News & Commentary
Content posted in December 2009
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Regulators Take Aim at Dark Pools
News  |  12/23/2009  | 
As the SEC looks to improve market transparency, dark pools have come under renewed fire. Three regulatory proposals have raised buy-side opposition.
Pricing Partners Incorporates the Portfolio Function Into Price-It Library
News  |  12/23/2009  | 
Designed for all major assets like interest rates, equity, inflation, credit, foreign exchange, commodities, and life insurance to hybrid products, Price-it comes either as a software tools or an internet platform.
Evaluating Outsourcing Options
News  |  12/23/2009  | 
The technology and capabilities of outsourced portfolio management systems offer functionality that is comparable to their installed counterparts. But not all outsourced solutions are created equal.
What Is the Middle-Office Role in Data Management?
News  |  12/23/2009  | 
Firms' middle offices must validate data in near real time before it is sent downstream.
12.22 Lack of Liquidity, Transparency Top Trading Concerns
12.22 Lack of Liquidity, Transparency Top Trading Concerns
Wall Street & Technology Videos  |  12/22/2009  | 
TABB Group's latest annual Institutional Equity Trading Report finds that lack of transparency and liquidity fragmentation continue to stir concern in the trading community, says Larry Tabb, CEO and founder of TABB Group.
Dubai Financial Markets To Buy Rival Nasdaq Dubai
News  |  12/22/2009  | 
In an effort to cut costs in the wake of Dubai’s ongoing debt crisis, back office functions will merge, but exchanges will remain separate.
SunGard Releases New VPM Portfolio Accounting Solution For Hedge Funds
News  |  12/22/2009  | 
SunGard's VPM version 9.0 provides hedge funds with an enterprise-level portfolio accounting application that is built on a service-oriented architecture for plug-and-play integration with a firm's existing applications.
FBI Investigates $10 million Citigroup Hack
News  |  12/22/2009  | 
It is not yet known whether thieves gained access to Citibank's systems directly or through third parties, according to the Wall Street Journal.
Potential and Unintended Consequences of the Financial Transaction Tax
Commentary  |  12/21/2009  | 
The FTT may create natural incentives for financial services companies to move overseas, just as their manufacturing brethren has done over the past two decades.
Congress Stirs Debate As It Considers Tax On Financial Transactions
News  |  12/21/2009  | 
Congress is considering a tax on financial transactions that takes targets Wall Street with the aim of providing relief to Main Street. But Wall Street says the tax could end up hitting some pension funds and regular investors.
LSE Takes Control Of Rival Trading Platform Turquoise
News  |  12/21/2009  | 
Turquoise was set up four years ago by Merrill Lynch, Goldman Sachs, Deutsche Bank, Citigroup, Credit Suisse, Morgan Stanley and UBS.
LSE Takes Control Of Rival Trading Platform Turquoise
News  |  12/21/2009  | 
Turquoise was set up four years ago by Merrill Lynch, Goldman Sachs, Deutsche Bank, Citigroup, Credit Suisse, Morgan Stanley and UBS.
Deutsche Borse Uses Corvil for Latency Transparency
News  |  12/21/2009  | 
Corvil to Provide Latency Distribution Statistics and Member Latency Ranking
Deutsche Borse Systems Deploys Corvil's Precision Latency Monitoring Service
News  |  12/21/2009  | 
Deutsche Borse becomes the first exchange to provide latency distribution statistics and member latency ranking.
Dark Pools, Derivatives and HFT Top Buy Side's Regulatory Agenda
Commentary  |  12/18/2009  | 
Buy-side traders oppose regulations that hinder high-frequency trading and reduce liquidity in dark pools, but they welcome heightened oversight of derivatives.
Rolling Stone's Matt Taibi Explains Wall Street to Steven Colbert
News  |  12/18/2009  | 
Taibi explains his critiques of Wall Street and Goldman Sachs to Steven Colbert on The Colbert Report.
China Businesswoman Sentenced To Death for $56m Investor Fraud
News  |  12/18/2009  | 
Wu Ying used the money for personal use and operating costs and to pay off loans, according to reports.
Optimism Fades Heading Into 2010
News  |  12/18/2009  | 
A new Wall Street Journal/NBC News poll tells that the economic crisis is taking its toll on the national psyche.
BATS To Compete with NYSE and Nasdaq for Listings
News  |  12/18/2009  | 
Kansas City exchange hopes to offer listings next summer, to attract small companies, exchange-traded funds and companies that don't meet the existing U.S. exchanges' standards.
TGIF: Holiday Songs, Gift-Wrapping Guide
News  |  12/18/2009  | 
Martin Short offers holiday advice in his song on David Letterman, Adam Sandler's Hanukkah classic, Jimmy Kimmel and Norah Jones celebrate 12 days of YouTube memories, Jimmy Fallon's guide to gift wrapping. Martin Short's Holiday Song on David Letterman With an unusual holiday message for all.
New SEC Rules for Financial Advisers
News  |  12/18/2009  | 
The SEC has announced new rules it hopes will prevent another Bernie Madoff-like scandal from happening again.
Deutsche Bank Completes Solar Power Project
News  |  12/17/2009  | 
Solar panels to generate 12% of the power consumed by the firm's Piscataway, N.J. office.
Sponsored Access: Where the Naked Need Not Apply
News  |  12/17/2009  | 
A new report from Aite Group defines the sponsored access market, provides estimates of sponsored access penetration of the U.S. equities market and includes predictions on potential regulatory changes and their possible impact.
Putnam Investments Survey Finds Americans Hopeful About 2010 Economy
News  |  12/17/2009  | 
Consumers make "saving more" their top New Year's resolution.
LCH.Clearnet Launches Interest-Rate Swaps Clearing Service for Buy-Side
News  |  12/17/2009  | 
Institutional investors with USD 146 trillion of additional notional value in interest rate swaps will fro the first time get access to SwapClear.
Is Moynihan the Right Choice for BofA's CEO Spot?
News  |  12/17/2009  | 
Edward Najarian, head of bank research, ISI Group, says that Brian Moynihan, Bank of America's new CEO, is the best choice (the bank could find) for the company.
Barclays' President Bob Diamond Talks Universal Banking
News  |  12/17/2009  | 
Barclays' President Bob Diamond talks with the Wall Street Journal's David Weidner about the relevancy of the the universal banking model.
Bank of America Names Brian Moynihan CEO
News  |  12/17/2009  | 
Bank of America has announced that Brian Moynihan will take over President and Chief Executive of the company on January 1 following the retirement of Ken Lewis.
Who Benefits from Citi's New Tax Break?
News  |  12/17/2009  | 
The IRS has extended favorable tax treatment worth billions to struggling banks like Citigroup that benefited from government bailout money.
Integral Offers Hosted Solution For FX Algorithmic Trading Firms
News  |  12/17/2009  | 
Co-located in data centers with FX Grid, Integral's global inter-institutional connectivity and trading network, the service virtually eliminates latency, according to the vendor.
New Book Takes a Broad Look at High Frequency Trading
News  |  12/17/2009  | 
As the high frequency trading topic continues to cause a stir on Wall Street and with regulators, a new book has been released to explore the topic further.
Chi-Tech Deploys 29West Messaging for MarketPrizm
News  |  12/17/2009  | 
Chi-X Global Technology (Chi-Tech) has selected messaging technology from 29West for the low-latency market data delivery infrastructure of its MarketPrizm service.
Interactive Data Adds Portfolio Analysis to PrimeTerminal
News  |  12/17/2009  | 
Interactive Data has added a range of portfolio analysis functionalities to its PrimeTerminal Professional financial desktop product.
Delaware Investments to Outsource Back Office to BNY Mellon
News  |  12/17/2009  | 
Extends long-term relationship with new investment accounting, performance and risk analytics and back-office services utilizing BNY Mellon's Eagle technology platform.
SEC Charges Former Employees of Global Firms in Serial Insider Trading Scheme
News  |  12/16/2009  | 
Executives exchanged illegal tips through coded text messages and yellow sticky notes.
Loopholes in OTC Derivatives Bill?
News  |  12/16/2009  | 
In a video, Tabb Group senior analyst Kevin McPartland discusses loopholes that still remain in the OTC derivatives market reform bill.
Trading Technologies and Mizuho Securities USA Expand Global Relationship
News  |  12/16/2009  | 
They will co-market Trading Technologies' high-speed X_TRADER order-entry software to Mizuho's existing and prospective global customer base.
Is Goldman Sachs' Ethos Changing?
News  |  12/16/2009  | 
There is a great New York Times article today that takes a look at the culture of Goldman Sachs, long held as the gold standard of financial firms on Wall Street.
Nomura Sheds Light on Dark Pool MTF Registration
News  |  12/16/2009  | 
At a time when dark pool regulations here in the U.S. are being hotly debated, Nomura has decided to relaunch its NX dark pool as a multilateral trading facility (MTF) in Europe.
Chi-X Global Hires Steven Silberstein As CIO
News  |  12/16/2009  | 
Former Lehman executive will oversee technology used by the international operator of alternative trading venues.
Newedge Appoints John Fay as Head of Americas Region
News  |  12/16/2009  | 
Newedge Appoints John Fay as Head of Americas Region
Aligning Washington and Wall Street
Commentary  |  12/15/2009  | 
Wall Street and Washington are misaligned. If we want this country to continue to grow, this needs to be changed now.
Chatham Financial Supports Murphy Amendment in House Derivatives Bill
News  |  12/15/2009  | 
The Murphy amendment would limit the definition of "major swap participant" to firms doing a amount of speculative trading or posing a threat to the financial system.
RealTick Integrates Latest Deutsche Bank Algos, Futures Execution
News  |  12/15/2009  | 
RealTick has integrated Deutsche Bank’s latest suite of equity algorithms and futures execution capabilities.
BNY Mellon Asset Servicing Forms Outsourcing Group
News  |  12/15/2009  | 
Lou Maiuri, CEO and chairman of Eagle Investment Systems, becomes global head of outsourcing.
ConvergEx Expands ETF Execution Capabilities with Launch of Dedicated Desk
News  |  12/15/2009  | 
ConvergEx Expands ETF Execution Capabilities with Launch of Dedicated Desk
12.10.09 Derivatives Debate
12.10.09 Derivatives Debate
Wall Street & Technology Videos  |  12/14/2009  | 
As derivatives legislation is reviewed by the House, Larry Tabb, founder of the Tabb Group, ponders its implications.
Bank of America's Rosy 2010 Forecast Based on Strong Emerging Markets, Low Inflation
News  |  12/14/2009  | 
Despite the 10% unemployment and 3.9 million foreclosures in the U.S. this year, Bank of America Merrill Lynch's global research group are highly optimistic about economic growth for the U.S. and the world for the coming year, economists in the group said at a press conference today. These economists forecast global domestic product will grow 4.4% in 2010, led by China at 10%. Inflation will be low, U.S. equities will perform well, and t
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