Securities Industry News articles from April 2009

Securities Industry News archives from April 2009

A Sensible Approach to OTC Market Regulation.(Comment)
April 13, 2009... Byline: Lee Olesky CEO of Tradeweb Officials around the world are turning to regulatory reform to address systemic risk in the global financial markets. While this is a healthy and necessary step toward rebuilding confidence in the banking...

BNP Speeds Risk Calculations With Hardware Acceleration.(Wall Street Ramps Up Computing Power)
April 13, 2009... Byline: Chris Kentouris BNP Paribas, moving to bolster its computational power, has implemented a new technology platform designed to not only accelerate calculation times for complex equity derivatives but also slash energy consumption....

Allianz's U.S. Funds Leverage Shared Technology.(Case Study)
April 13, 2009... Byline: Chris Kentouris Seeking cost savings and operational efficiencies, Allianz Global Investors is unifying the technology platforms of three of its U.S. fund managers-Nicholas-Applegate Capital Management, Oppenheimer Capital...

Forget Virtualization, Try Compression.
April 13, 2009... Byline: Tom Steinert-Threlkeld Virtualization will drive Wall Street demand for Intel Corp.'s next-generation Xeon 5500 processors, according to Sean Mahoney, Intel's chief sales and marketing officer. Financial firms are striving to...

Reaching Out to Financial Firms, Microsoft Is Stressing Cost-Savings; Microsoft's financial services head points to products' cost-cutting benefits.(Technology)
April 13, 2009... Byline: Katherine Heires Microsoft Corp.'s financial services group says it is shifting its focus to better serve its customers, who have been battered by budgetary constraints, staff reductions and the specter of game-changing...

ISDA Implements CDS 'Big Bang'.(News Desk)
April 13, 2009... Byline: Editorial Staff More than 2,000 market participants have adopted a new auction settlement protocol designed to standardize payouts on corporate and sovereign credit default swaps (CDS), said the International Swaps & Derivatives...

CME Buys Hurricane Index.(News Desk)
April 13, 2009... Byline: Editorial Staff CME Group said last week that it has bought the Carvill Hurricane Index from defunct reinsurance broker Carvill America and tapped Eqecat, a provider of catastrophe risk management tools, to act as its calculation...

New ITG Algo Addresses Volatility.(News Desk)
April 13, 2009... Byline: Editorial Staff Investment Technology Group (ITG) has introduced a new algorithm, Raider, designed to let traders adjust their level of aggressiveness throughout the day. The New York-based agency brokerage says that unlike other...

People in the news.(News Desk)
April 13, 2009... Byline: Editorial Staff Bank of America Corp. has named Steven Niemczyk global head of asset management investment banking in its Merrill Lynch global corporate and investment banking unit, effective in June. Niemczyk, who held the same...

JP Morgan Rides Risk Focus Through Rocky Markets.(SPECIAL REPORT-Risk Management Technology)
April 13, 2009... Byline: Tom Groenfeldt Risk management is driven by tools and processes, says David Weisbrod, JP Morgan Chase & Co.'s SVP of risk management for treasury and securities services. In the case of JP Morgan, those technologies and procedures...

Hard Truths: SunGard's Rowe on the Failures Of Risk Management.(SPECIAL REPORT - Risk Management Technology)
April 13, 2009... Byline: Carol E. Curtis Technology may be a key component of sound risk management, but it needs to be applied in conjunction with sound judgment rather than as a substitute, says David Rowe, EVP of risk management at SunGard Data Systems....

E-Trade Turns to Agile Response Team for Rapid Risk Analysis.(SPECIAL REPORT - Risk Management Technology)
April 13, 2009... Byline: Tom Steinert-Threlkeld Online brokerage E-Trade Financial Corp. is looking to its home-loan division-which has ravaged its bottom line-as it attempts to build teams of technologists and business analysts to more rapidly assess and...

UBS Aims to Boost Processing Without Parallel Programming.(Wall Street Ramps Up Computing Power)
April 13, 2009... Byline: Tom Steinert-Threlkeld As computing requirements in the financial services industry outpace Moore's law, more than doubling every 18 months, many firms have turned to parallel programming to handle a growing number of transactions...

In Transatlantic Dispute, Fee Transparency May Suffer.(Comment)
April 27, 2009... Byline: Chris kentouris, Senior International Editor When the European Commission announced in January that it is investigating the Cusip Service Bureau (CSB) for possibly abusing its role as the issuer of ID codes for North American...

Could Trade Messages Help Unravel Madoff Fraud?(Messaging)
April 27, 2009... Byline: John Sandman As law enforcement agencies work to untangle the $65 billion Ponzi scheme operated by Bernard Madoff, the trading technology of his firm's broker-dealer arm could potentially offer a window into the fraudulent...

Investment Firms Avoid Merger With Operational Joint Venture.(News)
April 27, 2009... Byline: John Hintze In an attempt to build scale while retaining their independence, Roanoke Asset Management and Abner Herrman & Brock have formed a joint venture to share information technology infrastructure and cut operational...

IT Improvements Could Be Key to Hedge Funds' Survival; York Capital CTO details technology initiatives.(Q & A)
April 27, 2009... Byline: Chris Kentouris As scandals and shrinking assets take their toll on hedge funds, strong operational controls and technology will be key to survival, according to Gary Maier, chief technology officer of York Capital Management. ...

PHLX Veterans Plan New Venue In Crowded Options Market.(News)
April 27, 2009... Byline: John Hintze Several former Philadelphia Stock Exchange executives are planning to start an options exchange and have begun soliciting support from liquidity providers. According to sources with knowledge of the initiative,...

Metadata Initiative Drives Efficiencies at BMO Financial; Enterprisewide information policy produces operational, compliance benefits.(Case Study)
April 27, 2009... Byline: Chris Kentouris Reinventing its approach to data, BMO Financial Group five years ago launched an ongoing program to ensure that every unit of the firm understands the information it stores, where it is located and how to use it....

Baikal Names Technology Partners.(News Desk)
April 27, 2009... Byline: Editorial Staff The London Stock Exchange's (LSE) forthcoming pan-European trading platform, Baikal, last week said it is using trading technology provider Fidessa to develop its order management and smart-order routing systems....

Swift Looks to Ease Integration Pains.(News Desk)
April 27, 2009... Byline: Editorial Staff Swift has rolled out a tool designed to make it easier for firms to integrate their back-office systems with the messaging consortium's network. The software, called Alliance Integrator, is available as an add-on to...

People in the news.(News Desk)
April 27, 2009... Byline: Editorial Staff Knight Libertas, a fixed-income broker-dealer acquired by Jersey City, N.J.-based Knight Capital Group last year, has named John Price managing director and head of U.S. dollar bank capital securities. Previously,...

Keeping Control, Cutting Costs: Marathon Boosts Risk and Reporting.(Technology)
April 27, 2009... Byline: Chris Kentouris Marathon Asset Management, as part of a multiyear plan to expand its middle-office capabilities, has bolstered its homegrown portfolio management and reporting system to better handle growing volumes and product...

Securities Enforcement Cracks Down in Post-Madoff World; Ponzi scheme actions an indication of increased SEC activity.(Compliance)
April 27, 2009... Byline: Carol E. Curtis In the annals of Ponzi schemes, Shawn Merriman is small potatoes. But when the Securities and Exchange Commission announced April 8 that it had charged Merriman of Aurora, Colo. with fraudulently obtaining $17...

Goldman Builds Toward Asset Class Convergence.(Special ReportMulti-Asset Trading Technology)
April 27, 2009... Byline: Alexa Jaworski Over the last few years, buy-side firms have increasingly turned to multi-asset-class trading systems to save money and optimize their workflow. But such systems have become even more of a priority as firms' IT...