Securities Industry News articles from March 2002

Securities Industry News archives from March 2002

SIA Eyes Contingency Plans.(Securities Industry Association's Business Continuity Planning committee)
March 4, 2002... The Securities Industry Association's committee on Business Continuity Planning (BCP), formed after Sept. 11, has begun formulating industrywide contingency plans, including creating an industry command center comprised of major securities...

Direct Access Boosts ECNs, Nasdaq.(electronic communications networks)(Brief Article)(Statistical Data Included)
March 4, 2002... Electronic communications networks and Nasdaq's execution systems both saw their percentage of Nasdaq's share volume increase in January as direct-access technology continued to divert liquidity away from traditional broker-dealers, in...

Asset Control, Sun Ink Data Management Deal.(Asset Control Systems, Sun Microsystems)
March 4, 2002... Asset Control Systems is set to announce today that it will embrace the ASP model for reference data cleaning and management with a deal with Sun Microsystems to provide its infrastructure. The new service bureau, labeled under the Acdex...

Margin Muddle: SEC, CFTC seek solution to key single-stock issue.(Securities and Exchange Commission, Commodity Futures Trading Commission)(Brief Article)
March 4, 2002... The financial industry has clearly developed an appetite for single-stock futures, judging by the large audience attending the Securities Futures Conference jointly held by the Securities Industry Association and the Futures Industry...

Vendors Say ISO 15022 Deadline Already Here.
March 4, 2002... While the final deadline for migration to the ISO 15022 standard is still more than seven months away, two vendors who are building to the standard say that it will be too late for anyone seeking to remain on the Swift network unless testing is...

Who Will BenefitFrom Evolving Market Structure?(excerpts from report "Trading Places: The Future of the U.S. Equity Market Structure")
March 4, 2002... Fragmentation of liquidity is here to stay and those who can make sense of a confusing marketplace will triumph, write Lehman Brothers' Maureen Murphy and Luba Krayterman in their report "Trading Places: The Future of the U.S. Equity Market...

Macgregor Touts Soft-Dollar Program.(Brief Article)
March 4, 2002... Macgregor has increasingly promoted its "soft-dollar" payment options, referring to a legal opinion that states that products and services offered by vendors qualify as research and brokerage services to investors payable with soft dollars-or...

BrokerTec Europe's Olesky Bolts to TradeWeb.(Lee Olesky leaves BrokerTec Europe)(Brief Article)
March 4, 2002... Interdealer trading platform BrokerTec Europe has tapped Garry Jones, its director of sales and marketing, to take on the role of acting head to replace Lee Olesky, who has resigned to become president of TradeWeb Group and TradeWeb Europe. ...

Sun Microsystems Unveils Expanded Use of Linux.(Brief Article)
March 4, 2002... Sun Microsystems has slated a teleconference today, March 4, to tout its new commitment to Linux, the free and open-source operating system. Meanwhile, rival IBM, the longtime leader in offering Linux-based products, is taking the event in...

Industry Mulls CMU Links to FedWire, DTCC's RTTM.(central matching utilities, Real Time Trade Matching)
March 4, 2002... The securities industry has yet to determine how or whether the central matching utilities (CMUs) will supply matching data for trades that settle using the FedWire service, the Federal Reserve Bank's funds transfer and securities settlement...

SecFinex Adds Auction-Based Sec Lending System.(Brief Article)
March 4, 2002... Competition in the electronic securities lending arena heated up last week as SecFinex, the London-based platform, added an auction-based trading system. SecFinex's move represents the third type of securities lending model the...

Nasdaq Europe's Sanderson: Learning from Easdaq.(interview with Nasdaq Europe chairman, Michael Sanderson)(Interview)
March 4, 2002... Nasdaq Europe is seeking to increase its volume on the Continent, as it confronts a marketplace that is increasingly open to automated trading platforms but at the same time unwelcoming from a pan-European regulatory and infrastructure...

Cameron to Deliver FIX Messages Over SwiftNet.(Cameron Systems)(Brief Article)
March 4, 2002... Cameron Systems, the Melbourne, Australia-based FIX vendor, said last week it will deliver FIX messages over SwiftNet, Swift's IP network, as Swift moves toward the delivery of front-office messages. SwiftNet, which already has early...

Clearstream Posts 23-Percent Drop in Pre-Tax Earnings.(Clearstream International)(Brief Article)(Statistical Data Included)
March 4, 2002... Clearstream International's 2001 financial results released last week showed a 23 percent decline in pretax profit-as the result of lower business activity and extraordinary expenses totaling EUR28.9million ($25 million). Profit on...

Sungard Acquires Tradeline.com.(SunGard Data Systems)(Brief Article)
March 4, 2002... SunGard Data Systems has purchased Tradeline.com, a provider of international historical pricing and aggregated third-party data and a Web-based interface to analyze the data, from Platinum Equity, a private buyout firm. Tradeline.com, formerly...

ITG Expands Focus to Hedge Funds with Hoenig Buy.(Investment Technology Group, Hoenig Group)(Brief Article)
March 4, 2002... Investment Technology Group (ITG) said last week it plans to acquire Rye Brook, NY-based Hoenig Group, an institutional brokerage firm, for $115 million. ITG is making the acquisition because it's an effective way to immediately increase its...

Schwab, Merrill Choose PostX.(Brief Article)
March 4, 2002... Charles Schwab, which recently rolled out the PostX secure electronic communications offering in its retirement planning unit, is planning to deploy the offering across the entire company, according to PostX executives. Schwab will use the...

Iris Financial Adds Java Trading, Risk Technology.(Brief Article)
March 4, 2002... Iris Financial has redesigned its component-based trading and risk management software and core technology to run Java 2 Enterprise Edition [J2EE]. Beta testing is complete and a formal rollout is expected by April. An Iris spokeswoman...

Eagle Investment Systems Deepens Relationship With Oracle Corp.: Moves to Canada.(Brief Article)
March 4, 2002... Eagle Investment Systems announced last week the addition of Oracle Corp. as its newest Professional Services Channel Partner program member. Eagle, a Mellon Financial company, and Oracle have been working together for some time to deliver...

GTT Upgrades Its Dealer Order Management System.(Global Trade Technologies )(Brief Article)
March 4, 2002... Order management system vendor Global Trade Technologies last month unveiled Offer Publisher, a program that enables bond dealers to export their offerings to users of GTT's Bizbonds interface on a real-time or intermittent basis, an...

Romagest Goes Live With SunGard's Decalog.(Brief Article)
March 4, 2002... SunGard Investment Management Systems, an operating group of SunGard, announced last month that Rome-based Romagest, the asset management subsidiary of Bancaroma Group, has implemented SunGard's Decalog for straight-through processing. ...

Nasdaq Offers New Service To Help Boost Order Flow.(Brief Article)
March 4, 2002... The Nasdaq Stock Market last week launched Nasdaq Workstation WebLink, a new service aimed at helping market-makers boost order flow and revenue. Nasdaq said the service would be particularly helpful for small order-entry firms to route orders...

SS&C Unveils Equity Swaps System; Antares Links to Oasys.(SS and C Technologies)(Brief Article)
March 4, 2002... SS&C Technologies last week unveiled a new equity swaps module available on the buy-side vendor's debt and derivatives application. The news follows an announcement SS&C made earlier last month of linkages established between Thomson...

Athens Slates Group to Study Central Counterparty.(Athens Stock Exchange)(Brief Article)
March 4, 2002... The Athens Stock Exchange could soon be following the path of its European peers in establishing a central counterparty service. Greece's Central Securities Depository (CSD), part-owned by the ASE, is heading up a working group that...

Tel Aviv Exchange Links to DTC.(Depository Trust Co. )(Brief Article)
March 4, 2002... In its first ever connection with a foreign depository, the Tel Aviv Stock Exchange (Tase) Clearing House has electronically linked with the Depository Trust Co. to automate the cross-border settlement of shares of 15 Israeli companies listed...

Bear, Stearns and Company and Pershing Pick Up Sizable Correspondents.(Brief Article)
March 4, 2002... Bear Stearns is starting the new year swinging in terms of picking up new and sizable correspondents, with three moving onto its platform in recent weeks and two more planning to sign up with the clearing firm over the next week or two. ...

Canada's FMC Enters Matching Arena.(Statistical Data Included)
March 11, 2002... Canada's largest software house, Financial Models Co., is revamping its FMCNet post-trade communications network to develop the first Canadian central matching utility (CMU), ahead of any industry endorsement, company executives said last week....

Nasdaq Eyes IPO; Rivals Stall.(Brief Article)(Statistical Data Included)
March 11, 2002... Nasdaq may push for an initial public offering as early as this fall, which might represent the marketplace's best window of opportunity to raise capital before competition turns red-hot among the new exchanges. Before launching its IPO,...

Leaner FolioFN Picks Up New Clients.(Brief Article)(Statistical Data Included)
March 11, 2002... Despite several high-level executive departures, online brokerage and back-office provider FolioFN appears to be continuing to build its business, recently signing up a large international financial institution that is anticipated to lift the...

Biz Continuity PlansTake Shape: Will Decentralization Hurt NYC?(securities broker/dealer decentralization, New York City business)(Statistical Data Included)(Industry Overview)
March 11, 2002... When decentralizing operations, the question for broker-dealers has lately become: "How far is safe?" According to Gregory Ferris, executive director of global Business Continuity Planning (BCP) at Morgan Stanley, spreading processes and...

VPNs May Play Big Security Role.
March 11, 2002... Virtual private networks-or VPNs-are expected to play an essential role in securing operations for Wall Street trading firms post-Sept. 11, according to William James, CTO for Banc of America broker-dealer services, speaking recently at the...

Davies: Transparency Not The Only Concern For European Markets.
March 11, 2002... Speaking at a conference in London late last month, Howard Davies, chairman of the U.K. Financial Services Authority, discussed the issue of transparency for fixed-income securities. In the following excerpts from his presentation, Davies said...

Could CLS Have Stopped John Rusnak?(Brief Article)(Statistical Data Included)
March 11, 2002... The case of currency trader John Rusnak seems to be the born-again nightmare of the financial services industry, the second coming of Nick Leeson, the ING Barrings trader that brought down the firm in the late '90s. Rusnak was a...

Mantas Finds New Chief Exec at PwC.(Brief Article)
March 11, 2002... Mantas, a Fairfax, Va.-based provider of data-mining, anti-money laundering (AML) and best-execution solutions to the global financial services industry, said last week that former PricewaterhouseCoopers T+1 expert Simon Moss has joined the...

Compaq, Intel Push Wintel-based STP solutions.(Brief Article)
March 11, 2002... Compaq and Intel last week said they are teaming up on a project called "Compass" that aims to bring straight-through processing applications to the Windows-Intel platform and includes financial technology vendors Neoves, Netik and SunGard. ...

Blackbird Wins Patent for Risk-Monitoring Analysis.(Brief Article)(Statistical Data Included)
March 11, 2002... Blackbird, the fledgling electronic derivatives-trading platform, has been awarded what it said is the first patent for a broad-reaching methodology for monitoring the credit risk of electronic trading counterparties, which could put it in the...

MarketXT Trading Soars on SuperSoes With LightSpeed.(Brief Article)(Statistical Data Included)
March 11, 2002... MarketXT, a small electronic communications network that usually captured a mere 0.1 percent of Nasdaq's share volume, has been witnessing explosive growth over the past two months after launching a new platform, LightSpeed, and becoming the...

Sames Leaves Javelin for Reuters Consulting.(Brief Article)
March 11, 2002... Witold Sames, SVP of product development at Javelin Technologies, has left the New York City-based FIX vendor for Reuters Consulting. Sames resigned from his position in December and, after taking some time off, joined Reuters Group Plc's...

RIXML.org Anticipates Vendor Support, Version 2.0.(Brief Article)
March 11, 2002... In a move to consolidate its franchise as the standard for research delivery in the securities industry, RIXML.org, the consortium of buy- and sell-side firms that developed the research information exchange markup language, has added...

Island Hunts for Liquidity With Ad Campaign.(Brief Article)(Company Profile)
March 11, 2002... The Island ECN has launched a new ad campaign, with posters throughout Manhattan and commercials on CNBC, to thank the traders who turned the once-humble execution venue into the No. 1 electronic communications network. But the campaign also is...

BondVision Platform Expands into Corporate Debt Arena.(Brief Article)
March 11, 2002... Electronic trading in the B2C market for European fixed-income securities just got a bit more crowded, with BondVision, MTS' institutional trading system, expanding its product range into the corporate debt arena in direct competition with...

NYFIX Targets Europe for NYSE Services.(Brief Article)
March 11, 2002... NYFIX has acquired a 40-percent stake in Madrid-based EuroLink Network, which will market NYFIX's New York Stock Exchange-related services to the European market. EuroLink will be marketing NYFIX's front-end technology and order routing...

ING Eurasia Acquires CSFB's Russian Custody Business.(ING Bank Eurasia, Credit Suisse First Boston)(Brief Article)
March 11, 2002... The Russian custody arena just got a lot smaller, with ING Bank Eurasia, a subsidiary of the Dutch ING Bank, purchasing the Russian custody operations of Credit Suisse First Boston for an undisclosed amount to add $2 billion in assets to its...

Syntegra Launches ASP Sec Lending Service.(Brief Article)
March 11, 2002... Syntegra, BT's consulting and systems integration unit, has entered the securities lending arena with a new ASP accounting service in a technology alliance with Sphere, a U.K. IT shop. The reconciliation service, which will be available to...

Triple Point Rolls Out Power Trading ATS.(alternative trading system )(Brief Article)(Product Announcement)
March 11, 2002... Triple Point Technology last week launched Power XL, its next-generation alternative trading system for global electricity and natural gas markets. Triple Point Technology President Peter Armstrong said the deregulation of global...

Caplin Systems Raises Funds for R&D, Support.(research and development)(Brief Article)(Statistical Data Included)
March 11, 2002... London-based Caplin Systems has raised GBP6.2 million ($8.85 million) in venture capital funds that it plans to use for research and development, customer support and quality assurance. Caplin, a provider of real-time Web technology, raised...

Trema Finance Kit 5.1 Targets Mid-Sized Users.(Brief Article)(Product Announcement)
March 11, 2002... Trema Technologies has released a new version of its STP treasury and risk management solution, Trema Finance Kit, which it is using to garner several new users, including Swiss consultancy Ritro Treasury Services and IKB Deutsche...

Tibco Unveils Software for CMUs.(central matching utilities )(Brief Article)
March 11, 2002... Tibco Software is rolling out software this week designed to reduce the risks and costs associated with domestic and cross-border trade settlement, called Tibco Real-Time Trade Management for Financial Services. Tibco is launching the offering...

Romania Builds Infrastructure for Economic Reform.(Bucharest Stock Exchange, Rasdaq help economy)
March 11, 2002... Like many Eastern European nations, Romania's post-Communist road to economic reform has been bumpy. And central to that reform has been the creation of two stock markets: the Bucharest Stock Exchange (BSE) and, to a lesser extent, the smaller...

Thomson Targets Fixed-Income Clients With Reorg.(Thomson Financial reorganization includes appointment of Steve Lynner)(Brief Article)
March 11, 2002... Thomson Financial is making organizational changes to focus on its fixed-income strategy. The company has chosen Steve Lynner, president of Autex, to head the effort, and is integrating fixed-income offerings from various units within Thomson...

FT Interactive Data Tackles Fair Pricing of Funds.(new service)
March 11, 2002... FT Interactive Data, one of the world's largest market information vendors, last week unveiled the first outsourced service for synthetically pricing non-U.S. securities to meet the Securities and Exchange Commission's ruling that mutual funds...

Tokyo Exchange Endorses Jasdec Depository.(Brief Article)
March 11, 2002... As a stepping stone to one-day settlement, the Tokyo Stock Exchange has required that all exchange-listed shares must be settled in book-entry form at the local depository, Jasdec. The ruling applies to two stocks that were previously not...

Court Halts OM's 2x4 plan.(restructuring cannot continue)(Brief Article)
March 11, 2002... A Swedish civil court has ruled that OM cannot proceed with its restructuring of 2x4, a software company whose applications underpin OM's trading and clearing technology, opening the door to a possible bankruptcy for 2x4 and a sale of its...

TFM Launch Still Not Set.(transaction flow manager)(Brief Article)
March 18, 2002... The Global Straight-Through-Processing Association, widely expected to launch its transaction flow manager (TFM) model for straight-through processing in March, confirmed late last week that there would be no rollout this month and refused to...

Buyout Means Backing, New Focus For Javelin.(Brief Article)
March 18, 2002... Javelin Technologies, considered by many to be the largest vendor of FIX connectivity solutions, is entering a new phase in which it is seeking to reinvent itself-and secure additional cash-as it was acquired last week by electronic trading...

NYFIX Targets Buy-Side Growth With Acquisition.(Brief Article)
March 18, 2002... NYFIX's planned acquisition of Javelin Technologies will greatly widen the reach of the NYFIX order-routing network, according to Peter Kilbinger Hansen, CEO of NYFIX. In a conference call last week, Hansen said the acquisition will give the...

Amid Price War, Instinet Targets Island on QQQs.(Brief Article)(Statistical Data Included)
March 18, 2002... Instinet, the founder of the agency brokerage business, last week picked up the gauntlet thrown by discounter Island ECN and undercut its rival's pricing structure for trading the QQQs, the world's most liquid and heavily arbitraged security....

Quick FIX? FPL gets closer to BMA, seeks new members.(FIX Protocol Ltd. hires Jordan and Jordan and joins forces with Bond Market Association)(Brief Article)
March 18, 2002... In a move that amounts to a revamping of FIX Protocol Ltd. (FPL) and an attempt to boost membership beyond its traditional constituents, FPL has tapped consultancy Jordan & Jordan to study the possibility of the trade group expanding its core...

NQLX Names CEO, Cements NASD Reg Deal.(Thomas Ascher heads Nasdaq Liffe Markets)(Brief Article)
March 18, 2002... Nasdaq Liffe Markets (NQLX), the electronic derivatives alliance created to trade single-stock futures, announced the appointment last week of Thomas Ascher as its chief executive officer. Ascher, the former executive vice president of...

CFTC: futures markets Held up on Sept. 11 But Could Still Improve.(Commodity Futures Trading Commission)
March 18, 2002... Last week, the U.S. Commodity Futures Trading Commission released a report on the futures industry response to Sept. 11. Based on a survey of various segments of the industry, the CFTC found that while market participants' disaster-recovery and...

OM Fights to Keep Rights to AppMind.(Twobyfour Software AB)(Brief Article)
March 18, 2002... A recent decision by a Swedish civil court judge to stop OM's reconstruction of a software company now known as 2x4, whose application software it uses, has some OM clients wondering how the case might affect the Swedish technology vendor's...

Securities Industry News Wins Top B2B News Award.(American Business Media's 48th Annual Jesse H. Neal Awards)(Brief Article)
March 18, 2002... Securities Industry News last week won a national business journalism award for best news coverage for its reporting on the impact of the destruction of the World Trade Center on the people and infrastructure of the industry in an edition that...

Omiris Networks Clients Gain Access to Archipelago.(electronic communications network access)(Brief Article)
March 18, 2002... London-based order routing provider Omiris Networks last week said it has inked a deal with Archipelago, giving its clients access to the ECN provider in the United States. The agreement-Omiris' first publicly disclosed deal with an ECN-is...

Track Mulls Joining SuperSoes.(Brief Article)
March 18, 2002... The Track ECN, the new electronic communications network that made its debut on March 8, is mulling joining SuperSoes, where rival MarketXT has seen its volume soar since moving to Nasdaq's trading system on Christmas Eve. MarketXT's...

CSFB Selects Egenera for Linux Move.(Brief Article)
March 18, 2002... Credit Suisse First Boston has chosen Marlboro, Mass.-based Egenera to provide three of its BladeFrame Linux servers to initially support the firm's global order routing architecture, which processes an average of 35 million transactions per...

Blade provider Eyes Wall Street.(Brief Article)
March 18, 2002... ClearCube Technology, an Austin, Texas-based provider of centralized blade computing hardware to support the desktop, introduced a multimonitor strategy last month specifically aimed at the trading floor market. The vendor, which decided to...

Omgeo Cements Ties With EMC.(Brief Article)
March 18, 2002... Omgeo has tapped EMC to play a key role in its contingency planning, making the vendor one of the five pillars of the central matching utility's (CMU) technology foundation, said Omgeo CTO Gary Foster. The other major vendors are Oracle, Sun...

Linux system targets Infrastructure's Heart.
March 18, 2002... Linux is rapidly becoming the best-kept secret on Wall Street. Although few companies want to talk about it, many are reportedly using the open operating system to lower the cost of their Web infrastructure and to run high performance computing...

Boston Readies Filing for New Options Exchange.(Brief Article)
March 18, 2002... The Boston Stock Exchange is close to submitting to the Securities and Exchange Commission an exchange registration application for a new electronic options marketplace that it plans to form with the Montreal Exchange and Interactive Brokers...

Norway Mulls Changes in Central Depository Status.(VPC to become market-owned)(Brief Article)
March 18, 2002... Norway's central depository, VPC, could soon be changing its legal structure from a self-owned organization to market-owned in early 2003, under a new law proposed by the country's ministry of finance. The long-awaited law, which would...

Severini Joins Random Walk.
March 18, 2002... Ralph Severini has joined New York City-based Random Walk Computing as vice president for business development. In his new role at the financial technology consulting firm, Severini will manage Random Walk's global sales and marketing...

BlackRock Selects BNY ESI's TeamTrader System.(Brief Article)
March 18, 2002... Investment management giant BlackRock has implemented TeamTrader, an equities trade management system from BNY ESI & Co., the agency brokerage subsidiary of the Bank of New York. The announcement follows several deals done to boost the bank's...

Ironbark Builds Swap Objects, Tool Kit for FpML Version 2.0.(Brief Article)(Product Announcement)
March 18, 2002... Ironbark, a London-based IT vendor, has begun development of Swap Objects, a new FpML-compliant toolkit designed to facilitate the delivery of trade data in the Financial products Market Language, the messaging standard for OTC derivatives....

Eagle, Morgan Stanley Target Hedge Funds Biz.(Brief Article)
March 18, 2002... Eagle Investment Systems Corp., a buy-side software vendor, is venturing into the hedge fund arena, launching a new partnership and tax reporting capabilities package with the help of Morgan Stanley Prime Brokerage. The PT-plus system, set...

ADP Launches Foreign E-Proxy Voting Service.(Brief Article)
March 18, 2002... ADP Investor Communication Services, a subsidiary of Automatic Data Processing, last week officially unveiled an automated foreign proxy voting service under the new ICS Global label to replace a paper-based process and compete with ISS Global...

EasyScreen, H-P Ink Marketing Pact.(Brief Article)
March 18, 2002... London-based EasyScreen and Hewlett-Packard have signed a marketing alliance targeting major institutions that use or provide electronic exchanges or e-marketplaces. On EasyScreen's end, the deal involves a server product called EasyRouter...

PowerNet Connects to ECNs.(SunGard Trading Systems offers electronic communications network access)(Brief Article)
March 18, 2002... SunGard Trading Systems/Brass, a unit of SunGard Data Systems, is offering direct access to five electronic communications networks through PowerNet, its order delivery network for securities dealers, in a montage that could mean tough...

Nasdaq Floats SuperMontage Data Fees.
March 25, 2002... Nasdaq last week released proposed pricing for its new set of data packages. The market is introducing four data packages in conjunction with the rollout of its next-generation trading platform SuperMontage, expected to begin in July. Market...

GAO Study to Guide BCP Goals.(General Accounting Office, business continuity planning)
March 25, 2002... Even though the National Association of Securities Dealers (NASD) proposed the industry's first business continuity planning rule last week, it is the General Accounting Office (GAO), Congress' investigative arm, that will likely have the final...

Arca Takes Over: Pacific closes equities floor, keeps options.(Brief Article)
March 25, 2002... The Archipelago Exchange took over the Pacific Exchange's (PCX) equity operations last Friday as the regional exchange closed down its San Francisco trading floor, turning a page in the history of U.S. markets where all-electronic venues are...

SwiftNet FIX Messaging Hub Links to Big Board.(New York Stock Exchange connects to SwiftNet FIX hub)(Brief Article)
March 25, 2002... In a move that will strengthen the future convergence of Swift messaging and the FIX protocol and enhance the FIX capability of the New York Stock Exchange, Swift said last week that the Big Board has connected to the SwiftNet FIX hub. The...

Bye, Alex. Brown. Hello, New Clearing Focus.(Brief Article)
March 25, 2002... Deutsche Banc Alex. Brown-Deutsche Bank's North American brokerage business, which includes the firm's sizable correspondent clearing operation-plans to eliminate the latter part of its name on April 1, following a business realignment formally...

Toronto exchange ceo: canadian markets Need Aggressive reg strategy.(Barbara Stymiest addresses Canadian Club of Toronto)
March 25, 2002... Speaking at the Canadian Club of Toronto last Monday, Barbara Stymiest, CEO of the Toronto Stock Exchange and the Canadian Venture Exchange, discussed the need for an overhaul of Canada's securities regulation regime. In the following excerpts...

Margins Hold Up Single-Stock Debut.(Brief Article)
March 25, 2002... The start of trading for single-stock and narrow equity index futures, initially set for December 2001, remains up in the air as the long-banned products' joint regulators, the Securities and Exchange Commission and the Commodity Futures...