Securities Industry News articles from June 2009

Securities Industry News archives from June 2009

Failure Isn't An Option for Franklin Templeton.(News)
June 15, 2009... Byline: Chris Kentouris Cleaning up a transaction that fails to settle on time can cost anywhere from a few hundred dollars to a few thousand depending on its complexity and whether it takes several hours or several days to resolve. ...

Separate Standard, Custom Swaps Based On Liquidity, Says Pickel.(News)
June 15, 2009... Byline: Shane Kite A liquidity test should define whether a credit default swap will be considered standardized or customized, a split which will determine how the contracts will be treated under upcoming derivatives regulations, Robert...

BlackRock To Acquire Barclays Global Investors.(News Desk)
June 15, 2009... Byline: Alexa Jaworski BlackRock said last week that it entered a purchase agreement to acquire Barclays Global Investors, including exchange-traded funds (ETF) platform iShares from parent company Barclays Plc.. The combination of...

Glitch Forces Turquoise To Suspend Trading.(News Desk)
June 15, 2009... Byline: Chris Kentouris A software coding error caused London-based Turquoise, the bank-backed alternative equity trading venue, to suspend trading for several hours on June 10. Turquoise runs a hybrid trading model: it accepts both...

Swift Expands Accord Matching Service For Hedge Fund Trades.(News Desk)
June 15, 2009... Byline: Chris Kentouris Swift, the interbank messaging consortium, has expanded its Accord matching system to handle the pre-settlement processing of trade messages between prime brokers and executing brokers for hedge fund trades. ...

Focusing On Budget Cuts.(SIFMA preview)
June 15, 2009... Byline: Katherine Heires As new research shows a worldwide IT budget squeeze, CIOs-and particularly those at securities firms - are on the hunt as never before for technologies that will reduce operating costs while simultaneously allowing...

The Key Phases of Virtualization.(Technology)
June 15, 2009... Byline: Tom Steinert-Threlkeld The decoupling of a particular computer from the software system that tells it how to operate, the applications that run on it or the data stored on it is known as virtualization. And the mass conversion of...

How Not To Get Stuck In The Clouds.(Services)
June 15, 2009... Byline: Maria Korolov The promise of cloud computing is that a company can easily scale applications up or down, or move them from internal to external locations, to match demand, optimize performance, or lower costs. In practice,...

Risk Management: What's Happening Now?(Risk Management)
June 15, 2009... Byline: Carol E. Curtis As the financial crisis continues to drive cost-cutting in securities technology, risk management is one of the notable exceptions. With a renewed focus on all kinds of risk exposure, IT executives at securities...

Online Brokerages Split On Benefits of 'Flash' Orders.(News)
June 15, 2009... Byline: John Hintze Two of the largest online brokerages-Charles Schwab and TD Ameritrade -are divided on whether the exchanges' programs to flash orders briefly to dark liquidity providers before routing them to other exchanges helps or...

Fidelity Makes Push Into Prime Brokerage.(News)
June 15, 2009... Byline: Gregory Bresiger Fido is growling, showing his teeth and ready to eat the lunch of some much big-ger dogs. Fidelity, familiarly known as Fido, is a relatively small dog in prime brokerage, but it is moving aggressively to...

The 3 False Gods Of Financial Services.(Comment)
June 22, 2009... Byline: Allan D. Grody Financial InterGroup Advisors We have long proclaimed our devotion to capital adequacy, risk management and straight-through processing as the fundamental underpinnings of the financial service industry. However, as...

Dealers May Need To Upgrade Valuation Services.(Regulations)
June 22, 2009... Byline: Shane Kite Securities dealers intending to keep big revenues via trading and structuring over-the-counter derivatives need to upgrade their valuation services to satisfy the market's demand for clearer views of risk and standard...

Could Large Hedge Funds Be Regulated By The Fed?(Regulations)
June 22, 2009... Byline: Carol E. Curtis At first glance, the Obama administration's financial regulatory reform proposals appear to hold few surprises for hedge funds. To no one's astonishment, the plan calls for hedge fund advisers with assets under...

Hedge Funds Aim Technology at Regulator, Investor Demands.(Regulations)
June 22, 2009... Byline: Shane Kite Several hedge funds and their administrators are adopting enhanced systems aimed at fulfilling expected compliance requirements for more transparency and meeting heightened demands from investors to communicate portfolio...

Carbon Trading Market Creating Opportunities.(Exchanges)
June 22, 2009... Byline: Chris Kentouris Continued growth in the global carbon trading market and the anticipated adoption of a U.S. climate control bill is creating plenty of new opportunities for investment banks, nascent exchanges, technology vendors...

Data-Center-In-A-Box Gives Firms Flexibility.(Data Management)
June 22, 2009... Byline: Tom Groenfeldt Financial firms which need a lot of compute power in a hurry can have it delivered by truck or ship usually in 8 to 12 weeks-and sometimes within days-to any location with power and data connections. This is...

Data Center Companies To Showcase Wares.(Technology)(Conference notes)
June 22, 2009... Byline: Alexa Jaworski MORE THAN 40 COMPANIES are planning to exhibit for the first time at this week's Securities Industry and Financial Markets Association annual technology conference. Though the number of companies exhibiting has...

Wall Street Widens Open Source Embrace.(Technology)
June 22, 2009... Byline: Janice Fioravante Whether sell-side, buy-side, exchanges or alternative trading venues, Wall Street is widening its embrace of open source technology. Today, budget-conscious capital-market firms are implementing open source order...

Deutsche Bank Signs On With OpTier for BTM.(News Desk)
June 22, 2009... Byline: Editorial Staff Deutsche Bank has selected OpTier's CoreFirst business transaction management software to keep track of the performance of more than 20 applications in its retail banking and trading divisions worldwide. The...

Omgeo Extends Central Matching Engine to Broker-Dealers.(News Desk)
June 22, 2009... Byline: Editorial Staff Twelve global broker-dealers have signed up to use Omgeo's Central Trade Manager (CTM) to centrally match trades in non-U.S. securities with U.S. fund managers and for U.S. trades with non-U.S. fund managers. ...

NYSE Euronext, DTCC To Create Clearinghouse For Fixed Income Derivatives.(News Desk)
June 22, 2009... Byline: Editorial Staff NYSE Euronext and the Depository Trust & Clearing Corp. said last week that they are teaming up to create a clearing house for U.S. fixed income derivatives. The 50-50 joint venture, called New York Portfolio...

CUSIP Service Bureau To Issue IDs For Hedge Funds, FoHFs.(News Desk)
June 22, 2009... Byline: Editorial Staff The CUSIP Service Bureau, North America's numbering agency, has teamed up with Hedgefund.net, an information provider for hedge funds, to issue nine-digit and 12-digit alphanumeric codes for hedge funds and fund of...

Microsoft Readies CEP Tests.(News)
June 22, 2009... Byline: Katherine Heires Microsoft said that July is the month when it will kick-start testing and evaluation efforts with several financial service firms-yet to be named-for a new complex event processing platform that the Seattle-based...

Pershing Uses Analytics To Keep Score On Clients.(Case Study)
June 22, 2009... Byline: Thomas Hoffman With securities industry firms these days placing such a high value on keeping the customers they already have, it's little surprise that Pershing LLC has an effort underway to continuously improve the processes it...

New Options Rule May Add To IT Burden.(News)
June 22, 2009... Byline: John Hintze Pending regulatory changes due to take effect over the summer are already stretching the workdays of technology and operations staffs at the most active options-market participants, and the rest of the market may soon...