate the risks of exposing the order to the marketplace.
Technology Is at the Forefront of The Boston Company's Business Strategy
News  |  10/24/2006  | 
Head trader Dave Brooks explains that the integration of algorithmic trading, fragmented liquidity pools, the increase in dark pools and broker-sponsored ATSs will require the buy-side trader to seek out liquidity in disparate locations.
Russell Investments Keeps an Eye on Market Globalization and the NYSE's Bid for Euronext
News  |  10/24/2006  | 
Head of trading Jason Lenzo hopes to one day interact with the market without manipulating technology.
RiverSource Investments Implements Charles River Equity Trading and Compliance Solution
News  |  10/24/2006  | 
Head trader Don Fredell hopes to lower trading costs, make more-effective trading decisions and avoid risk with Charles River solution.
Putnam Investments Works to Compete in a Fragmented, More-Complex Market
News  |  10/24/2006  | 
Head of Global Equity Trading Richard Block thinks that linking order execution to commission systems will make his job easier.
Ohio Public Employees Retirement System Is Searching for a Highway to Liquidity
News  |  10/24/2006  | 
Trading manager Joan Stack wants more standardization and a way to centralize liquidity.
Northern Trust Global Investment Focuses on New Government Regulations and Electronic Technology
News  |  10/24/2006  | 
Kevin Connellan, director of equity trading, shares his concerns about the downsizing of the high-touch trading desk by sell-side partners.
Technologies That Help Control Order Flow and Direct Strategy Are Making Nicholas-Applegate Capital Management More Efficient
News  |  10/24/2006  | 
Among other things, Kevin Chapman, managing director and head of trading, longs for a technology that improves the pace of implementing trading strategies.
Lord, Abbett & Co.Customizes Algorithms for a Seamless Execution
News  |  10/24/2006  | 
Ted Oberhaus, partner and director of equity trading, believes technology will change the landscape and wants OMS providers to make their products much quicker.
ICM Asset Management Adjusts to Technological Innovations and Government Regulations
News  |  10/24/2006  | 
Head trader Tim Olsen is confident ICM Asset Management will overcome and adapt to market changes brought on by regulations and he would like to see a product that brings more liquidity to the marketplace.
General Motors Asset Management Wants Trading Data Readily Available to Take Quick Action if Necessary
News  |  10/24/2006  | 
Director of trading George Bodine predicts tighter trade integration going forward.
Five Mile Capital Partners Sees a Greater Electronic Marketplace in the Future
News  |  10/24/2006  | 
The electronic marketplace has allowed trader Martin Amann to use less brokers, and he anticipates more benefits to come.
First Quadrant Works to Be More Technically Savvy and Increase Its Control Over Trades
News  |  10/24/2006  | 
Nhan Bui eagerly awaits First Quadrant's new order management system and is interested in how the NYSE will work with Reg NMS.
Evergreen Investments Reacts to Reg NMS, Increased Trading Columes and Robust Technology
News  |  10/24/2006  | 
Bob O'Brien explains how Reg NMS is driving the market and changing structures, reviving exchanges and affecting broker consolidations.
Barclays Global Investors Is Working to Stay on Top of Market Trade Developments
News  |  10/24/2006  | 
Head trader Mike Sobel explains in which areas Barclays is spending resources and investing time, such as risk analysis.
Axa Rosenberg Is Working to Improving Its Proprietary Trading System
News  |  10/24/2006  | 
Cohead trader Floyd Coleman talks about taking advantage of technology and the traders of the future.
American Century Supports Reg NMS and Is Critical of Soft Dollars
News  |  10/24/2006  | 
VP and director of U.S. equity trading John Wheeler testified before the SEC during the Reg NMS hearings and believes efforts such as this will help make the markets more efficient for shareholders and traders.
Trading Candor
Commentary  |  10/24/2006  | 
Buy-side trading desks can seem a bit mysterious - even to other buy-side traders.
U.S. Bancorp Fund Services Deploys Mutual Fund Tool
News  |  10/24/2006  | 
By Tim Clark, Wall Street & Technology Eagle Investment Systems, a Mellon Financial Company, recently announced that U.S. Bancorp Fund Services (USBFS), a subsidiary of U.S. Bancorp, the 6th largest financial holding company in the United States, has selected Eagle STAR to support its mutual fund accounting and reporting needs.
Warning! Failure Is Imminent
News  |  10/24/2006  | 
In today's business environment strategy typically is executed through cross-functional projects, such as major product releases, strategic IT initiatives and substantial organization restructurings.
MiFID: Good or Bad?
News  |  10/24/2006  | 
Discord is brewing in the European Union (EU) over the perceived value of the forthcoming Markets in Financial Instruments Directive (MiFID).
Reeling In Global Networks
News  |  10/23/2006  | 
To address the complexities of network management in large enterprises, Insightix launched the Insightix Management Center.
EMC Improves ILM
News  |  10/23/2006  | 
EMC Corp. has released Infoscape, a platform designed to enable institutions to search all corporate information in file systems.
News  |  10/23/2006  | 
LexisNexis released its new customer relationship management solution, InterAction, along with an integrated client information subscription service called the Corporate Intelligence Subscription.
SOX Pitfall: IT Support
News  |  10/23/2006  | 
With the first round of Sarbanes-Oxley (SOX) reporting closed, U.S. businesses now are shifting their attention to the next round of hurdles.
Buy-Side OMSs Face the EMS Threat
News  |  10/23/2006  | 
Worried about the performance of their order management systems, buy-side traders are investigating execution management systems to gain an edge in faster equity markets.
Aleri Labs Attacks Throughput Claims With Low Latency
News  |  10/23/2006  | 
Ivy Schmerken, Wall Street & Technology Aleri Labs., a provider of event stream processing technology for the financial services industry, claims it has broken the sub-millisecond latency barrier for event stream data processing. The new performance standard is available through Aleri Streaming Platform, a high-performance application development platform that financial firms can use to analyze market data, process trades, monitor compliance
Industry Passes BCP Test, but Uncertainty Lingers
News  |  10/20/2006  | 
Cory Levine, Wall Street & Technology The securities industry underwent a simulated business continuity planning (BCP) test last Saturday, October 14 conducted by the Securities Industry Association, the Bond Market Association, the
Keeping Tabs
News  |  10/20/2006  | 
Password and Identity Management Strategies Begin to Take Shape
News  |  10/20/2006  | 
As financial services firms come to grips with the vulnerability of their IT systems, best practices around password and identityt management becomes a paramount concern.
Mathletes Cash In at UBS: TopCoder Member Ken Vogel Makes a Splash in Equities Development
News  |  10/20/2006  | 
Ken Vogel didn't join TopCoder looking for a job, but he got one when UBS evaluated his online competitive development success.
Adoption of Corporate Actions Standards Are Improving
News  |  10/20/2006  | 
Adoption of corporate actions standards is increasing, but data quality still is a concern, and automation remains elusive.
Compliance Handoff: Hiring a Full-Time CCO Is Proving Costly for Advisers and Funds, Which Are Now Outsourcing the Entire Compliance Department
News  |  10/20/2006  | 
As hiring a full-time CCO is proving costly, many small and mid-size firms now are outsourcing the entire compliance department.
MiFID Rules Break the Exchange Monopoly on Trade Reporting
News  |  10/20/2006  | 
A consortium of investment banks is building a trade data reporting and market data publishing platform to take advantage of MiFID.
E-mail Archiving for Five Bucks or Less
News  |  10/20/2006  | 
A hosted e-mail archiving solution tends to have a lower total cost of ownership than an in-house store, reports Black Diamond, Wash.-based Osterman Research in a white paper written for e-mail archiving vendor Fortiva that breaks down the costs of e-mail archiving.
Ask The Experts
Commentary  |  10/20/2006  | 
What are the risks and challenges of building and maintaining a captive application-development facility in the contemporary outsourcing environment?
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