Securities Industry News articles from July 2008

Securities Industry News archives from July 2008

OnePipe Brings in Lifeguard.
July 14, 2008... Agency brokerage Weeden & Co. and its technology partner, New York-based Pragma Financial Systems, last week introduced an anti-gaming enhancement--Lifeguard--to their OnePipe liquidity management platform. OnePipe, an aggregation service that...

Volante Gets New Swift Label.(Society for Worldwide Interbank Financial Telecommunication)(Brief article)
July 14, 2008... Swift has added a new category of partners--messaging data services (MDS)--to its SwiftReady program and awarded vendor Volante Technologies the first gold-label designation. "Volante successfully passed the tests for the MDS certification,...

New U.K. Proxy Service.
July 14, 2008... London-based brokerage Kilik & Co. has adopted Broadridge Financial Solutions' nomination and proxy voting service--the first firm to do so. The new service, which capitalizes on changes to U.K. legislation that give beneficial shareholders the...

People in the News.(3D Markets has appointed some people)(Brief article)
July 14, 2008... New Hope, Pa.-based 3D Markets is bringing in new staff as it gears up for a full launch of Archangel, the block trading venue for equities options it is currently testing. Stuart Filippone, previously an SVP in sales for BNY ConvergEx Group,...

Making Clicks Count: The Search for Simple Software.
July 14, 2008... As software vendors continue to flood the market with new products, Wall Street is looking at ease of use as a key differentiator, which is certainly not lost on the people working to ensure their systems have a lifespan longer than the time...

Bulge-Bracket Execs Fill Top Technology Slots at Fidelity.
July 14, 2008... Fidelity Investments is tapping two executives from major Wall Street firms to fill top technology positions at the Boston-based money manager and institutional brokerage. Effective at the end of the month, Daniel Petrozzo, former...

DTCC and Swift Team on Alternative Investment Messaging.(Society for Worldwide Interbank Financial Telecommunication)
July 14, 2008... The Depository Trust & Clearing Corp. (DTCC) and Swift are working together to introduce 12 interoperable XML-based message formats to the alternative investment community. The initiative is designed to allow market participants to connect...

TheMarkets.com Expands Offerings With New Division.
July 14, 2008... TheMarkets.com, a provider of research and workflow solutions to buy-side firms, said last week that it has launched a unit that will deliver research and earnings estimates from brokers and independent research providers directly to its...

Learning to Share: Big Obstacles for ERM~Standardization, corporate governance pose challenges to enterprisewide view of risk.
July 14, 2008... The touted benefits of enterprisewide risk management, or ERM, are plentiful: It frees up regulatory capital, lowers operational costs, brings transparency to loss exposures, and helps firms avoid defaults and more-efficiently allocate capital,...

The Changing Face of Security~Third-party access, mobile connectivity among top op risk concerns.
July 14, 2008... With every desktop computer now an information router and each USB thumb drive a potential loss point, financial services firms are approaching information and technology security in new ways. Perimeter security is no longer enough, says...

Uneven Risk Management Progress in Asia.
July 14, 2008... Spurred by integration of the world's capital markets and growing anxiety over effects of the U.S. subprime crisis, Asian firms are increasing their investment in risk management technology. Financial firms in more-developed Asian countries...

CROs Share Lessons Learned~Goldman, Wachovia, JP Morgan risk chiefs discuss function, post-credit crisis.
July 14, 2008... The risk management function has taken on a considerably higher profile since the Securities Industry & Financial Markets Association (Sifma) held its last annual risk conference. The subprime meltdown, the near-collapse of Bear Stearns,...

Evolutionary Strides for Operational Risk Management.
July 14, 2008... Operational risk, historically viewed as a lower priority than credit and market risk, was a focal point of the Securities Industry & Financial Markets Association's recent risk management conference. Though experts agreed that operational risk...

Liffe Plans Entrance Into Credit Derivatives Clearing Business.
July 14, 2008... NYSE Euronext subsidiary Liffe plans to get a head start on its derivatives exchange competitors by offering centralized clearing of European credit default swaps (CDS) indexes by the end of the year. Liffe, the world's second-largest...

Blogging Filters Bringing Order to Chaotic Content~Alternative research providers give shape to unstructured data.
July 14, 2008... As blog postings and other content about stocks, market sectors, products and company actions permeate the Internet, time-pressed portfolio managers, traders and research analysts are finding it harder and harder to keep pace. But a new...

Welcome to an Uncompressed World: Higher Fees Imminent~Nasdaq no longer permits trade compression.
July 14, 2008... Nasdaq Stock Market's elimination of trade compression, effective July 11, could prompt a sudden spike in clearing and settlement costs for broker-dealers, who will likely have to alter their trading strategies. And while firms can turn to...

European Clearers Are Up In Arms Over EuroCCP's Pricing Claims~Cost-comparison study puts DTCC subsidiary on top.
July 14, 2008... Amid escalating competition in European clearing, Depository Trust & Clearing Corp. (DTCC) subsidiary EuroCCP has issued a report claiming that it will offer the lowest costs on the continent. The assertion has not gone unnoticed, as many...