Securities Industry News articles from July 2009

Securities Industry News archives from July 2009

Banks Say Upgrade Repo Clearing, Don't Centralize It.(News)
July 6, 2009... Byline: Shane Kite Bank executives are urging voluntary adoption of tougher margin requirements for risky assets and predetermined protocols for liquidating collateral in the repurchase, or "repo," market to blunt any effort by regulators...

STEP TWO: Hands Off: Automating Reconciliation Can Dramatically Lower Costs.(Special Report: Sifma Technology Conference)
July 6, 2009... Byline: Carol E. Curtis Reconciling the positions of buyers and sellers after trades of derivatives and other complex instruments are executed is tough. Most firms or their fund managers and broker-dealers use largely manual means to...

STEP THREE: Spend Green, Go Green, Save Green.(Special Report: Sifma Technology Conference)
July 6, 2009... Byline: Alexa Jaworski The message is clear: When discussing cost cutting, energy efficiency cannot be left out of the conversation. In fact, financial firms can save 99 percent of the heating, air conditioning and power...

STEP FIVE: Co-locate. Even With Your Competitor.(Special Report: Sifma Technology Conference)
July 6, 2009... Byline: Maria Korolov This month, the New York Stock Exchange will begin talking to potential occupants of its new data center, scheduled to open in New Jersey next year. And don't be surprised if electronic networks that compete with...

STEP SIX: Flatten Communications Costs With Cable Connections.(Special Report: Sifma Technology Conference)
July 6, 2009... Byline: Thomas Hoffman This could be big, as Verizon might put it. Some Wall Street. firms are cutting costs by taking their data traffic from companies that traditionally supplied communication services such as Verizon Business and...

STEP SEVEN: Use Machines To Make Extreme Profits From Extreme Frequency.(Special Report: Sifma Technology Conference)(Conference notes)
July 6, 2009... Byline: Katherine Heires High frequency trading firms now account for more than 60% of all US equity trades, according to research from Boston advisory firm Aite Group. They go by names such as Citadel, Getco and Tradebot. And now...

Workflow Sofware May Aid Investment Advisers.(Regulation)
July 6, 2009... Byline: John Hintze The 150-year sentence handed down last week to Ponzi king Bernie Madoff reminded the world yet again of how the investment advisory industry's less regulated and sometimes poor disclosure and transparency practices...

Two Big Options Exchanges Sign On With Equinix.(Data Management)
July 6, 2009... Byline: Alexa Jaworski Two of the largest options exchanges signed on late last month with data center services vendor Equinix. The International Securities Exchange (ISE) said that it will run its new options trading system, its...

Taking Control Of Spreadsheets.(Data Sweep)
July 6, 2009... Byline: Alexa Jaworski Concerns about operational risks are driving many finaical institutions to increase enterprise controls over business critical spreadsheets, according to a study released last week by the Tabb Group. The...

Enterprise Risk Management: Getting Holistic.(News)
July 6, 2009... Byline: Maria Korolov The recent financial crisis has demonstrated that securities firms need to change the way they approach risk, needing now to consider a wider variety of economic scenarios and to evaluate risk in an enterprise-wide...

Bats Europe Enters Dark Pool Market.(News Desk)
July 6, 2009... Byline: Chris Kentouris Bats Europe, the European arm of Bats Global Markets, said that it will enter the European dark pool market in August with an aggressively priced system that will reward participants that postA sale or purchase...

Seven-Step Survival Guide: How to Thrive in Tough Times.(Special Report: Sifma Technology Conference)
July 6, 2009... Byline: Editorial Staff Are you ready to adapt? The worst of the world's banking, securities and credit crises may be past. The outplacement firm Challenger, Gray & Christmas reported July 1 that financial industries layoffs were down...

STEP ONE: The 70 Percent Solution: Cut Costs Upfront and As You Go, With Cloud Computing.(Special Report: Sifma Technology Conference)
July 6, 2009... Byline: Carol E. Curtis If cloud computing needed an imprimatur that its time has arrived in financial services, it may have come in a survey released June 24 at the Securities Industry and Financial Markets Association's Technology...