News & Commentary
Content posted in April 2004
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E-Trade Eases Funds Transfer
News  |  4/29/2004  | 
Online brokerage uses instant account verification software from Yodlee to make process simpler and in real time
Risk Newsflashes
News  |  4/29/2004  | 
Financial Insights forecasts 25 percent growth in spending on risk-data related products and regulatory initiatives; Algorthmics integrates Data Synapse's grid-computing software into Linux version of Algo Suite 4.4; SAS unveils credit-risk management solution.
Electronic Trading Newsflashes
News  |  4/29/2004  | 
Instinet Group reports $19 million in first quarter profits; Banc of America Securities signs R&D pact with Microsoft for trade-execution products; MB Trading to provide direct-access trading to GL Trade customers.
TradeBook’s Foley Joins eSpeed.
News  |  4/29/2004  | 
Kevin Foley, CEO of Bloomberg TradeBook, was named president of eSpeed.
Finding Value in an Ever-Efficient World
News  |  4/27/2004  | 
I recently attended a conference at which a presenter discussed a new view of operational management.
Newsmakers
News  |  4/27/2004  | 
Angstadt Promoted at Archipelago; JPMorgan Investor Services Appoints New CTO; DTCC Stresses Security with Carey; People on the Move
Product Watch
News  |  4/27/2004  | 
Ethics 101 for Advisers; A Black Box for Funds; On-the-Go Speakerphone
An Interview with Merrill Lynch’s John Killeen
News  |  4/27/2004  | 
Merrill Lynch's John Killeen has been under close scrutiny in the wealth-management industry ever since the sudden exit of his predecessor, Byron Vielehr.
http://www.informationweek.com/
News  |  4/27/2004  | 
The need to jam more computing power into less space has firms scrambling to manage their data centers.
More than Managing Names and Numbers
News  |  4/27/2004  | 
Successful CRM requires more than information. It requires tools to use that information effectively and add value to the customer relationship.
Credit Where Credit Is Due
News  |  4/27/2004  | 
After years of standing in the shadow of the sell side, Wall Street's buy-side firms are reaping rewards by realizing risk.
SEC Sets Back SOX
News  |  4/27/2004  | 
Sarbanes-Oxley deadlines are delayed, but firms find little solace in the regulation's extension.
Does Bloomberg Have What It Takes?
News  |  4/27/2004  | 
Portfolio managers say Bloomberg should be a bigger force in electronic bond trading. But can it compete against the dealer-owned systems?
Hedging the Risk of Instant Messaging
News  |  4/27/2004  | 
While hedge funds enjoy the simplicity of trading via IM networks, compliance and reliability concerns have them seeking IM products with built-in archival systems.
Integrating Disparate Databases
News  |  4/27/2004  | 
Prebon Yamane manages data globally with a little help from BEA and Sonic Software.
Integrating All That Data
News  |  4/27/2004  | 
To reduce the costs of processing trades - and eliminate errors - Swiss American is attacking data integration.
Integration: The Wheel That Makes STP Spin
News  |  4/27/2004  | 
Before firms can hope to achieve straight-through processing or one-day settlement of trades, they have to get their systems and data to speak to each other.
Offshore Outsourcing: Is Your Data Safe?
News  |  4/27/2004  | 
Financial-services firms are taking extra security measures at their offshore outsourcing facilities. Are security-related fears valid, or are they hype?
BCP Spending to Plateau
News  |  4/27/2004  | 
Although spending on business-continuity planning (BCP) in the securities industry rose considerably from 2001 to 2003, reaching $2.5 billion, a 57 percent increase, spending is expected to rise only marginally in 2005 and then decline in 2006, according to a recent TowerGroup report.
Performance Attribution: Future Trends
News  |  4/26/2004  | 
Performance attribution vendors are expected to make a slew of upgrades this year.
Reg NMS Hearing: Buy Side is Divided over Opt-Out
News  |  4/22/2004  | 
Buy-side institutions disagreed over the SEC's plans to revamp the trade-through rule. Vanguard rejects the opt-out clause, while Fidelity favors it.
Investment Technology Newsflashes
News  |  4/22/2004  | 
The Spaulding Group forms certification program for performance measurement; Great Companies goes live on Indata; Linedata launches Linedata Compliance.
Market data Newsflash
News  |  4/22/2004  | 
Moneyline Telerate Renames and Rebran
Operations Newsflashes
News  |  4/22/2004  | 
First French bank goes live on CLS; State Street Wins New Clients in Taiwan
Risk News flashes
News  |  4/22/2004  | 
Creditex will integrate Market-it Partners' data into its credit derivatives platform; Volteq Capital chooses Sophis Value for arbitrage hedge fund; Equalt selects SunGard's Reech derivatives pricing and analytics library.
Electronic-Trading Newsflashes
News  |  4/22/2004  | 
Five sell-side deploy BRASS's new IOI system; MarketAxess reports 160 percent increase in first quarter trading volume; Reuters to distribute MarketAxess Bond Ticker pricing service; BofA Securities launches Electronic Trading Alliance with LineData; Thomson to work with Belzberg to connect AutEx Network to Canadian brokers and equity markets.
Expansive Training Essential To AML Program Success
News  |  4/21/2004  | 
Just because you have the right technology in place to combat money laundering doesn't mean your AML program will be successful.
Security: Focus on Fundamentals
News  |  4/21/2004  | 
Jon Gossels, president of SystemEXPERTS, a security consulting firm, says his clients are getting back to basics.
Conflicting Priorities
News  |  4/21/2004  | 
Though it is well known that technology projects should be driven by business priorities, a new study by Framingham, Mass.-based Financial Insights finds that the buy side is having a tough time with this concept.
Fears Unfounded?
Commentary  |  4/21/2004  | 
With outsourcing on the rise in the financial-services industry, there has been widespread discussion about the security of sensitive data.
CSFB and Morgan Stanley Plug Algorithms into Charles River OMS
News  |  4/15/2004  | 
Two broker dealers are embedding their algorithmic-trading strategies into the Charles River order management system to make the buy-side trading-process more efficient.
A New Market Structure for Bonds?
News  |  4/15/2004  | 
A Partnership between ICAP/BrokerTec and MarketAxess could mean major changes in the way bonds are traded.
Market Data Newsflashes
News  |  4/15/2004  | 
Tick Data releases NYSE and TAQ database; Thomson Financial to acquire Starquote; TradeWeb acquired by Thomson Financial.
Investment-Management Technology Briefs
News  |  4/15/2004  | 
Advent releases new version of Moxy, and announces integration with SEI Investments; UBS Selects CheckFree Financial Messaging; Abbey goes live with BBH's Infomediary.
Risk Newsflashes
News  |  4/15/2004  | 
Belgian bank picks Accurate Software for operational risk; Mantas hires Sisolak to head anti-money laundering solutions.
Electronic Trading Newsflashes
News  |  4/15/2004  | 
Schwab to Launch Passive Indication Network for institutions; SIA issues guidelines for unexpected market closes; The Pipeline ATS is now available via TNS' FIX-based Secure Trading Extranet; Eze Castle deploys Portfolio Manager Console at client sites.
Data Management: Turning Challenges into Solutions
News  |  4/12/2004  | 
Data management is a complex challenge. When searching for a data management solution, what are you looking for? Among financial services firms, there is no universal problem-solution scenario.
Know Your Customer " Through Better Data Management
News  |  4/12/2004  | 
The converging influences of aging legacy systems, globalization, competition, internal cost pressures, the need to reduce settlement times, and a minefield of new regulatory requirements such as Basel II and Sarbanes-Oxley, are acting as key catalysts for a re-engineering of the back offices of investment and securities firms.
21 Years at the Front Line of Data Management.
News  |  4/12/2004  | 
2004 will be FAME's 21st year in the data management business, and our first as an operating unit of SunGard (NYSE: SDS).
Leveraging Data Quality to Manage Risk and Improve Business Performance
News  |  4/12/2004  | 
Leadership teams at organizations across industries are looking for a way to gain control over the accuracy and reliability of their data.
Improving Operational Efficiencies Through a Centralized Data-Management Approach
News  |  4/12/2004  | 
While it's no secret that the key to operational efficiency is streamlined data management, investment management companies continue to struggle with maintaining consistent and accurate data.
A Cautionary Tale for Data Users
News  |  4/12/2004  | 
Market data is coming under scrutiny in the battle against operational risk and compliance.
Investment-Management Technology Newsflashes
News  |  4/8/2004  | 
Diversified Investment Advisors selects statement solution; Interface offers new CRM modules FNX launches hedge-fund tool.
Market Data Newsflashes
News  |  4/8/2004  | 
Xcitek partners with Financial Information Network; Moneyline Telerate and Kalahari release Zero Coupon Yield Curve data service.
Making FIX Clear
News  |  4/8/2004  | 
The Options Clearing Corporation looks to enhance efficiency with the FIX messaging protocol.
Risk-Management Technology Newsflashes
News  |  4/8/2004  | 
Morgan Stanley to acquire Barra for $814 million; BearingPoint reports lack of data standards in risk management and compliance hampers growth; SunGard's Front Capital Systems acquires Derivatech.
Electronic Trading Newsflashes
News  |  4/8/2004  | 
Thomson to acquire TradeWeb for $515 million in cash and contingent payments; Linedata creates LongView ASP for smaller firms; SunGard/BRASS taps James Leman as president; ITG acquires direct-access player Radical Corp; NYFIX acquires network and opens data centers as part of European expansion.
The Need for Speed
News  |  4/6/2004  | 
Excerpts from The Tabb Group report: Pushing the Envelope: Redefining Real-time Transaction Processing in Financial Markets
Madoff Shifts from Proprietary FIX engine to Cameron Systems
News  |  4/1/2004  | 
Market-maker Bernard L. Madoff Investment Securities is replacing its home-grown FIX engine with an off-the-shelf system from Cameron Systems, signaling a coming wave of sell-side replacements.
ELECTRONIC TRADING NEWSFLASHES
News  |  4/1/2004  | 
GFI Group Picks Mighter Gissing multi-vendor platform for price distribution; Hauck & Aufhauser Banquiers selects Rolfe & Nolan's ASP-delivered processing solution; Firefly Capital signs up with Radianz for connectivity; LongView Trading to embed Autex in OMS.
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