Securities Industry News articles from February 2002

Securities Industry News archives from February 2002

Hefty Price for Clearstream Buyout.(Deutsche Borse approved for Clearstream International acquisition)(Brief Article)(Statistical Data Included)
February 4, 2002... The Deutsche Borse got the green light last Thursday from Cedel International's board to go ahead with its takeover bid for Clearstream International, but it cost the German exchange dearly. In its final offer, the exchange said it will pay...

Reborn Coredeal MTS Goes Live.(Brief Article)(Statistical Data Included)
February 4, 2002... Coredeal MTS, the rejuvenated eurobond trading platform formerly known as Coredeal, went live last Friday under a new ownership structure, listing nine benchmark corporate eurobond issues. Coredeal had been shut down in mid-October after...

Nasdaq Seeks QQQ; Amex Mulls IXIC ETF.(Brief Article)(Statistical Data Included)
February 4, 2002... Nasdaq Liffe Markets (NQLX) last week petitioned the Securities and Exchange Commission to be allowed to trade single-stock futures based on exchange-traded funds (ETFs), including the popular QQQ, the tracking stock for the Nasdaq-100 index,...

Self-Reliance: Nasdaq Europe moves tech development in-house.(Brief Article)
February 4, 2002... Nasdaq Europe is relying on its own internal technical expertise to develop its trading system for the European equivalent of the U.S.' SuperMontage that is due to be rolled out on the Continent later this year. "We're bringing more and...

AMF Sees Fixed-Income Gaps in SIA's T+1 Plans.(Asset Managers Forum)
February 4, 2002... The Asset Managers Forum, a buy-side trade group founded by the Bond Market Association, has identified fixed-income gaps in the Securities Industry Association Institutional Transaction Processing Committee's T+1 model, which in its current...

Firms Weigh Data Cleaning For STP, T+1.
February 4, 2002... For years, European banks have been using third-party vendors to clean reference data. Now, as the T+1 deadline looms, Wall Street firms are also starting to look to vendors to help them fix mistakes, fill in holes, and reconcile multiple data...

Warning! Poor Visibility Ahead.(securities industry forecast)
February 4, 2002... Not since the crash of 1929 has the securities trading industry lacked visibility as much as it does today. The field is overcrowded and yet new exchanges are emerging, competition is fierce, profits are shrinking and for some, consolidation...

FTIL Launches Integrated Derivatives System in India.(Financial Technologies India launches Derivatives Connect)(Brief Article)
February 4, 2002... Financial Technologies India Ltd. (FTIL), an exchange-trading platform and financial software vendor, has just launched Derivatives Connect-an integrated derivatives-trading platform in alliance with Microsoft, Intel and Compaq for India's...

Nasdaq Mulls Free Internalization on SuperMontage.(Brief Article)
February 4, 2002... The Nasdaq Stock Market is mulling allowing market participants to execute against their own orders for free on SuperMontage, its next-generation trading platform whose launch is set for early July. "We are considering letting people...

Swift Edgy After Global Crossing Files for Bankruptcy.(Brief Article)
February 4, 2002... Swift is evaluating "contingency plans" in the wake of the bankruptcy filing last week by its network service provider, Global Crossing, under Chapter 11. Global Crossing has vowed to emerge from the reorganization and continue to provide...

Moneyline Telerate Focuses on Bridge Integration.(Brief Article)
February 4, 2002... Moneyline Telerate, which acquired some of the assets of Bridge last fall, is developing a number of offerings, including an IP-based version of the Telerate Workstation, and an enhanced version of the BTRS digital data distribution platform,...

SmartStream Links to Omgeo for Reconciliation.(Brief Article)
February 4, 2002... Expanding its reach in the buy-side arena, SmartStream Technologies has struck a deal with Omgeo to interface its investment manager reconciliation software service to Omgeo's TradeHub. TradeHub, provided by the former Depository Trust &...

Progress is mixed for fpml vendors in search of users.(financial products markup language)
February 4, 2002... A year ago FpML.org, the industry consortium that has been developing the Financial products Markup Language, held its New York and London user symposiums, where the future of the standard was mapped out and the vendors who would support it...

Who Will decide future of fix-xml development?(Statistical Data Included)
February 4, 2002... Merrill Lynch's FIXML initiative, launched in 1999 by the firm's e-commerce subsidiary, Merrill Direct Markets, was the first attempt by a major institution to run a live FIX-compliant connection for its customers. However, like other FIXML...

Icor Gets Big Partner for Standards efforts.(Reuters Group )(Brief Article)
February 4, 2002... Icor, a new electronic brokerage system for currency options, has adopted a straightforward method to get around the problem of a lack of common technical standards and interfaces for its trading platform. Rather than develop extensive-and...

Twist Adds Four New Members to Consortium.(Brief Article)
February 4, 2002... Twist, the foreign exchange messaging protocol developed by the treasury workstation integration standards team, last week expanded its group of users by adding Bloomberg Llc, FX middleware vendor Cognotec, Exido, a developer of an...

CameronFIX to Offer Plug-'n-Play FIX Solution.(Brief Article)
February 4, 2002... Cameron Systems plans to roll out its CameronFIX Universal Server this month, a plug-'n-play FIX application for small-to-midsized clients that can be beefed up with added functionality for larger clients. FIX Messages can be routed to COM or...

ABN Amro Spins Off Middleware Business.(Brief Article)
February 4, 2002... ABN Amro's suite of XML-based middleware integration systems, developed by Chicago-based unit ABN Amro North America, has become the basis for a new company, Neogration. The Dutch firm will have an equity stake and be a strategic partner....

FpML.org, ISDA Complete Organizational Integration.(International Swaps and Derivatives Association )(Brief Article)
February 4, 2002... The integration of FpML.org with the International Swaps and Derivatives Association was finalized on Jan. 25, according to the ISDA's assistant director of policy, Karel Englen. "We signed the legal agreements this morning [Jan 25],"...

Meridien: Industry Taking XML Investments In-House.(report from Meridien Research)(Brief Article)
February 4, 2002... Despite the falloff in the industry's IT spending, financial institutions are continuing to spend on XML technologies, but are putting their money into internal technologies, according to a report issued last month by Newton, Mass-based...

Reuters Group Reports Financial Data in XBRL.(Brief Article)
February 4, 2002... Reuters Group Plc became the first major publicly listed company in Europe to publish its financial statements on the Internet using a prototype of the extensible business reporting language (XBRL). The new XML standard was used to publish...

FIX-Compliant Systems & Services providers.(Directory)
February 4, 2002... Advanced FIX Systems PO Box 6756, Jersey City, N.J. 07306, (201) 439-0402, www.advancedfix.com Founded: 2001 Parent company: Siliware Parent founded: 1998 FIX-Compliant Offering: Advanced FIX Engine Versions of FIX...

FIX-Compliant Systems & Services providers - Cont'd.(Directory)
February 4, 2002... GEOBOT 959 Ridgeway Loop Rd., Ste. 200, Memphis, Tenn. 38120, (901) 261-8900, fax: (901) 261-8901, www.geobot.com Founded: 1999 Versions of FIX supported: 4.1, 4.2, 4.3 Branch offices: Memphis (headquarters), Boston (financial...

Pershing's Backup Center Can Take Over in an Hour.(Pershing and Co.)(Brief Article)(Statistical Data Included)
February 4, 2002... Pershing's new secondary data center, which it said is the largest IBM mirrored data center in the world, can take over operations within an hour if the first data center is lost, said Rich Reinemann, managing director, customer processing and...

Nasdaq Readies Post Data Online Data Service.(Brief Article)
February 4, 2002... The Nasdaq Stock Market will roll out on March 18 Nasdaq PostData, a new online data service consisting of trading data reports for buy-side investors, market-makers and investment bankers. The new service will include subscribers' daily...

Eze Castle Is Brut's Latest OMS Linkage.(Brief Article)(Product Announcement)
February 4, 2002... Brut, which is pursuing institutional customers with a new front end (Securities Industry News, Jan. 14), also is linking with order management system vendors and order routing networks. Brut, which previously announced agreements with...

Amex Third Options Exchange To Choose Javelin for Linkage.(Brief Article)
February 4, 2002... The American Stock Exchange last week became the third U.S. options exchange to choose Javelin Technologies' Appia trading solution to take part in the plan to link electronically all five options marketplaces, as mandated by the Securities and...

CreditTrade Taps Digital Island For Managed Ops Facilities.(Brief Article)
February 4, 2002... Digital Island has been chosen by CreditTrade, the London-based derivatives trading system, to provide operational facilities for a two-way trading suite for its global transaction platform. Digital Island will provide the operational...

Deutsche Borse Tempts Retail Investors With Xetra.(Brief Article)
February 4, 2002... Deutsche Borse is attempting to increase the retail order flow onto its Xetra electronic trading system through its new Xetra Best service, and at the same time curb the threat of internalization by brokers. Xetra Best, due to be launched...

J.W. Seligman Advises ITPC on Commission Issues.(Brief Article)
February 4, 2002... New York City-based buy-side firm J.W. Seligman has sent recommendations to the Institutional Transaction Processing Committee (ITPC) of the Securities Industry Association on how to modify the ITPC's T+1 model to handle and automate commission...

Euroclear Chooses Software Vendor for Database.(Brief Article)
February 4, 2002... International depository Euroclear said last week that it will use software from U.K. software vendor Thales to replace technology from its former operator, J.P. Morgan, in building and maintaining a database with information on both...

Japan's Depository Rolls Out Pre-Matching Service.(Jasdec)(Brief Article)
February 4, 2002... In moving to a one-day settlement cycle, Japan's central depository Jasdec expanded its pre-settlement matching service (PSMS) for Japanese equities last Monday to include 16 foreign firms. The firms are among the 50 banks, trust companies,...

Euronext Sets BVLP Conversion.(Bolsa de Valores de Lisboa)(Brief Article)
February 4, 2002... Following last Tuesday's news that the shareholders of the Bolsa de Valores de Lisboa e Porto (BVLP) had approved of the exchange's merger with Euronext, officials from the two markets said the BVLP would be migrated to Euronext's systems in...

Monte Titoli Launches Sec Lending.(Brief Article)
February 4, 2002... Italy's central depository, Monte Titoli, last Monday finally launched its securities lending and borrowing service after a six-week delay. Initially, only five broker-dealers and banks-BNP Paribas Securities Services, Banca Leonardo,...

VMU Interoperability in Question?(PricewaterhouseCoopers reports on Omgeo and Global Straight-Through-Processing Association virtual matching utilities compatability)
February 11, 2002... A preliminary analysis by PricewaterhouseCoopers of how Omgeo and the Global Straight-Through-Processing Association's rival central matching services work details differences between the two STP models that could hamper future attempts at...

Island's Growing QQQ Share Revives ITS Issue.(Island ECN's QQQs trading success and future of the Intermarket Trading System)(Brief Article)
February 11, 2002... The Island ECN's success at trading the QQQs, the American Stock Exchange's flagship security that tracks the Nasdaq-100 index, may be reviving the regulatory debate about whether the two-decade-old Intermarket Trading System (ITS) remains an...

Fighting Back: Nasdaq unveils new fees as competition intensifies.(Nasdaq Stock Market)(Brief Article)
February 11, 2002... The Nasdaq Stock Market, which is still awaiting the Securities and Exchange Commission's approval of its exchange application, last week proposed a new pricing structure for some of its services as competition for liquidity heats up among the...

Euronext, Warsaw Sign Partnership Agreement.(Warsaw Stock Exchange)(Brief Article)
February 11, 2002... Euronext, the pan-European securities market, has inked a cross-membership and cross-access agreement with the Warsaw Stock Exchange, the largest equities market in Central and Eastern Europe. The deal falls short of a merger, but will...

Optimark Takes Ashton Stake; Plans New Service.(OptiMark Technologies Inc. forms Optimark Innovations to acquire Ashton Technology Group Inc.)(Brief Article)
February 11, 2002... Optimark has opened a new chapter in its efforts to reshape itself, with a larger focus on directly building new exchanges for both the securities industry and nonfinancial services businesses. The firm has established a subsidiary that is...

EFA Eyes Deutsche Borse Deal.(x-launch to use EFA Software trading platform)(Company Profile)(Statistical Data Included)
February 11, 2002... EFA Software, the Calgary, Canada-based software vendor specializing in emerging markets, is close to inking a deal with Deutsche Borse subsidiary x-launch to use EFA's Horizon trading platform in B2B markets, said industry sources in Europe....

ESF's Kent: Processing Consolidation Not Just Helpful, But Essential.(European Securities Forum's Pen Kent)(Transcript)
February 11, 2002... Speaking at an international securities settlement conference in London last Tuesday, Pen Kent, the executive chairman of the European Securities Forum, discussed how processing will play a major role in Europe's hopes for a single capital...

IFS Buy Could Help Integral, Atriax.(Integral Development Corp.'s acquisition of International Financial Systems Ltd.)(Brief Article)
February 11, 2002... Trading technology vendor Integral Development Corp.'s acquisition of Dublin-based International Financial Systems, will not only augment the Integral product line, but could also provide a boost to the Atriax foreign exchange trading platform,...

Oslo Delays Saxess Implementation.(Oslo Stock Exchange and OM AB's trading system)(Brief Article)
February 11, 2002... The Oslo Bors has postponed implementing a new version of OM's equity trading system Saxess, exchange officials said. Svein Arlind Andersen, president of the Oslo Bors, said the delay was not related to a technical flaw but the need for...

Apcims Sees Broader European Role After EASD Deal.(Association of Private Client Investment Managers and Stockbrokers,)(European Association of Securities Dealers)
February 11, 2002... The prospect of a single pan-European investment market has prompted a merger between two securities dealers' trade associations. The U.K.'s main trade group for retail stock brokers, the Association of Private Client Investment Managers and...

J.P. Morgan Eyes Greater Reach With FundsHub.(Brief Article)(Company Profile)
February 11, 2002... J.P. Morgan Investor Services has bought out the majority partner in the struggling FundsHub fund supermarket joint venture in order to provide J.P. Morgan with an additional channel for distributing its own range of funds. "It gives us...

Swift Looking to Support Investment Funds.(Society for Worldwide Interbank Financial Telecommunication)(Brief Article)
February 11, 2002... Swift is working to fill in one of the missing links to a pan-European system for the settlement of investment funds and other collective investment products. Sometime in late March or early April, it plans to announce a new series of message...

Radianz Nabs Foreign & Colonial, in Talks With Swift.(global financial extranet)(Brief Article)(Company Profile)
February 11, 2002... Pan-European asset management company Foreign & Colonial Management Ltd. has chosen Radianz to provide the firm with a global financial extranet for routing orders worldwide. The deal comes amid discussions between Swift and Radianz about the...

Tradebook to Certify FIX Connections With ttCert.(Brief Article)(Company Profile)
February 11, 2002... Electronic communications network Bloomberg Tradebook is certifying its FIX connections with TransactTools' ttCert, the New York City-based Internet vendor's FIX certification module. Customers connecting to Tradebook and Bloomberg's...

CheckFree Returns to Recon.(CheckFree Investment Services releases new software DL-Recon)(Brief Article)(Product Announcement)
February 11, 2002... CheckFree has reentered the reconciliation arena with a new service-bureau offering targeting buy-side firms, company officials said last week. DL-Recon, developed by CheckFree Investment Services in collaboration with Harbor Capital...

ICAA, SIA Hammer OUT Buy-Side T+1 Concerns.(Investment Counsel Association of America)(Securities Industry Association)
February 11, 2002... The marketing of T+1 has inspired some pretty diverse efforts. On the West Coast, the giant pension fund Calpers put together a "Straight-Thru Chili Cook-Off" to rally staff support for the initiative, while also implementing color-coded...

Investment firms take different paths to stp.
February 11, 2002... Despite tightened budget constraints, the buy side continues to prepare for T+1 with an eye toward the scheduled March release of the Securities Industry Association's updated Institutional Transaction Processing Committee (ITPC) T+1...

High Tech Costs make Outsourcing attractive.(outsourcing of back-office computer operations)
February 11, 2002... To outsource or not to outsource? That is the question that many of Europe's fund managers are currently asking themselves. The cost of purchasing the technology and systems for back-office operations, as well as the running costs for staff...

T+1's Privacy Questions.(Brief Article)
February 11, 2002... In the securities industry, data is king. So how will the market ensure the privacy of investor information gathered under T+1 operations by the proposed central matching utilities (CMUs), which will handle, perhaps, the largest databases of...

Singapore Postpones New Pre-Matching Service.(Brief Article)
February 11, 2002... The Singapore Exchange will delay the launch of a pre-matching service by a year, to the end of 2003, leaving in doubt when the exchange will be able to move to a T+1 settlement cycle, said industry sources. The SGX-which vies with Hong...

Merrill Taps Syntegra for Voice-Trading Technology.(Merrill Lynch and Co.)(Brief Article)
February 11, 2002... Merrill Lynch has picked Syntegra to provide voice-trading technology to support 1,400 positions at its new trading floors at the Merrill Lynch Financial Centre in London. The Syntegra ITS installation is the largest ITS deployment in the...

Fast-growing ICE attracts nymex Interest.(IntercontinentalExchange, New York Mercantile Exchange)(Brief Article)(Statistical Data Included)
February 11, 2002... IntercontinentalExchange (ICE), a fast-growing Internet-based commodity marketplace, is attracting interest from established players as the New York Mercantile Exchange initiated talks in view of a possible alliance, according to industry...

ASX Perpetual Wins Computershare Client Qantas.(Qantas Airways Ltd.)(Brief Article)(Statistical Data Included)
February 11, 2002... The competition between Computershare and ASX Perpetual Registrars, a former Computershare client, is heating up in Australia, with ASX Perpetual nabbing one of Computershare's largest clients, Qantas. The Australian national airline...

eSecLending Using OM System for Back Office.(OneWorld Securities Finance software )(Brief Article)(Statistical Data Included)
February 11, 2002... ESecLending, the auction-based securities lending platform, has gone live with OM's OneWorld Securities Finance software to extend its scope beyond portfolio and price discovery to back-office administration. The deal marks OneWorld...

EMX Adds Cameron To Its List of Vendors.(Cameron Systems software)(Brief Article)
February 11, 2002... EMX, the London-based messaging network for mutual funds transactions, has added Cameron Systems' CameronFIX's offering to its roster of EMX integrators. Other vendors include Apt Computer Systems Ltd, Financial Fusion, Heliograph, Trimark and...

Reuters Targets Buy Side, Mid-Tiers With Dealing Link.(introduces new service)(Brief Article)
February 11, 2002... Reuters Group Plc has introduced an entry-level version of its dealing and information screen service for Treasury and securities traders. Dubbed Reuters Dealing Link, the service is a pared-down version of its flagship Dealing 3000 product, as...

Sector Data Nabs Two Users For SectorEngine Application.(Brief Article)(Statistical Data Included)
February 11, 2002... Preferred Trade, a San Francisco-based brokerage specializing in options trading, has picked San Francisco-based Sector Data to provide its SectorEngine Java-based quote and research application for U.S. equities to support about 40 users in...

Harborside+ Launches System for Large Block Trades.(Brief Article)(Statistical Data Included)
February 11, 2002... Harborside+, a new block trading service for the buy and sell sides backed by Thomson Financial and Jefferies & Co., is being rolled out and is expected to reach critical mass-where it will have enough volume to match trades consistently-by the...

Merrill Joins Market Axess as Liquidity Provider.(Merrill Lynch and Co.)(Brief Article)
February 11, 2002... Multidealer trading firm Market Axess announced the addition of former BondBook backer Merrill Lynch as a participating dealer on its corporate bond platform, which now includes 12 of the top debt underwriters for credit products. The firm...

Treasury Adds Secure Network to Battle Terrorism.(United States Department of Treasury)
February 11, 2002... The U.S. Treasury will begin testing in mid-April a "working prototype" for a highly secure network where financial institutions can make Bank Secrecy Act (BSA) filings and receive alerts regarding suspicious money laundering or terrorist...

SEC to Weigh T+1 Costs.(Brief Article)
February 18, 2002... The Securities and Exchange Commission will undertake a cost-benefit analysis of the securities industry's move to T+1 settlement to aid in regulating the new market structure, according to a letter sent by the commission earlier this month in...

SIA Issues Central Matching Guidelines; Omgeo in Sync.(Brief Article)
February 18, 2002... The Securities Industry Association's Institutional Trade Processing Committee last Thursday released its long awaited recommendations for central trade matching of U.S. securities, and as expected the guidelines had more in common with Omgeo's...

Instinet Customizes as Business Changes.(Brief Article)
February 18, 2002... Instinet, hurt lately by a slide in profits and market share, is customizing its products to better meet the needs of its clients, from hedge funds to large institutions, as the pioneer of electronic trading adapts to dramatic changes in the...

E-Trade Seeks Linux Savings.(E*TRADE Group Inc)(Brief Article)
February 18, 2002... E-Trade's decision to move its entire architecture from Sun Solaris to the Linux operating system, and from relying completely on Sun Microsystems as its hardware vendor to using a mix of other vendors, was a financial decision, not a...

Lehman's Budget, Commitment Grow.(Shearson Lehman Brothers Inc. Lehman Brothers Div.)(Brief Article)
February 18, 2002... The winding down of the much-hyped LabMorgan by J.P. Morgan Chase apparently does not spell the end to e-commerce on Wall Street. In fact, at Lehman Brothers, the budget for the equity e-commerce group is "substantially higher" this year...

Solly Readies Systems, Shifts Focus.(Salomon Smith Barney Holdings Inc.)(Brief Article)
February 18, 2002... In Salomon Smith Barney's global fixed income division, the role of e-commerce within the firm hasn't changed over the past year, although the firm's strategy for making investments in e-commerce trading platforms has evolved, according to John...

Exchange Model Is Still Adapting: trouble Ahead.
February 18, 2002... Patrick Young has written a sequel to his book, "Capital Market Revolution," in the form of a management report entitled "The Promiscuous Investor: Can Intermediaries Survive the Capital Market Revolution?" The just published report, whose...

Verizon Outage Tests Disaster Plans.(Verizon Communications)(Brief Article)
February 18, 2002... Several Wall Street firms faced one of their first post-Sept. 11 tests of disaster-recovery planning earlier this month, the result of a water main break near Ground Zero. The resulting flooding affected Verizon customers in Manhattan's...

Nasdaq Mulling ETFs on Composite.(Nasdaq Stock Market Inc.)(exchange-traded funds)(Brief Article)
February 18, 2002... The Nasdaq Stock Market is mulling new exchange-traded funds (ETFs)-the stocks that track popular indexes-based on the Nasdaq Composite, said John Jacobs, Nasdaq's SVP for marketing and financial products. "We have been approached by a...

Nasdaq Readies New Data Feeds for SuperMontage.(Nasdaq Stock Market Inc.)(Brief Article)
February 18, 2002... Nasdaq is gearing up to roll out four data feed packages with the launch of SuperMontage. The market also has determined the feeds that will be distributed by a new securities information processor (SIP) for Nasdaq stocks. Nasdaq and its...

SunGard Unit Trims Staff as Earnings Healthy.(Brief Article)
February 18, 2002... News of layoffs in SunGard Trading Systems' global markets division dampened an otherwise positive financial picture for corporate parent SunGard Data Systems, which posted revenue and earnings growth last year that was at the high end of Wall...

Javelin Technologies Inks Deal With Nasdaq Japan.(Brief Article)
February 18, 2002... Javelin Technologies has signed a deal with Nasdaq Japan, a facility of the Osaka Stock Exchange, to install the software vendor's Appia EE (Enterprise Edition) to allow the market's members to connect using a Japanese version of FIX 4.2. ...

Gain Capital Acquires Retail Forex Platform.(American Traders FX)(Brief Article)
February 18, 2002... Online currency trading platform Gain Capital said last week that it has acquired the privately held American Traders FX, for an undisclosed amount of cash and stock. The terms of the agreement call for the transfer of all AFTX customer...

NSCC to Automate Fund-Distributor Communications.(National Securities Clearing Corp.)(Brief Article)
February 18, 2002... National Securities Clearing Corp., a subsidiary of Depository Trust & Clearing Co., is expanding its mutual fund service, launching a new Web-based offering called Fund/Speed to allow for automated communications between mutual fund companies...

OM in Battle Over Rights to Key Operating Software.(Twobyfour Software AB)(Brief Article)
February 18, 2002... Three U.S.consultants-and minority creditors-are in a legal battle with OM, the Swedish technology powerhouse, over the fate of a Stockholm-based software company 2x4, formerly known as Twobyfour Software, which they claim OM improperly took...

FpML 3.0 Draft Unveiled but Work is not Finished.(Brief Article)
February 18, 2002... While the International Swaps and Derivatives Association released a working draft for FpML 3.0 earlier this month, the tweaking for the new version is likely far from complete. Brian Lynn, co-chairman of the FpML.org standards committee...

Advent, Microsoft Demo .Net; Townsend on Board.(joint venture product introduction)(Brief Article)(Product Announcement)
February 18, 2002... Advent and Microsoft unveiled their .Net collaboration last week by introducing the beta version of MSN Money Professional, billed by the two vendors as the first .Net service for the financial industry, at Demo 2002 in Phoenix. The live...

Amex Taps Syntegra Turrets.(American Stock Exchange contracts with Syntegra)(Brief Article)
February 18, 2002... The American Stock Exchange has chosen Syntegra to provide trading turrets for 1,300 positions to be implemented by the end of 2002. Amex currently is relying on turrets from IPC, formerly owned by Global Crossing, and AT&T, said Peter Minoli,...

Demand Increases for Correspondent Broker Workstations.(Brief Article)
February 18, 2002... The movement toward straight-through processing and a shifting business climate are placing enormous strains on the technology groups of brokerage firms, and many are deciding that they don't have the scale for major investments. As a result,...

Equilend Presses on With Two-Phase Rollout.(Brief Article)
February 18, 2002... Equilend, an electronic securities lending platform, has opted for a two-phase rollout this year. The objective is to link its initial "club" of members before opening the Internet-based system to other market participants. "Testing of the...