Securities Industry News articles from December 2005

Securities Industry News archives from December 2005

Putting the E' in Fixed Income: In run-up to BMA event, an industry is coming of age.(Bond Market Association)
December 5, 2005... Joseph Sack is expecting a crowd on Wednesday, when the Bond Market Association (BMA) convenes its annual technology and electronic trading summit in New York. It's one of the major showcases of the year for BMA EVP Sack, who says attendance...

Fidelity's Winning Correspondent Clearing Formula.(Company Profile)
December 5, 2005... In the rapidly evolving world of correspondent clearing, Fidelity Investments has become a bona fide standout. The mutual fund giant's National Financial unit, with 379 clients, has edged out Bear Stearns for second place in the industry,...

Reward Where It's Due.
December 5, 2005... The Securities and Exchange Commission's recently proposed guidance on soft-dollar commissions could be at least a short-term boon to a cottage industry of commission management software vendors. It will be a $125 million business niche...

Compliance Comes In From the Cold.
December 5, 2005... The holiday season approaches and a spirit of goodwill pervades the air. At least that's the theory. But when it comes to the relationship between portfolio managers and compliance officers at many asset management firms, the festive season...

Fixed Income's STP Catch-up.(straight-through processing )
December 5, 2005... Five years ago, straight-through processing (STP) emerged as a shared objective throughout the equities industry as key market participants found it in their interest to automate the steps of trade processing from initial order to ultimate...

Reuters Broadens Financial IM Coverage.(instant messaging)
December 5, 2005... Reuters Group has launched Reuters Messaging (RM) 5.0, calling it the first professional instant messaging (IM) hosted service to connect the financial community in real time to both the Microsoft MSN Messenger and America Online Instant...

Cantor Gets Wireless Up To Speed.
December 5, 2005... Renewing its tradition of bringing new technologies to the fixed-income markets, New York-based Cantor Fitzgerald is offering real-time market data and analytics on BlackBerry handheld devices. The firm's Cantor Market Data subsidiary...

Investment Tools Vendor Eyes Emerging Markets.
December 5, 2005... The lack of corporate transparency that slows the maturation of many emerging-market countries provides an opening for AlphaTrade, a Vancouver, Canada-based provider of real-time financial data and analytical tools for investors. Take, for...

Hardware Glut, Regulation Complicate Backup Planning.
December 5, 2005... The September 11, 2001 terrorist attacks, the August 2003 blackout in the Northeast U.S. and the recent barrage of hurricanes in the South have made the procurement of backup operations centers a major preoccupation for the financial industry....

Agencies Revisit BCP, Privacy Requirements.(business continuity planning )
December 5, 2005... NASD is considering changes in its business continuity planning (BCP) requirements in the wake of Hurricane Katrina. The over-the-counter market self-regulator found it could not get in touch with designated emergency contacts at member firms...

TransactTools Takes FIX Concept Down-Market.
December 5, 2005... With FIX adoption by exchanges, bulge-bracket securities firms and institutional investors approaching the saturation point, TransactTools has released a product called Connectors to bring electronic trading connectivity to large numbers of...

ADP Hires Beta Systems Veteran Berenson.(Automatic Data Processing)(Paul Berenson)
December 5, 2005... Automatic Data Processing has moved to bolster its sales efforts in securities processing and outsourcing by hiring Paul Berenson, a well-regarded technology executive who has spent the majority of his 25-year career with Thomson Financial...

China Needs More Than a Few Good Accountants.
December 5, 2005... The frustratingly poor performance of China's financial markets has prompted calls for Western-style market regulation and infrastructure, not least the checks and balances that can be provided by a strong accounting component. Despite progress...

Hedge Fund Dilemma: Will the registration rule hold up, and what will it accomplish, anyway?
December 19, 2005... A funny thing happened on the way to the Feb. 1 deadline for hedge fund advisers to register with the Securities and Exchange Commission: On Dec. 9, appellate judge Harry Edwards told the SEC that it had overstretched its definition of hedge...

Mobility: Not Just for Traders Anymore.
December 19, 2005... Research in Motion (RIM), the Canadian company that manufactures the BlackBerry handheld device, is fighting a touch-and-go legal battle over U.S. patent rights, but there's no denying that it has already conquered the securities industry,...

A Final Falling Out.
December 19, 2005... After nearly five years of attempts to first converge their messaging standards and then achieve interoperability between them, FIX Protocol Ltd. (FPL) and Swift are essentially back where they started--with two distinct standards on either...

Holiday Cheer.
December 19, 2005... Revenue and profit records are breaking out all over Wall Street. Yet analysts following Bear Stearns Companies, Goldman Sachs Group and Lehman Brothers Holdings weren't exactly jumping for joy last week when those firms posted net revenue...

Start-up Focus: Hedge Fund Research.
December 19, 2005... Major vendors of financial systems--Advent Software and SunGard Data Systems, to name two--have spent years gearing up to sell into the burgeoning hedge fund industry, where the most lucrative buyers are big firms that have come to resemble...

Dundee Leeds Expands With Paladyne Tie-In.
December 19, 2005... Hedge fund administrator Dundee Leeds Management Services has tapped Paladyne Systems of New York to broaden its offerings as an application service provider (ASP) for alternative investment managers. Those services, aimed at attracting...

Regulators Coordinate Rulemaking on Short Sales.
December 19, 2005... The Securities and Exchange Commission is working with the New York Stock Exchange on updated "prime broker letter" guidance to delineate the responsibilities of prime and executing brokers in equity short sales and related trade fails that are...

GAO Sees Lack of Transparency in Terrorism Fight.(government accountability office)
December 19, 2005... The Government Accountability Office (GAO) has issued a harsh evaluation of the federal government's ability to track the sources of terrorist financing and coordinate technical assistance with enforcement agencies abroad. The...

Icap: Breaking From the IDB Pack.(Company Profile)
December 19, 2005... The world of interdealer brokerage (IDB) is compact, competitive and, in recent years, a cauldron of both consolidation and technological innovation. London-based Icap--previously known as Garban-Intercapital and deeply rooted in the...

Making the Most of Data: The Experts Speak.
December 19, 2005... Information--the client, counterparty and instrument details that are continually accumulated and stored in the securities industry's vast databases--is the bloodstream of the markets. It fuels portfolio strategy and transactional decisions,...

Singapore Exchange Outsourcing to Hewlett-Packard.
December 19, 2005... By the end of this year, the Singapore Exchange (SGX) will no longer be in the technology infrastructure business. SGX is turning over its data center and its entire information technology infrastructure to Hewlett-Packard Co. As part of the...