News & Commentary
Content posted in July 2009
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TGIF: The Poetic Beauty of Palin's Tweets
News  |  7/31/2009  | 
Sarah Palin's Twitter tweets can be poetic, but only when read by The Captain, William Shatner. The Tonight Show's Conan O'Brien brings in Shatner to read Palin's tweets verbatim. The result is a strange free verse that Shatner takes to a new level.
Michael Lewis "Defends" Goldman; Spinal Tap Performs
News  |  7/31/2009  | 
Michael Lewis speaks for all of Goldman Sachs when he says, "America stands at a crossroads, and Goldman Sachs now owns both of them." And Spinal Tap makes an appearance on the Daily Show Michael Lewis Clears Up Misconceptions About Goldman In a Bloomberg article, Bashing Goldman Sachs Is Simply a Game for Fools, Liar's Poker author Michael L
Bloomberg Tradebook Gives Traders Auto-Pilot Mode
News  |  7/30/2009  | 
B-smart algorithm can now automatically decide whether orders should be placed aggressively, passively or reactively.
The Misconceptions Around Flash Orders
Commentary  |  7/30/2009  | 
BATS CEO Joe Ratterman points out that some of the recently hyped allegations surrounding flashed orders are unfounded, and allude to seemingly scandalous behavior.
Wall Street Pays Its Data Gurus Modestly, Survey Finds
News  |  7/30/2009  | 
Most data managers on Wall Street make $150,000 to $200,000, according to a survey by SIIA/FISD and LakeFrontData.
Savvis Expands NYC-Area Colocation Facility for Proximity Hosting
News  |  7/30/2009  | 
Hosting provider adds 105,00 square feet to respond to growing demand for proximity hosting and internet infrastructure services, along with low latency connectivity to major financial exchanges.
Ruth Madoff Faces Lawsuit From Picard to Recover $48 Million
News  |  7/30/2009  | 
Complaint charges that funds were transferred directly to Ruth Madoff from Bernard Madoff's securities business during the past six years or to companies that she was an investor in.
High Frequency Trading: Is It All Bad?
High Frequency Trading: Is It All Bad?
Wall Street & Technology Videos  |  7/29/2009  | 
There has been a lot of discussion in the media and in the industry about high frequency traders adversely impacting the market and other investors. Larry Tabb, TABB Group CEO weighs in on the pros and cons of high frequency trading, and discusses ..
Northern Trust Beefs Up Risk Monitoring
News  |  7/29/2009  | 
Lets clients keep a wary eye on credit, liquidity, concentration and regulatory risk.
Charles River Development Integrates Access to UBS Perimeter Algorithm
News  |  7/29/2009  | 
UBS Perimeter allows Charles River IMS clients to work orders in the market based on a variety of desired parameters and urgency levels.
Bloomberg Tradebook Enhances B-SMART
News  |  7/29/2009  | 
The enhancement -- B-SMART AUTO -- seeks to statistically do what a trader does - make an assessment of a stock's probable price path using a variety of inputs such as activity on the tape, volatility of the stock, bid/offer spread, as well as peer group and sector analysis.
KAS Bank Joins FxAll As New Liquidity Provider
News  |  7/29/2009  | 
European bank chooses FxAll to provide sophisticated strategies to client base of major pension funds and asset managers.
Clouds Won’t Cover Wall Street Until Compatibility Improves, Intel Exec Says
News  |  7/28/2009  | 
Internal clouds won't be truly feasible for Wall Street and other technology-intense industries until the vendor community provides interoperability, says Thomas M. Kilroy at Intel.
Senator Schumer Calls for Ban on "Flash Orders"
News  |  7/28/2009  | 
New York Senator Charles Schumer is weighing in on the use of flash orders by high frequency traders, and even asking the SEC to ban the practice.
ISITC Finalized New OTC Derivatives Market Practice
News  |  7/28/2009  | 
New standards to improve automated communications between investment managers and third parties.
Charles River Integrates Access to UBS Perimeter Algorithm
News  |  7/28/2009  | 
Charles River offers clients enhanced algorithmic trading strategies targeting US auctions, imbalances, and sessions outside regular market hours.
Calypso Integrates Financial Libraries to Offer Standard Fixed Income Analytics
News  |  7/28/2009  | 
Calypso Integrates Financial Libraries to Offer Standard Fixed Income Analytics
ISITC Finalizes New OTC Derivatives Practice
News  |  7/28/2009  | 
ISITC Finalizes New OTC Derivatives Practice
BofA/Merrill Rolls Out New Options Algorithms
News  |  7/28/2009  | 
Offering new sweeps and iceberging to institutional equity and options traders and broker dealers.
CME CEO Cautions CFTC on Position Limits for Energy Futures Trading
News  |  7/28/2009  | 
CME CEO Cautions CFTC On Position Limits for Energy Futures Trading
BondDesk Ventures into Market Data Business with Excel Interface
News  |  7/27/2009  | 
Draws on live Treasury prices from BondDesk ATS and TechHacker's library of add-in calcuations for Excel.
Microsoft's Capital Markets Partner Ecosystem
Microsoft's Capital Markets Partner Ecosystem
Wall Street & Technology Videos  |  7/27/2009  | 
It's mind-boggling to think about the challenges facing today's capital markets: Increased information and data volumes, continual and growing product complexity, subsecond decision making (on trades as well as risk). Firms have to manage all of this
Eurex Clearing Partners With Calypso For OTC Derivatives Central Clearing
News  |  7/27/2009  | 
Eurex's new OTC derivatives clearing service aims to improve market stability by enhancing transparency and regulatory reporting as well as reducing systemic risk.
Scottrade Builds Fat Pipe from Phoenix Data Center to St. Louis HQ
News  |  7/27/2009  | 
The online trading firm is working with Qwest to build long-distance MPLS connections to accelerate online trading, market research data delivery and overall operations performance.
Active Traders Remain Neutral or Bullish, Reports TraderPlanet.com
News  |  7/27/2009  | 
The social networking site's survey showed that 92 percent of traders and investors view current market opportunities as opportunity and not a threat.
Currensee Appoints David Lemont as CEO
News  |  7/27/2009  | 
CEO tapped to lead growth of forex trading social network.
Xtreme Data Debuts Fast Database for Analytics
News  |  7/26/2009  | 
Using its FPGA hardware accelerator chips to process SQL queries in hardware at thousands of rows per second, the dbX is said to give risk managers, algo traders, and quants looking for patterns in market data a way to get answers to questions more quickly.
The End Of Wall Street: Why It Happened
News  |  7/24/2009  | 
Chapter two of this WSJ series takes a look at what was going through the minds of CEOs, corporate boards, fund managers and mortgage lenders as they created hard-to-understand derivatives Warren Buffett once called "weapons of financial mass destruction."
TGIF: China Celebrates Status As World's Number One Air Polluter
News  |  7/24/2009  | 
Proud that its industries are growing fast and producing more greenhouse gases along the way, China partied today. Festivities included the 100 Widow Smog Dance, The Onion reports.
BofA’s Birnbaum Urges Wall Street to "Think Parallel"
News  |  7/23/2009  | 
Bank of America IT executive Jeffrey M. Birnbaum has been teaching high school students parallel programming. In his view, Wall Street should be thinking parallel, too.
OTC Derivatives: Schapiro’s New Regulatory Framework
OTC Derivatives: Schapiro’s New Regulatory Framework
Wall Street & Technology Videos  |  7/23/2009  | 
SEC Chair Mary Schapiro recently testified before Congress revealing a new regulatory framework for the OTC derivatives space. Larry Tabb, founder of TABB Group, offers his perspective on her new framework.
Iron Fist With Brass Knuckles Ruled Lehman Brothers
News  |  7/23/2009  | 
Lawrence G. McDonald, the author of "A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers," speaks to WSJ's Dennis Berman about what went wrong at the top of the firm.
Commodities Portal Shines Light Into OTC Derivatives Darkness
News  |  7/23/2009  | 
With the government pressing for more transparency into OTC derivatives, how could it be that energy participants are still hunting for information in the dark?
ICAP and FINCAD Launch Derivatives Valuation Solution
News  |  7/23/2009  | 
New solution addresses the need for increased transparency and better liquidity and counterparty risk management.
Equinix Expands Data Center Space in New York and Frankfurt
News  |  7/23/2009  | 
Increased demand from Wall Street firms driving colocation provider to add square footage in 10 markets.
ICE Lays Out Plans for Buy-Side Clearing of Credit Default Swaps
News  |  7/23/2009  | 
Solution will permit buy-side participation in ICE credit default swap clearing facility and provide segregation of customer funds and positions.
SIFMA Supports Single Systemic Regulator and Financial Services Oversight Council
News  |  7/22/2009  | 
SIFMA throws its support bending Obama Administration's plan to create a single, systemic risk supervisor and Financial Services Oversight Council.
Covestor Disrupts Wealth Management with New Multi-Managed Account
News  |  7/22/2009  | 
Retail investors replicate different models inside an MMA, with transparent access to their account.
BGC Partners Adds Precious Metals Desk In Expansion of Commodities Trading
News  |  7/22/2009  | 
Hires Bob Davis from BNP Paribas in London to manage forwards, interest rate swaps and EFP broking.
Green Century Mutual Fund Discloses Carbon Footprint
News  |  7/22/2009  | 
Claims the companies it invests in spew 66% less carbon dioxide than the rest of the S&P 500.
ICAP and FINCAD Launch Fair Value Insight
News  |  7/22/2009  | 
ICAP combines its market data with FINCAD's finanical analytics to create independent derivatives valuation service.
Brokerage Statement Leaders & Best Practices
News  |  7/21/2009  | 
As the markets and economy begin to recover, brokerage firms will need to do whatever they can to rebuild trust. The monthly statement is one tool they can use to accomplish this and employing some of these best practices is a good place to start. In this year's review, Merrill Lynch provided the most impressive overall statement for the third year in a row. It provides an excellent portfolio summary in a feature-rich document that includes all of a client's linked accounts in a concise format.
Algo Trading Surge Drives 2009 Equity Trading Volumes, Reports Greenwich Associates Study
News  |  7/21/2009  | 
Institutions returned to algorithmic trading after a chaotic period when strategies performed performly.
Citi Opens Operations Hub in Singapore
News  |  7/21/2009  | 
Energy-efficient hub, Citi's center for ops and technology in the Asia Pacific, accommodates 2,000 staff and serves Citi businesses across 40 countries.
Goldman Sachs Enhances Shortfall Model
News  |  7/20/2009  | 
The key changes are removing market capitalization buckets for the US equity model and the addition of ETF specific-calculations to the new model.
NYC IT Job Market Recovering, Pace University Says
News  |  7/20/2009  | 
This morning's report of an increase in Manhattan IT jobs is a sight for sore eyes.
Global Regulatory Pressure High, But Firms Are Not Well Prepared
News  |  7/20/2009  | 
Firms are contending with shrinking budgets and do not have fully automated compliance processes nor regularly trained compliance staff.
FTEN Expands Into Europe to Meet Demands for High-Frequency Trading
News  |  7/20/2009  | 
Hires Valerie Bannert-Thurner, formerly of Skyler, to spearhead European expansion.
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