Latest issue

Apr 2010

• Citigroup’s launch of it PRISM tool
  [Note: This is a Q&A based off a story that ran in the April issue title "Looking Through the Prism", which appeared on page 12.
• NEWS IN NUMBERS
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• All Change
  The high-frequency debate is sure to run for quite some time due in the large part to the US Securities and Exchange Commission (SEC) bundling the practice of high-frequency trading with that of flash orders, which it did by way of James Brigagliano's testimony before the Senate Banking Subcommittee on Securities, Insurance, and Investment late last year.
• Waiting for the Cloudburst
  Although many industry participants are looking toward the various national regulators to determine how the industry will operate in the future, they should spend some time looking into their own datacenters for hints as to where things are heading from a technology perspective.
• Call Me Sentimental ...
  In a time when news outlets are being pulled toward in-depth analysis and commentary, I still feel a sentimental attachment to the "old" world of breaking news.
• Lime Branches Out
  Lime Brokerage is poised to take advantage of the rapid growth of high-frequency trading, broadening its stable of products and introducing new ones to meet the need.
• New or upcoming on the research agenda:
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• AlgoEngineering Launches Tech Startup
  Low-latency execution provider AlgoEngineering recently launched a new venture, Algo Technologies, which will turn the vendor's proprietary infrastructure into products and services for third parties.
• Savvis Strikes First Symphony Notes
  Network and datacenter host Savvis is preparing to deliver the first portion of its Savvis Symphony Virtual Private Datacenter (VPDC) offering sometime before the end of the second quarter, according to vendor officials.
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• Jason Stowe CEO, Cycle Computing
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• India’s Exchanges: The Gloves Come Off
  With the introduction of direct market access in 2008, electronic trading in India gained ground rapidly, boosting speed and improving execution while the Indian financial markets continued to expand.
• Looking Through the Prism
  Visualization tools are not new to the financial services industry, but they have evolved significantly since the first rudimentary applications emerged some five years ago.
• Intelligent is the New Smart
  Smart order routing technology is relatively new to the financial services industry, although we are already seeing the emergence of second-generation tools.
• MAD World
  The need to act in accordance with the Europe-wide Market Abuse Directive or risk facing criminal proceedings meant Danske Bank had to upgrade its manual compliance processes, and did so with an automated Actimize compliance platform.
• Katz Eyes the Competition
  Waters sits down with Christian Katz, CEO of SIX Swiss Exchange, to talk about the topical issues of data costs, the need for greater post-trade transparency and how the exchange is coping in an increasingly competitive market.
• Here Today, Here Tomorrow
  The practice of high-frequency trading has endured its fair share of criticism, although many would argue that a lot of this censure stems from ignorance and is therefore unfounded.
• Naked Truth
  "Unfiltered" access may well become a thing of the past as the SEC prepares to unveil new regulations limiting the practice.
• Will History Repeat Itself?
  The dust has started to settle now that the most acute phase of the financial services meltdown appears to be over, allowing market participants to assess their operational and technology deficiencies.
• Under Review
  Following the 2008 market collapse, 2009 was a year when asset managers regrouped in terms of portfolio performance and operational margins-which now stand at about 15 percent, on average, across Europe.
• Weathering the Storm
  The multilateral trading facility model could not have been conceived at a more turbulent time as global markets tanked on the back of the credit crisis, and investor sentiment plumbed new depths.
• Australia: Chi-X’s New Frontier
  Chi-X is planning a move to Australia’s sunny shores as it tries to cut into the Australian Securities Exchange’s monopoly.
• Warsaw Stock Exchange Seeks Partnership
  The Warsaw Stock Exchange (WSE) is reaching out to major stock exchanges from around the globe to see if there is interest in a partnership that would allow the bourse to upgrade its trading platform.
• LCH.Clearnet Clears CDS Index Contracts
  In a move aimed at creating more transparency in the over-the-counter (OTC) derivatives market, LCH.
• Rebound? IT Jobs May be Coming Back
  According to McGregor Boyall, a recruiting firm, IT jobs are coming back to England in the derivatives and foreign exchange (FX) markets.
• Arrivederci LSE
  Massimo Capuano has quit his job as the deputy chief executive at the London Stock Exchange.
• SunGard Taps StreamBase for CEP
  Major software and IT services firm SunGard has announced that it’s going to use StreamBase Systems’ complex event processing (CEP) technology for its Assent Liquidity Solutions and brass Order Management System.
• Deutsche Börse Gets in the Macro-news Game
  Over the past year, many firms have been working on enhancing or creating data feeds for machine-readable, macroeconomic news that traders can use for decision-making.
• Thomson Reuters and Palantir Team for Analytics Platform
  Palantir Technologies has agreed to create a financial analysis platform along with Thomson Reuters that will allow analysts to examine datafeeds, construct model portfolios, find patterns in data, test alpha strategies and work with other users.
• Kathleen Griffin Named CCO at SEC
  The US Securities and Exchange Commission has named Kathleen Griffin the regulator’s first-ever chief compliance officer.
• Thomson Reuters Launches High-Speed Data Distribution Network
  Thomson Reuters announced on Tuesday the launch of its new high-speed network and hosting environment, Elektron, that will allow hedge funds, asset managers, banks, brokerages and exchanges to access and share information.
• A Hedge on Currency
  Looking to help asset owners, Citi announced the launch of its AutoFX Passive Hedge service, which will give clients a tool to hedge their foreign exchange risk exposure.
• J’accuse! SocGen Trader Accused of HFT Code Theft
  Former Société Générale trader Samarth Agrawal has been charged with swiping the firm’s code for high-frequency trading.
• Fidessa Integrates US Options into EMS Workstation
  Fidessa is making a push into the US options space and will now allow for this asset class to be traded through its execution management system (EMS) workstation.
• ZSE Goes Live With Market Surveillance System
  The Zagreb Stock Exchange has gone live with 3i Infotech’s AWACS automated market surveillance system.
• Bloomberg, Interfax Team Up
  Russian-language newswire Interfax will release its news service on the Bloomberg Professional service.