News & Commentary
Content posted in July 2011
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NYSE Technologies Upgrades Data Fabric Middleware Platform
News  |  7/29/2011  | 
The latest version introduces Multiverb, a messaging transport to handle expanding volumes of data processed by mission critical apps.
Hedging a Government Default
News  |  7/29/2011  | 
The Digital Truth and the Future of the Asset Management Industry
Commentary  |  7/29/2011  | 
Asset managers must exploit the full potential of "digital truth" -- rapid, full information assembled by machines and systems with a minimum of human error.
Buy-Side Agency Brokers To Consolidate
News  |  7/28/2011  | 
Buy-side executives agree on most important factors in selecting an agency broker.
What Wall Street's Layoffs Mean for the Economic Recovery
Commentary  |  7/28/2011  | 
Perhaps the only thing that can make morale lower these days are actual GDP figures confirming what some economists already believe: that we're in the throes of a double dip recession.
Wall Street Slashes More Jobs, But It Didn’t Have To Turn Out This Way
Commentary  |  7/28/2011  | 
Credit Suisse and HSBC join the ranks of UBS, State Street and Goldman Sachs.
State Street Buys Slice of FX Options Platform Digital Vega
News  |  7/28/2011  | 
State Street, one of the world's largest institutional investors, announced it bought a minority stake in the FX options trading platform Digital Vega.
Hedge Fund Bigs Close Shop Ahead of New Regulation
Commentary  |  7/27/2011  | 
Hedge fund tycoons Stanley Druckenmiller, Carl Icahn, and George Soros have no interest in having their investment pools watched over by regulators or subjected to additional taxes.
Six Entrepreneurs Present Latest Fin Tech Innovations To Venture Capitalists
Commentary  |  7/27/2011  | 
WS&T saw a sneak preview of the latest innovations from some of the brightest financial technology firms.
TradingScreen's Clients Access eSpeed for U.S. Treasuries
News  |  7/27/2011  | 
EMS provider's clients get access to fixed-income trading system offered by BGC Partners, while deadline for raising the U.S. debt ceiling llooms.
Saxo Bank Takes 25 Percent Stake in Leverate
News  |  7/27/2011  | 
Acquisition allows bank to offer Leverate's automated trading solutions to retail and institutional customers, while giving Leverate access to Saxo's liquidity sources in forex.
10 Things Every Trader Needs to Know About the Changing Regulatory Landscape
News  |  7/26/2011  | 
The biggest change in more than 75 years is about to hit the buy side in the form of the Dodd-Frank Wall Street Reform Act. Here's what you need to know to prevent the new regulations from causing you trouble.
Financial Firms Support iPod, iPad and Android
Commentary  |  7/26/2011  | 
With the iPhone and iPad winning the popularity contest among consumers, while BlackBerry stumbles, financial services executives are apt to support multiple devices.
ING Investment Mgmt. Adopts Bloomberg's Research Mgmt. Platform
News  |  7/26/2011  | 
Sets up network for portfolio managers and buy-and sell-side analysts to share trade ideas.
Lobbyists Assume Control of Shaping Dodd-Frank
Commentary  |  7/26/2011  | 
Opponents of the Dodd-Frank bill lost a big battle when the law passed nearly a year ago, but they're apparently winning the war to shape the new regulations as they see fit.
A High-Frequency Tax: Paving the Way for a Fair Market, or a Roadblock to Efficiency?
News  |  7/26/2011  | 
As lawmakers and federal officials ponder fees for high-frequency traders in order to cover the steep cost of monitoring them, industry experts warn that an added tax could stifle the very segment that accounts for most of the nation’s equity volume.
Johnson Investment Counsel Pick Rapid Addition's FIX Engine
News  |  7/25/2011  | 
The wealth management firm will use the FIX engine to automate the flow of trades between an internal system and ITG's Triton EMS.
Defining the Future of Prop Trading
News  |  7/25/2011  | 
The sell side anxiously is awaiting clarification on the Volcker Rule. Meanwhile, how regulators distinguish proprietary trading from market making and hedging could dampen liquidity for the buy side.
Hedge Fund Third Avenue Capital Appoints Chief Risk Officer
News  |  7/25/2011  | 
New York hedge fund Third Avenue Capital announced the promotion of Thomas Gandolfo to chief risk officer.
The Vanishing Data Center
News  |  7/25/2011  | 
As cost-effective third-party data centers increasingly become liquidity hubs where exchanges house their matching engines and firms colocate their trading strategies to minimize latency, the traditional data center may be vanishing from the Street.
The Brave New World Of Banking Technology
Commentary  |  7/25/2011  | 
Increasing regulation will dampen profits, drive cost cutting and push banks into shared IT environments.
Will the Buy Side Colocate?
News  |  7/25/2011  | 
Among the criticisms of high frequency trading is the charge that colocating trading strategies in the same data centers as exchange matching engines gives HFT firms an unfair speed advantage.
The Small Revolution of the Data Center
News  |  7/22/2011  | 
In the never-ending search for more effective and more efficient ways to process their workloads, financial services firms are rethinking how -- and why -- they build data centers, turning traditional data center models on their heads.
Silicon Valley is Booming. What Can Other Industries Learn?
News  |  7/22/2011  | 
Silicon Valley financier Tim Draper discusses innovation, tech bubbles, technology globalization and more with Tom Brokaw.
BIDS Trading's ATS Surpasses 100 Million Shares
News  |  7/22/2011  | 
The dark pool reports a single-day trading record, following six months of growth when average daily volume was 68 million shares.
What the Mob Can Teach A Start-Up Hedge Fund
Commentary  |  7/21/2011  | 
Tips for hedge funds and wall street execs from an ex-Gambino mobster-turned-business consultant.
Hedge Funds to Chris Christie: "Just Run Baby!"
Commentary  |  7/21/2011  | 
Despite his repeated demurrals, New Jersey Governor Chris Christie continues to be the candidate of choice for many within the hedge fund industry.
ConvergEx Arranges Sale to Private Equity Firm
News  |  7/21/2011  | 
CVC Capital Partners will buy the stake held by GTC. ConvergEx sets aside plans for an I.P.O.
Our Summer of Discontent
Commentary  |  7/20/2011  | 
As the nation's political leaders continue their dangerous game of chicken over the debt ceiling, pink slips are being handed out everywhere from Wall Street to Main Street.
Agility And Security Top Concerns When Choosing Mobile App Development Tool
News  |  7/20/2011  | 
Survey also looked at which apps provided most value to companies.
CIO Sean Kelley Departing Deutsche Bank
News  |  7/20/2011  | 
Longtime CIO and cloud computing advocate is leaving Deutsche Bank.
Bank of America Merrill Lynch Unveils Next-Gen Trading Platform
News  |  7/20/2011  | 
The platform delivers sub 10-microseconds of wire-to-wire latency and provides an embedded series of risk controls required by recent SEC regulation.
Omega ATS Posts Higher Quarterly Volume as Rivals Struggle
News  |  7/20/2011  | 
Canadian alternative trading system Omega ATS announced that second quarter trading volume on its platform expanded 11.11 percent from the first, even as overall market volumes for equities fell 22.17 percent.
BofA Merrill Announces Ultra-Low Latency Platform
News  |  7/20/2011  | 
BofAML Express delivers sub 10-microseconds of wire-to-wire latency with pre-trade risk controls required by SEC rule.
BGC Partners Hires ICAP Executive to Run Market Data
News  |  7/20/2011  | 
Mark Benfield will head BGC Market Data from Asia Pacific, taking over for Bernie Weinstein, who will focus on Kleos and intellectual property.
How Not to Repair Your Damaged Brand: The BofA Edition
Commentary  |  7/19/2011  | 
On Tuesday news broke that the beleaguered bank sent $30,000 in social security payments to the wrong person
Principal Trading Groups to Make Markets for Interest Rate, Credit Default Swaps
News  |  7/19/2011  | 
Principal trading groups, firms that flourish in highly liquid and electronic markets, will become the new market makers for interest rate and credit default swaps once the new regulatory landscape is in place, a Tabb Group report contends.
Toughest Job In The Financial Industry?
Commentary  |  7/19/2011  | 
While many a financial executive might have quietly muttered their dislike of regulators, it has now emerged that these much maligned officials have had to deal with much more than a few grumbles.
Three Dealers Are Deadlocked in Fixed Income —Greenwich Study
News  |  7/19/2011  | 
Barclays Capital, Deutsche Bank and J.P. Morgan are tied with 11.5 percent share in insttiutional trading, followed by Goldman and Citi with 10 percent each.
Hirander Misra Resigns from Algo Technologies
News  |  7/19/2011  | 
Plans to focus on consulting for the short-term, related to market structure changes in Europe.
NASDAQ OMX Selects Cisco Technology for High Performance Options Trading Networks
News  |  7/18/2011  | 
NASDAQ OMX PHLX deployed the Cisco Nexus 5000 Series Switches and the Nexus 2000 Series Fabric Extender.
Lightspeed To Support Automated Execution Of Active Trading Strategies Generated By 'The Machine'
News  |  7/18/2011  | 
Developed by The Connors Group, The Machine is financial software that enables investors to build customized, quantified investment portfolios using more than 58,500 pre-set and back-tested strategies.
Worldflow Launches Research App for iPad and iPhone
News  |  7/18/2011  | 
The new app 'wRD Investor' delivers analysis and reports from three independent research firms.
MIK Fund Solutions Launches Equity Finance Application
News  |  7/18/2011  | 
Hedge funds and asset managers can reduce and optimize their stock borrow costs.
Buy-Side Unprepared for Dodd-Frank's OTC Swaps Rules - Survey
News  |  7/18/2011  | 
A majority of North American buy-side firms consider compliance with the Dodd-Frank finance reform bill to be among their top priorities, but most are unprepared for the new landscape, a survey by software provider SimCorp found.
Buy-Side Firms' Systems Not Prepared for Dodd-Frank, Says Study
News  |  7/18/2011  | 
A large majority of buy-side firms' systems are not prepared for compliance with the Dodd-Frank provisions for central clearing of OTC derivatives, according to a study from SimCorp.
Insider Trading Can Fly Under the Radar
Commentary  |  7/18/2011  | 
Hedge funds need to install monitoring systems to plug gaps in internal controls, says technology executive.
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