News & Commentary
Content posted in November 2001
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Archipelago and REDIBook To Merge
News  |  11/29/2001  | 
Archipelago and REDIBook said they intend to merge their matching systems.
Business Continuity Takes Center Stage at SIA Ops Conference
News  |  11/29/2001  | 
Business-continuity planning is on everyone's mind following the events of Sept.11. This year's SIA Operations Update Conference saw executives reflecting on lessons learned and planning for the future.
TruExchange Inks Derivatives Partnership Pact With Rolfe & Nolan, Eyes FCMs and Exchanges
News  |  11/29/2001  | 
Targeting FCMs and exchanges that need an STP derivatives trading solution, TruExchange has formed a partnership with Rolfe & Nolan.
Thomson Financial Releases First Call Analyst for Institutional Investors
News  |  11/29/2001  | 
First component of Thomson Dashboard suite will integrate proprietary content with Thomson Financial and third-party data.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/29/2001  | 
Fidelity Investments Institutional Brokerage Group announces launch of PracticeAdvantage; Macgregor announces that Batterymarch Financial Management, Inc. selects the Macgregor Financial Trading Platform to replace its existing OMS on its Domestic, International and Emerging Markets equity desks; The FIX Web site now has two new discussion forums for "solicitation".
OPERATIONS BRIEFS
News  |  11/29/2001  | 
The New York Clearing House announces initiative that will provide the first Internet-enabled global payments infrastructure needed to support B2B e-commerce; SunGard announces completion of full trade test scenarios with the GSTPA's TFM for U.S. and U.K. equity scenarios.
MARKET DATA BRIEFS
News  |  11/29/2001  | 
Yahoo! Finance site expands products and services with new features; Edward Jones selects INRANGE Technologies to implement business continuity and recovery plan; Reuters produces online demonstration utility for MDDL.
RISK MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/29/2001  | 
Pulse Software Systems adds BITA Plus Consultants' performance and risk attribution software components to Pulse Portfolio; Man Investment Products selects GlobeOp Financial Services to provide risk and data aggregation services for securities fund products; eRisk hosts online conference, "Selecting and Evaluating Credit Risk Models" Tuesday, December 11.
ELECTRONIC TRADING BRIEFS
News  |  11/21/2001  | 
Global Crossing signs deal to sell IPC Trading Systems for $360 million; SunGard Trading Systems names Jim Davis president of Global Markets unit; HKFE signs agreement to use networking platform by Radianz.
MARKET DATA BRIEFS
News  |  11/21/2001  | 
Standard & Poor's enhanced J.J. Kenny/Performance Index is available on three expanded websites; MFN is providing Knight Securities with advanced dark-fiber-telecommunications infrastructure and co-locations services; Schroder Investments migrated its core U.K. business system from disparate in-house systems to ASP-based system.
RISK MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/21/2001  | 
CFF selects SunGard's BancWare product for cross-currency; NumeriX and Summit Systems form strategic partnership to integrate Summit's transaction processing and valuations system with NumeriX's analytics engine; Gruppo Monte Paschi Asset Management implements Barra TotalRisk System to manage risk across firm.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/21/2001  | 
Linedata Services announces Bear Stearns Asset Management implemented LongView 2000 trade-order-management system in N.Y. headquarters; Candle Corporation and Javelin Technologies Inc. announce the signing of a strategic alliance; Cap Gemini Ernst & Young announce that Michael Blum and James S. Greene have joined as vice presidents in financial-services practice.
OPERATIONS BRIEFS
News  |  11/21/2001  | 
SunGard announces straight-through processing solutions have garnered five SWIFTReady labels for second consecutive year; JPMorgan announces trustees of ICI Pension Fund elected to reappoint JPMorgan Investor Services for a further three years.
GSTPA Selects Former Omgeo Board Member As New CEO
News  |  11/15/2001  | 
The Global Straight Through Processing Association has chosen one-time Omgeo Board member Jurgen Marziniak to serve as the utility's chief executive officer when it begins production on Jan.1, 2002.
JP Morgan Selects Actant's Aqtor Front End for its ISE Market Makers
News  |  11/15/2001  | 
Actant's Aqtor trading platform has been installed in support of a group of equity derivatives traders at JPMorgan.
DTCC Says T+1 Delay Allows For More Enhancements of CNS
News  |  11/15/2001  | 
The DTCC's COO says the SIA's T+1 delay will provide extra time to give its Continuous Net Settlement systems greater global capabilities.
Tamesis Releases Risk Informer For Consolidated View of Risk
News  |  11/15/2001  | 
Risk Informer targets traders and trading floor managers to gather risk information in near real time across disparate trade capture systems.
ELECTRONIC TRADING BRIEFS
News  |  11/15/2001  | 
Spectre Level4 Technology launches direct-access trading system; FXall signs deal with Heliograph; OM launches OneWorld Indications of Interest.
MARKET DATA
News  |  11/15/2001  | 
Dow Jones files lawsuit against Cantor Fitzgerald Securities to cancel liability for $48 million in annual royalty; Algorithmics and Standard &Poor's team up to integrate credit risk products and sell and market a combined solution; Kx Systems launches its kdb/tick platform.
RISK MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/15/2001  | 
JP Morgan Chase & Co. signs independent software vendor agreement with Versata; SunGard Trading and Risk Systems develops analytics service for measuring credit risk; United States Bankruptcy Court approves SunGard acquisition of Availability Solutions business of Comdisco.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/15/2001  | 
Morningstar, Inc announces Morningstar Advisor Workstation includes information on variable annuity/life subaccounts; Barclays Capital announces appointment of two managing directors to expand firm's Latin America debt-capital-markets capabilities; ADVISORport appoints Denis N. Houser as new senior vice president and national sales manager.
OPERATIONS BRIEFS
News  |  11/15/2001  | 
Wilco International announces the appointment of Tom Wooders to the position of sales executive, North America; ADP/OMR announces it has forms alliance Caledonian Bank & Trust Limited to provide offshore fund administration services; New York Clearing House and Euro Banking Association announce Memorandum of Understanding.
Rocky Markets Don't Stop Wireless Vendors From Moving Forward
News  |  11/15/2001  | 
Wireless vendor space is volatile and constantly changing, making a rocky ride for firms delivering solutions to investment community.
Rocky Markets Don't Stop Wireless Vendors From Moving Forward
News  |  11/14/2001  | 
Wireless vendor space is volatile and constantly changing, making a rocky ride for firms delivering solutions to investment community.
End Users in Action
News  |  11/14/2001  | 
Wireless spreads its wings in investment community.
Major Wireless Trends Impacting Securities Firms:
News  |  11/14/2001  | 
Wireless spreads beyond retail brokerage to institutional side of securities business; Professionals want trading capability and are going to extend it to institutional customers; Financial advisors want access to client information when in the field.
Wall Street Looks to Wireless Revolution for Cost Savings
News  |  11/14/2001  | 
Online brokers were the first in offering wireless trading devices to active traders.
Focusing on Efficiency
News  |  11/14/2001  | 
Economy and recent disaster forces efficiency back into spotlight.
And Then There Were Three: SunGard Joins Omgeo and the GSTPA
News  |  11/14/2001  | 
SunGard joins the GSTPA and Omgeo to become the third player in virtual matching.
Pension Fund Revamps Tech for STP
News  |  11/13/2001  | 
If your systems don't talk to each other, get new ones. How a pension fund revamped its technology for STP.
Reference Data Poses a Stumbling Block on Road to STP
News  |  11/13/2001  | 
Handling Reference Data: Reference data comes into the spotlight as research shows inconsistencies hinder STP progress. Read about how to better handle the static information.
SEC Rules Impose Data Collection and Reporting Burden
News  |  11/13/2001  | 
SEC disclosure rules put a data-collection burden on market makers and broker/dealers who must now report on execution quality and order routing.
Coming to America: NeoNet Eyes Indirect Passageway to Nasdaq, NYSE
News  |  11/13/2001  | 
Neonet eyes an indirect passageway to Nasdaq and the NYSE.
Buy Side: The Next Direct Access Frontier
News  |  11/13/2001  | 
Direct-access technology, once considered th exclusive playground of active day traders, is now weaving its way into buy-side institutions. But why has this next-generation stock trading software finally caught on at institutions, and will it ever become popular enough to pose a threat to large broker/dealers? WS&T takes an in-depth look at direct access' evolutionary path.
PHLX Eyes Remote Specialist System For Equities, Files Rule Changes with the SEC
News  |  11/8/2001  | 
The PHLX has asked the SEC for permission to launch an off-site specialist system that may boost its equities business.
Merrill Promotes Art Thomas, Makes Progress in Operations
News  |  11/8/2001  | 
Merrill Lynch looks to keep pace with a changing industry as it promotes Art Thomas to division chairman, hires Dovetail Systems for VMU connectivity and begins scripted testing with the GSTPA.
SunGard Teams Up With Actuate to Deliver Risk Reporting for Panorama KnowledgeFactory
News  |  11/8/2001  | 
SunGard Trading and Risk Systems partner with Actuate to offer Web-based reporting of risk and portfolio.
ELECTRONIC TRADING BRIEFS
News  |  11/8/2001  | 
Coba Technologies signs a networking pact with Radianz; Aurora Software expands the capabilities of WinFITS; ESignal launches real-time market data service.
MARKET DATA BRIEFS
News  |  11/8/2001  | 
HyperFeed establishes connectivity with MicroHedge; SmartServ Online provides its SmartServQ wireless short messaging service; Fimat Group selects Radianz to provide its customers with TIB data distribution services and TIB-based application hosting.
RISK MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/8/2001  | 
SunGard Trading and Risk Systems appoints Paul Murphy as president of SunGard Collateral and Steve Husk as president of Credient/Infinity; Tremont Advisors establishes a joint development relationship with RiskMetrics to develop Web-based risk reporting; Standard & Poor's forms strategic alliance with the Risk Data Bank of Japan Limited (RDB) to develop a scoring model for assessing the creditworthiness of SMEs.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/8/2001  | 
Financial Fusion Inc. announces Baring Asset Management licensed the Financial Fusion Server with GlobalFIX; Tremont Advisers, Inc., announces that it has established a joint development relationship with the RiskMetrics Group; SunGard Investment Management Systems announces that Hill Martin Asset Management Ltd (HML) has licensed PAL.
OPERATIONS BRIEFS
News  |  11/8/2001  | 
Canadian Capital Markets Association releases lists of proposed legal and regulatory amendments needed to benefit Canadian investors; SunGard eProcess Intelligence announces the availability of intelliTRAN for customer self-service; WebMethods, Inc. and Cap Gemini Ernst & Young announces that the companies will collaborate to build, market and sell.
BondBook's Backers Pull the Plug, Citing Lack of Critical Mass
News  |  11/1/2001  | 
BondBook LLC shutters its trading operations on Thursday.
ICE Promotes Marcial to CTO, Preps For Electronic Conversion of IPE
News  |  11/1/2001  | 
Moving forward with its plan to automate the floor-based IPE, the IntercontinentalExchange has named a new CTO.
EVault Releases Online Data Backup for Financial Services Firms
News  |  11/1/2001  | 
EVault Server allows firms with multiple locations to control data back up from central site.
Changes to MSCI Bring Tech of Transition Mgt. to Forefront
News  |  11/1/2001  | 
Morgan Stanley's widely mimicked index, Morgan Stanley Capital International, is changing its criteria, forcing thousands of money managers around the world to seek transition-management services.
ELECTRONIC TRADING BRIEFS
News  |  11/1/2001  | 
WestLB Global Financial Markets selects OpenLink's Endur system to support commodities trading desk in London; Interactive Brokers builds interface to the American Stock Exchange; The Frankfurt unveils its intention to merge with the Leipzig Power Exchange.
MARKET DATA BRIEFS
News  |  11/1/2001  | 
Reuters adds U.S. Treasury data from Cantor Fitzgerald including real-time prices for U.S. Treasury bench market and off-the-run issues; JP Morgan begins implementation of FITS, a market data management-consulting firm; Vestek Select adds 16 fund families to its program.
RISK MANAGEMENT BRIEFS
News  |  11/1/2001  | 
CIBC World Markets licenses EGAR Technologies' EGAR Dispersion tool; BITA Plus, releases a new returns based analysis service for fund managers; Decisioneering releases multimedia training CD to teach fundamentals of spreadsheet risk analysis and Monte Carlo simulation.
INVESTMENT MANAGEMENT TECHNOLOGY BRIEFS
News  |  11/1/2001  | 
QED Information Systems, Inc. announces that the West Virginia,Office of the State Treasurer selects QTMS for the purpose of Warrant (check) reconciliation; Thomson Financial announces Empire Financial Group's completion of its PORTIA implementation; Liquidnet says it traded its 500 millionth share yesterday.
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