Securities Industry News articles from July 2007

Securities Industry News archives from July 2007

In Transatlantic Tangle, Disagreement Resurfaces Over Cusip Fee Policy.
July 9, 2007... A long-simmering debate over whether the Cusip Service Bureau (CSB), North America's securities numbering agency, has the right to charge European financial institutions for international securities identification numbers (ISINs) is flaring up...

Big Firms Not Ready to Capitalize On Globalization Trends: IBM Study.
July 9, 2007... Securities firms are flush with profits, and the future outlook for global financial services markets is trending in their favor, yet 93 percent of senior executives responding to an IBM Corp.-sponsored survey concede that their companies are...

Sun Microsystems Tweaks Utility Computing Model; Showcased With CDOs.
July 9, 2007... Despite its embrace of grid computing, the securities industry did not warm up quickly to the on-demand, utility-like version of it as championed by Sun Microsystems, among others. Pay-per-use computing, which Sun offers at the rate of $1 per...

Eyeing Exchange Status, Ratterman in Charge At BATS; Cummings Returns to Tradebot.(Company overview)
July 9, 2007... Securities market entrepreneur and market-center gadfly David Cummings will no longer be so closely identified with the BATS Trading electronic communications network (ECN) that he founded and that has had a major impact on institutional stock...

Credit Derivatives Market Opens Up in Malaysia.
July 9, 2007... In a sign of the maturation of Malaysia's derivatives market, Citibank Malaysia, ABN Amro Bank Berhad and CIMB Bank announced Malaysia's first interbank ringgit-denominated credit default swap (CDS) last month. The underlying asset is Projek...

SuperDerivatives Enhances Equity Product Platform.
July 9, 2007... Continuing its rapid pace of product announcements and enhancements, London- and New York-based options pricing, benchmarking and analytics provider SuperDerivatives made two major releases over the past three weeks: new versions of its SD-EQ...

Field Trip.
July 9, 2007... Rep. Vito Fossella, R-N.Y., head of a House Republican Policy Committee task force on capital markets, economic and information security, is taking it on the road this week to meet with CEO Jeffrey Sprecher and others at...

Private Equity Payoffs.
July 9, 2007... Private equity reigns these days in the dealmaking world, but last week several players, including TA Associates of Boston and financial industry-focused FTVentures of San Francisco, arranged for likely lucrative exits. TA, as a result of a $60...

Mellon Buys Out ABN.(Mellon Bank Corp. acquired ABN Amro Mellon Global Securities Services)(Brief article)
July 9, 2007... Mellon Bank, on the heels of its parent company's July 2 merger into what is now Bank of New York Mellon Corp., announced an agreement to purchase ABM Amro's 50 percent share of ABN Amro Mellon Global Securities Services, the international...

Where Algos Are Lacking.
July 9, 2007... RBC Capital Markets, in a survey of 100 professional traders at a forum it hosted on June 26, found that a solid 69 percent do not use algorithmic programs. Changing regulations, access to capital and borrowing opportunities were greater...

Setting Record Straight on FIX Over Swift.(Society for Worldwide Interbank Financial Telecommunication may partner with Ullink)(Editorial)
July 9, 2007... Swift decided earlier this year to partner with my company, Ullink, to replace the SwiftNet FIX service with our FIX hub, UL Net. Swift had come to realize that its FIX services were not up to what the community expected, and the organization...

Nazareth on Supervision and Subprime Leverage.
July 9, 2007... Bear Stearns Companies' hedge fund problems were still unfolding in uncertain fashion on June 27, when Securities and Exchange Commission member Annette Nazareth addressed the Securities Industry & Financial Markets Association (Sifma) Risk...

Vista, Financial Industry Edition: Microsoft's much-anticipated operating system is starting to settle in.
July 9, 2007... It's the bane of any financial industry professional to have to call internal help desks or IT staff to solve a technical problem that diverts attention from profit-making or client-service priorities. Microsoft Corp. is touting its new Vista...

Reg NMS Countdown Down to Three Final Phases:Technology experts confident as they hit pilot milestone today.
July 9, 2007... Three of the four deadlines for Regulation National Market System (NMS) are on the horizon between now and the fall, starting with the pilot phase today for 249 stocks--100 on the Nasdaq Stock Market, 99 on the New York Stock Exchange and 50 on...

SEC E-proxy Rules Prompt Quick Adoption: Broadridge and Computershare support Internet distribution.
July 9, 2007... Two of the largest shareholder services agents are responding rapidly to the Securities and Exchange Commission's new notice-and-access model that makes it easier for issuers to provide proxy materials over the Internet. International...

Tokyo Exchange Takes Stake in Singapore's SGX: First overseas exchange investment by TSE underscores cooperation.
July 9, 2007... The Tokyo Stock Exchange (TSE) has paid the equivalent of $304 million for 5 percent of the Singapore Exchange (SGX). It is the first investment in an overseas exchange by the world's second-biggest bourse, which becomes the second-largest...

Jasdaq Gets an Order to Upgrade.
July 9, 2007... Aiming to avoid operational breakdowns like those that plagued the Tokyo Stock Exchange (TSE) in recent years, Japan's Financial Services Agency (FSA) has ordered the Jasdaq Securities Exchange to improve its information technology. In a...

People in the News.
July 9, 2007... Enterprise data management (EDM) systems provider GoldenSource Corp. has added two executives with nearly six decades of combined industry experience. Ed Gallagher has become SVP and head of sales and client operations for the Americas,...