News & Commentary
Content posted in November 1999
Northern Trust Chooses BARRA for Aggregate Risk Solution
News  |  11/22/1999  | 
Northern Trust Corp. has signed a contract for BARRA's TotalRisk for Asset Management system.
In Brief
News  |  11/22/1999  | 
Non-profit After-hours Trade Facility Proposed by NexTrade CEO
News  |  11/22/1999  | 
NexTrade CEO Mark Yegge addressed the issue of after-hours market fragmentation and proposed a new solution in the struggle toward opening the order books of ECNs.
SSB Preps for Decimals, Completes Trading Relocation
News  |  11/22/1999  | 
SSB has just completed the relocation of its Citicorp traders and is eyeing a migration to a single digital data distribution platform.
In Brief
News  |  11/22/1999  | 
SS&C Shoots for STP With XE Platform
News  |  11/22/1999  | 
SS&C Technologies has released a new platform that enables real-time linking between its Antares and CAMRA 2000 front- and back-office portfolio management systems.
Jefferies Takes 25% Stake in LIMITrader
News  |  11/22/1999  | 
Moving into the electronic bond trading world, Jefferies & Company has purchased a 25% stake in LIMITrader Securities.
ECN Execs Talk Shop at Roundtable
News  |  11/22/1999  | 
Panelists on last week's ECN roundtable offered their opinions on the future of ECNs, NYSE Rule 390 and the ITS system.
Waite & Assoc. Upgrades to I.M.S. for Windows
News  |  11/22/1999  | 
Los Angeles-based Waite & Associates has decided to upgrade to INDATA's front- to back-office suite of portfolio management systems, I.M.S. for Windows.
SunGard Portfolio Solutions' Problems Continue; Two Clients Leave For GIS
News  |  11/16/1999  | 
SunGard Portfolio Solutions continues to lose clients at an alarming rate despite efforts to change its image over the past year.
NYMEX Board Approves IT Revamp, Creates Fully Electronic Energy Market
News  |  11/16/1999  | 
The NYMEX has approved a strategy to overhaul its information technology division and is drawing closer to implementing a plan to demutualize.
In Brief
News  |  11/16/1999  | 
Buy Side Clamors for Centralized Information, More Price Discovery
News  |  11/16/1999  | 
Buy-side traders called for an electronic bond trading system with centralized information and greater price discovery at last week's Bond Market Association technology conference.
Buy Side Clamors for Centralized Information in Fixed-Income Trading
News  |  11/16/1999  | 
Buy-side traders called for an electronic bond trading system with centralized information and greater price discovery at a recent Bond Market Association conference.
J & W Seligman Chooses TradeWeb for Treasuries
News  |  11/16/1999  | 
J & W Seligman and Co. is moving into electronic bond trading with the TradeWeb multi-dealer system.
Optimark Hires New CTO, Looks to Increase in Volume
News  |  11/16/1999  | 
Optimark has hired Robert Warshaw as chief technology officer.
CBOE Puts Demutualization on Backburner
News  |  11/16/1999  | 
While it continues to work diligently to build an electronic trading system, the Chicago Board Options Exchange (CBOE) is taking a wait-and-see approach toward demutualization.
J.P. Morgan's CIO Leaves IT Helm
News  |  11/16/1999  | 
In step with the technology investment boom, Peter Miller, J.P. Morgan's chief information officer, has left the prestigious IT job to take on a new role that catapults him into the revenue-producing side of the business.
In Brief
News  |  11/16/1999  | 
In Brief
News  |  11/9/1999  | 
Pilgrim Baxter Taps Cutler for Web Site Maintenance and Upgrades
News  |  11/9/1999  | 
Pilgrim Baxter & Associates is outsourcing the maintenance and management of its Web site (PBHGFunds.com) to Cutler Systems Management.
Track Data Eyes Entrance into ECN Market
News  |  11/9/1999  | 
Track Securities Corp. has filed an application with the SEC and the NASD to form an individual investor oriented ECN.
NYFIX ATS Consortium Welcomes SG Cowen Securities
News  |  11/9/1999  | 
SG Cowen Securities Corp. last week joined a group of minority investors that have purchased stakes in the NYFIX Millennium ATS consortium.
In Brief
News  |  11/9/1999  | 
Brut to Self-Clear With SunGard's Phase3
News  |  11/9/1999  | 
The Brass Utility (Brut) ECN has selected to self-clear trades using the Phase3 System provided by SunGard Brokerage Systems.
Neuberger Berman Builds Real-time Web Front End for Managers, Clients to Come
News  |  11/9/1999  | 
Neuberger Berman is creating a browser-based portfolio management system for its internal money managers that updates accounts in real-time.
Schwab and CheckFree Develop Link For Investment Manager Clients
News  |  11/9/1999  | 
Schwab Institutional has created an electronic trading link to CheckFree Investment Services' APL and APL WRAP portfolio management systems.
CME Board Approves For-Profit Plan; Proposal Includes Open Outcry Protections
News  |  11/9/1999  | 
The Chicago Mercantile Exchange last week became the first U.S. exchange to approve a plan for demutualization.
In Brief
News  |  11/3/1999  | 
In Race to Snag the Active Trader, Schwab and Fidelity Upgrade Systems--But Still Need ECN Links
News  |  11/3/1999  | 
Charles Schwab & Co. continues to upgrade its new online trading product, Velocity, while going head-to-head with Fidelity Investment's newly launched Powerstreet Pro.
Strike and Brut Agree to Merge
News  |  11/3/1999  | 
After months of talks, Strike Technologies and the Brass Utility (Brut) have signed a letter of intent to merge.
In Brief
News  |  11/3/1999  | 
Risk Vendors Jump on the Buy-Side Bandwagon
News  |  11/3/1999  | 
According to a recent report by the TowerGroup, overall spending on risk management solutions is expected to grow 16% over the next five years.
Saratoga to Release New CRM System for Mutual Fund Managers
News  |  11/3/1999  | 
Saratoga Systems is beta testing a new CRM package, Avenue Mutual Fund, designed specifically for the mutual fund industry.
Internet-Based Exchanges in Japan and Europe on Nasdaq's Radar
News  |  11/3/1999  | 
The Nasdaq Stock Market last week unveiled plans to set up a European equity exchange that will eventually be electronically linked with both its established U.S. market and Nasdaq-Japan.
Omega Research Acquires Window On WallSteet
News  |  11/3/1999  | 
Omega Research has acquired Window On WallStreet and plans to leverage the partnership to deliver an integrated product to online traders.
Happening Upon a Wireless World
News  |  11/1/1999  | 
Brokerages push to wireless trading despite the varying devices and network protocols.
ECNs Mull Linking Order Books to Bolster After-hours Liquidity
News  |  11/1/1999  | 
ECNs are grappling with the best ways to boost liquidity, minimize volatility and at the same time, retain their competitive edge.
U.S. Online Brokers Think Global, Act Local
News  |  11/1/1999  | 
The top U.S. online brokerage firms are crossing the Atlantic to invade Europe while positioning their Web-sites for the Big Bang in Japan and the expected surge in Internet usage.
Crossing Networks Oust the Middleman in Europe
News  |  11/1/1999  | 
Three crossing networks have sprung up on the European continent allowing buy side fund managers to trade directly with each other. Two are owned by a consortium of financial institutions, signaling a trend toward for-profit trading systems.
Hearing Footsteps
News  |  11/1/1999  | 
A Degree in Electronic Trading?
News  |  11/1/1999  | 
Market Wise Stock Trading School is co-developing with McGraw Hill an online home study course that will teach non-professionals the basics of direct access execution.
On-site vs. the Internet
News  |  11/1/1999  | 
Are Internet traders equipped with cable modems disadvantaged when it comes to trading speed, access to market data, news services and online executions?
ECN Portals Serve Up A Menu of Appetizing Choices
News  |  11/1/1999  | 
Borrowing a recipe from the day trading industry, Wall Street firms are eyeing a couple of software companies that have married the Internet with direct,electronic access to ECNs.
BlueStone Launches Online Trading System
News  |  11/1/1999  | 
BlueStone Capital has launched Trade.com, a new online trading service geared toward high-net worth individuals.
Knight-Trimark's New Clearing Deal Spells International Expansion
News  |  11/1/1999  | 
Knight Trimark is plotting its next move into overseas markets with a new clearing relationship and investments in electronic equity and options exchanges.


Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.