News & Commentary
Content posted in December 2010
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Judge Dismisses Liquidnet Patent Infringement Lawsuit Against ITG
News  |  12/23/2010  | 
ITG maintained that Liquidnet's '834 patent was invalid and obtained by inequitable conduct due to failure to disclose the Harborside system.
The Buy Side Looks to the Cloud to Reign In 2011 IT Costs
News  |  12/23/2010  | 
The post-credit crisis freeze has begun to thaw across Wall Street but experts predict buy-side firms will still be a bit gun shy when the time comes to invest aggressively in their information technology infrastructures in 2011.
SEC Fines Hedge Fund for Self-Dealing
News  |  12/23/2010  | 
The fund has been ordered to pay $1.2 million for car-loan investments.
9 IT Priorities for 2011
News  |  12/22/2010  | 
The IT function will play a key role in Wall Street's efforts to grow and innovate while meeting emerging regulatory requirements.
2011 Hiring Trends for Wall Street
News  |  12/22/2010  | 
Wall Street shed thousands of jobs in 2009. But the outlook for restaffing in 2011 is limited, with a few specialties fairing better than others.
2011 to be a Defining Moment for Swap Execution Facilities
News  |  12/22/2010  | 
Industry players are jockeying for position to compete as Swap Execution Facilities (SEFs). But regulators are still writing the rules.
For Wall Street Firms, Cloud Computing to Gain Momentum in 2011
News  |  12/22/2010  | 
With computing power and data center efficiency more important than ever, Wall Street firms must optimize their resource allocation in order to maximize performance while minimizing cost.
Wall Street Firms Going Mobile in 2011
News  |  12/22/2010  | 
To thrive in today's ultracompetitive and economically uncertain market, Wall Street firms need to adapt to the desire of bankers, traders, advisers and clients to always be connected while on the go.
CFTC Appoints "Flash Crash" Expert As Chief Economist
News  |  12/22/2010  | 
The top U.S. futures regulator has tapped Dr. Andrei Kirilenko to advise it on dealing with high frequency and algorithmic trading.
Trading Desk Of The Future: The Rise Of the Robo-Trader
Trading Desk Of The Future: The Rise Of the Robo-Trader
Wall Street & Technology Videos  |  12/22/2010  | 
Will algos one day completely replace traders? Editor-at-large Ivy Schmerken talks to Tom South, IT Director, Northern Trust Global Investments about what the trading desk of the future could look like.
Social Media Site LinkedFA Launches New Features For Finance Professionals
News  |  12/22/2010  | 
Features include a public search function for finance executives and a People You May Know feature which introduces peers based on geography, company and network connections.
Bonus Blues: Meet the Zeros
Commentary  |  12/22/2010  | 
To boost profits and curb the risk-taking, some Wall Street firms are giving nothing but zeros to mid level traders and back-office staff.
Voltaire Inks Software Licensing Deal with IBM
News  |  12/22/2010  | 
The provider of scale-out computing fabrics for data centers stands to earn $17 million in licensing frees through 2012 from the IBM contract.
Blackstone Raises $15 Billion for Buyout Fund: Report
News  |  12/21/2010  | 
Blackstone is close to completing a $15 billion buyout fund, which would be its largest since the financial crisis, the Wall Street Journal reported, citing sources familiar with the matter.
Brady plc to Acquire Viz Risk Management
News  |  12/21/2010  | 
The deal will make Brady the largest European-provider of trading and risk solutions to the global commodity and European energy markets, the company says.
Fidelity Launches App For Android
News  |  12/20/2010  | 
With the new Android app, investors can access up-to-the-minute domestic and world market data, streaming news headlines, full news stories with graphical content, real-time quotes, interactive charting, and links to Fidelity's Twitter and Facebook pages.
Firm58 Provides Online Billing for CBOE Holdings' C2 Options Exchange
News  |  12/20/2010  | 
Firm58 will equip the new all-electronic exchange and its participants with online access to trade details and end-to-end billing information.
Trading Desk Of The Future: Advanced Stats Hit The NBA
Trading Desk Of The Future: Advanced Stats Hit The NBA
Wall Street & Technology Videos  |  12/20/2010  | 
Houston Rockets GM Daryl Morey talks to Advanced Trading associate editor Justin Grant about the NBA team's use of advanced analytical methods and technology to enhance decisions relating to the draft, trades and advance scouting of opponents.
Ernst & Young Subject to Fraud Lawsuit
Commentary  |  12/20/2010  | 
Nasdaq Fights Bank "Cartels" in Battle for Clearinghouse Control
Commentary  |  12/20/2010  | 
Nasdaq OMX Group is quietly working the back channels of the nation's capital to limit banks' "cartel-like control" of clearinghouses as Wall Street braces for final word on how the $600 trillion swaps market will function.
DTCC Launches Enhanced Cost Basis Reporting Service
News  |  12/20/2010  | 
The service acts as a central communications hub for transmitting cost basis information among broker/dealers, transfer agents, issuers, mutual funds and custodian banks.
How's Twitter Doing Today?
News  |  12/17/2010  | 
Derwint Capital Markets will use microblog site to predict the market's mood.
Apple To Launch New App Store Selling Programs For Laptops and Desktops
News  |  12/17/2010  | 
The store will work like iTunes, Apple's popular online store for smartphone applications, with programs likely to cost from $10 to thousands of dollars.
Research Management Solution Can Save Firms 40% On Labor Costs, Says Advent
News  |  12/17/2010  | 
Based on a survey of 360 portfolio managers, research directors and analysts, the study found that highly compensated professionals spend an inordinate amount of time searching and sifting for information that is already in their firms' possession.
UNX Partners With Liquidnet On New Block Trading Integration
News  |  12/16/2010  | 
Liquidnet is working with UNX's Catalyst EMS to create more real-time interaction with its block liquidity.
ConvergEx Agrees to Acquire RealTick from Barclays Capital
News  |  12/16/2010  | 
With EMS consolidation on the horizon, ConvergEx snatches up RealTick and looks to expand its multi-broker network globally.
Will Dodd-Frank Be DOA With GOP Congress? Don’t Bet on It
Commentary  |  12/16/2010  | 
Dodd-Frank, and particularly the Volcker Rule, are just as much alive as they day the Act was signed into law and we expect it will have some "teeth" in efforts to curtail systemic risk.
NASDAQ OMX To Acquire Risk Management Vendor FTEN
News  |  12/16/2010  | 
FTEN is well positioned to grow as the industry is becoming more focused on solutions for effectively managing risk, according to NASDAQ.
OTC Europe Deploys Orc For Emissions Trading
News  |  12/16/2010  | 
OTC Europe LLP, the European arm of interdealer broker OTC Global Holdings, announced it will use Orc Software for its over-the-counter carbon options trading operations.
Wedbush Securities Launches Colocated Execution Service For The Buy-Side
News  |  12/16/2010  | 
The colocated platform is designed to put the buy side on a level playing field with high frequency trading shops.
NASDAQ OMX to Acquire FTEN
News  |  12/16/2010  | 
The largest exchange company broadens its offerings into risk management
The Connors Group Releases The Machine Lite
News  |  12/15/2010  | 
The Machine Lite allows investment advisors to build customized portfolios of multiple strategies, including ETF strategies.
Gain Capital's IPO Raises $81 Million In Gross Proceeds
News  |  12/15/2010  | 
The online foreign exchange platform operator offered 9 million of common stock to the public today at $9 per share.
ELX Futures Partners with Advantage Futures for FCM Services
News  |  12/15/2010  | 
ELX inks new FCM relationship to boost its reputation as a competitive alternative in electronic futures trading.
Omega ATS to Offer Fixed Income Trading
News  |  12/15/2010  | 
Omega ATS, a high speed alternative trading platform for Canadian exchange-listed stocks, announced that it will now allow fixed income trading on the system.
Trading Desk Of The Future: How To Pick The Best OMS/EMS
Trading Desk Of The Future: How To Pick The Best OMS/EMS
Wall Street & Technology Videos  |  12/14/2010  | 
Changing your EMS or OMS is a daunting task. Larry Cohn, CIO, Baron Capital discusses with editor-at-large Ivy Schmerken when and why firms should make the change as well as the biggest pitfalls of picking an OMS or EMS.
I-Banking, Trading Push Wall Street Over the Top
Commentary  |  12/14/2010  | 
Just two years after the nation’s financial sector nearly fell off a cliff, only to be rescued by an unprecedented bailout, the industry’s titans have roared back.
Nomura and Instinet Enter into Liquidity Agreement For Hong Kong
News  |  12/14/2010  | 
Nomura is now receiving orders from Instinet that go directly into crossing network NX in Hong Kong.
BofA Merrill Global Research Hits the iPad
News  |  12/14/2010  | 
The research library app is aimed at institutional clients.
BATS, NYSE Euronext and Nasdaq Bid for Chi-X: Report
News  |  12/14/2010  | 
Chi-X Europe is apparently in strong demand these days, with BATS Global Markets, NYSE Euronext and Nasdaq OMX each bidding to acquire the pan-European trading platform, the Financial Times said.
Sky Road Offers Fincad Analytics on its Motion Platform
News  |  12/14/2010  | 
Users now have access to derivatives analytics.
ITG Acquires ESP's Settlement Aggregation Software
News  |  12/14/2010  | 
With acquisition, ITG boosts its offering of single ticket clearing for institutions doing algorithmic trading across multiple venues.
Hiring Rebounds In Wealth Management Industry
News  |  12/14/2010  | 
As firms focus more on product development and research, hiring activity around CIOs and CTOs increased.
Barclays Capital Names Bill White Head of Equities Electronic Trading
News  |  12/13/2010  | 
White was tapped for his success in growing Barclays Capital's DMM business on the NYSE as well as in building option trading platforms.
FXall Releases New 4.0 FX Trading Platform
News  |  12/13/2010  | 
The new 4.0 integrates sophisticated functionality and liquidity with acquisition of Citi's LavaFX.
Itau BBA Securites Goes Live With SunGard Valdi OMS
News  |  12/13/2010  | 
Brazilian broker will tap SunGard 's Valdi, Valdi OMS, Liquidity Services and GL Selector to manage execution, trading and risk from a single platform.
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