News & Commentary
Content posted in April 2009
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Latest Madoff Victim, Batman, Falls on Hard Times
News  |  4/30/2009  | 
Adam West, a.k.a. Batman, tries to recover from being Madoffed; a cat jumps in and out of a box. Batman Holds A Garage Sale How much would you pay for Bat Socks?
Vertica Adds Speed, Views to Analytic Database
News  |  4/30/2009  | 
The 3.0 version of Vertica's analytic database can load five terabytes of data per hour and offers different views of data to disparate user groups.
Is the Buy-Side Risk Function Losing Status?
News  |  4/30/2009  | 
A 2009 global survey of investment management risk carried out by SimCorp Strategy Lab revealed that the risk function has lost status in the reporting hierarchy.
Finnish Online Brokerage Invests in Application Monitoring
News  |  4/30/2009  | 
A complex environment and rapid growth necessitated the replacement of a homegrown application monitoring tool.
Fidelity International Joins EMX Message System
News  |  4/30/2009  | 
Fidelity International’s defined contributions pensions business is the lastest platform to join the EMX Message System.
Goldman Sachs clients to Use Orc’s Solutions
News  |  4/30/2009  | 
Orc Software has joined the Goldman Sachs Signature Program as a Signature Partner to provide high performance trading solutions to Goldman Sachs Electronic Trading clients.
Burgundy Picks TNS for Connectivity
News  |  4/30/2009  | 
Nordic MTF will rely on TNS's extranet to support the flow of orders and market data between the MTF and its trading participants.
Hedge Funds Expect Regulatory Hammer to Fall Within Six Months
News  |  4/29/2009  | 
The hedge fund community are scrambling to update technology to meet new regulations, which are expected within the next six months.
Coda Launches First Accounting Program to Run on Salesforce.com
News  |  4/29/2009  | 
Enterprise accounting software rewritten for the Force.com platform and available for $125 a month per user.
Interactive Data Introduces Options Volatility Service
News  |  4/29/2009  | 
New offering will combine pricing and reference data with analytics to help clients assess risks associated with U.S. market volatility.
SunGard Launches Commodity Suite
News  |  4/29/2009  | 
Energy traders can use Aligne to process energy financial and physical transactions across front-, middle- and back-office operations.
Bank of America, Merrill Lynch Integrate Electronic Trading Offerings
News  |  4/29/2009  | 
The merger of Bank of America and Merrill Lynch was officially completed the first of this year and both teams have been working to combine and consolidate their electronic trading offerings.
ISE Announces New Board Member
News  |  4/29/2009  | 
Michael T. Juneman has been elected to its Board of Directors, representing ISE's Primary Market Makers (PMMs).
MTFs and European Dark Pools Face Challenges
MTFs and European Dark Pools Face Challenges
Wall Street & Technology Videos  |  4/28/2009  | 
The market structure in Europe has quickly changed over the past few years with the burst of new Multilateral Trading Facilities (MTFs), which have caused tremendous fragmentation. Traders want to use the facilities, but without a ....
T3 Live.com: Prop Traders Go Virtual
News  |  4/28/2009  | 
Proprietary trading firm TM3 Capital launched an online trading community that reaches out to active traders and shares its positions with subscribers.
SEC Starts Tweeting In Effort To Revamp Image and Increase Transparency
News  |  4/28/2009  | 
The watchdog recently took a severe and prominent battering in the Bernard Madoff fraud case, which agents failed to stop despite the best efforts of whistleblower Harry Markopoulos.
Neuberger Berman Signs Up for Digital Realty Turn-Key Data Center
News  |  4/28/2009  | 
Asset management firm to move into one of Digital Realty's northeastern facilities.
Interactive Brokers Sees More Registered Reps Becoming Independent Advisors
News  |  4/28/2009  | 
As portfolio values decline, many large brokers have decided that servicing smaller balance client accounts is no longer profitable, according to the electronic market maker.
Was AIG's Fall Criminal?
News  |  4/28/2009  | 
CBS News is reporting that a Justice Department criminal investigation is trying to figure out just how AIG crumbled. Sources say investigators are digging into whether Joseph Cassano, the former head of London-based AIG Financial Products, and two of his top deputies -- Andrew Forster, an executive vice president, and Thomas Athan, a managing director -- committed securities fraud and other federal crimes.
optionsXpress Agrees to Acquire Optionetics
News  |  4/28/2009  | 
Acquisition of investment education firm will bring in thousands of potential optionsXpress customers, says online options and futures broker.
Cowen Augments its Portfolio Trading Division
News  |  4/28/2009  | 
Cowen Group has made five new hires to enhance its Portfolio Trading Division.
Extreme Makeover: Broker Workstation Edition
News  |  4/27/2009  | 
A quest for increased adviser productivity and a forthcoming cost-basis reporting law are driving wealth management technology integrations and upgrades at Canada's largest brokerage, RBC Dominion Securities, and U.S. advisory firm Silver Bridge as well as others.
Sungard Offers Hosted Wealth Workstation
News  |  4/27/2009  | 
On-demand, software-as-a-service version of WealthStation intended to help firms quickly upgrade broker desktops.
Algorithm Overload
News  |  4/27/2009  | 
As buy-side trading desks are challenged to navigate increasingly complex markets, algorithm providers are responding with streamlined offerings and liquidity-seeking strategies.
Wall Street’s Future: Specialized, Transparent, Less Profitable
News  |  4/27/2009  | 
An IBM study of 2,754 financial industry participants predicts that firms will seek efficiency improvements of 20%, become more transparent and excessively regulated, and make less money.
Orc Delivers Trading Solutions to Russian Firm
News  |  4/27/2009  | 
Maxwell Capital will deploy Orc Trader to provide links to the leading domestic markets: the Russian Trading System (RTS) / FORTS and the Moscow Interbank Currency Exchange (MICEX), as well as to international markets.
BT Signs OEM Agreement with Hitachi Com in Japan
News  |  4/27/2009  | 
BT Japan taps Hitachi to sell its trading systems and turrets in world's four largest market.
Morgan Stanley, Goldman Sachs Execs Named to DTCC Board
News  |  4/27/2009  | 
DTCC said that as it looks to grow its business in these "difficult economic times," it expects that the new board members' global executive experience will help provide insight and direction.
Citi Appoints McWhinney to Head Wealth Management
News  |  4/24/2009  | 
Former president of Schwab Institutional will oversee Citi's 600 bank-branch-based brokers.
Investors Await Bank Stress Tests
News  |  4/24/2009  | 
Crucial regional banks are expected to fail the Fed's "stress tests," reports CBS News' Priya David and investors are waiting for more details that will be release later today.
TGIF: The Apps on Darth Vader's iPhone
News  |  4/24/2009  | 
There's an app for everything, including galaxy domination.
HSBC Selects TradingScreen for SWX connectivity
News  |  4/24/2009  | 
HSBC Selects TradingScreen for SWX connectivity
Financial Firms Face Massive Market Data Infrastructure Challenges
News  |  4/23/2009  | 
If U.S. equities message volumes continue to grow at their current pace, they should average 1.2 billion messages per day by 2011, according to new Aite Group report.
Pipeline Acquires 3D Markets for Block Options Crossing
News  |  4/23/2009  | 
Pipeline expands into options asset class as usage grows among institutions.
BNY Mellon Adopts Solar Power
News  |  4/23/2009  | 
New 76-kilowatt solar panel array deployed at the BNY Mellon complex in Everett, Mass., to save $15,000 a year.
Liquidnet Rolls Out Million Share-Plus Block Trading Strategy
News  |  4/23/2009  | 
Average order sizes climbed to over 1.7 million shares, block trading venue reports.
BIDS Chief Mahoney Says Fragmentation Distorts Volume and Volatility
News  |  4/23/2009  | 
Today it's harder to rely on share volume as a stock-market indicator than it used to be, says Tim Mahoney, chief executive of BIDS Trading. Mahoney says we are witnessing a transformation in the marketplace as "the role of the market maker has moved from a person to a computer."
London Stock Exchange Lays Foundation for Baikal Dark Pool
News  |  4/22/2009  | 
Technology components, such as a smart order router from Fidessa, have been chosen; regulatory approval is eagerly awaited.
Skyler Releases Solution for Management of Multiple Market Data Sources
News  |  4/22/2009  | 
Solution targeted at firms that rely on more than one source of data for the pricing of the instruments they trade.
Sybase Reports Strong Quarter, Shares Database Roadmap
News  |  4/22/2009  | 
Company saw a 31% jump in enterprise database license revenue in the past year, plans to add time stamping and in-memory features to its IQ and ASE databases.
ITG Adds Dynamic IS to Algo Suite in Europe
News  |  4/22/2009  | 
The algo is designed for portfolio and quantitative traders who want to manage risk.
Investigators Open 20 TARP-Fraud Criminal Probes
News  |  4/22/2009  | 
Ever since taxpayer money was handed out to U.S. banks, the question has been "where did the money go?" TARP warns that one out of ten bailout dollars could be lost to fraud, amounting to possibly $100 billion or more.
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