Buy-Side Technology - 2009-02-01

Manulife selects Broadridge's Dataphile platform

Canadian broker-dealer, Manulife Securities, a division of Manulife Financial, has implemented Broad-ridge Financial Solutions' Dataphile platform for over 1,500 advisors in both its securities and mutual funds businesses. Manulife Securities acquired…

Month in Numbers

"That's happened pre- and post-Amaranth, and it's been big hedge fund shops posting losses as well as small ones. Have they learned from Amaranth? Of course not"

The $35,000 toilet bowl

At last, a fitting symbol of the unfortunate combination of malfeasance and stupidity crippling the financial services industry and pushing the world to the brink of economic depression: former Merrill Lynch chief executive John Thain, freshly relieved…

Quod unveils buy-side SOR offering

Trading software vendor Quod Financial is testing a new smart order routing system for buy-side firms that will integrate post-trade data from exchanges and other trading venues including dark liquidity pools.

There will be risk

Energy and commodities markets provided no safe haven for buy-side firms last year. Abysmal performances combined with higher margins and mounting investor redemptions could be chalked up to the fact that 2008 punished the financial industry…

Thomson Reuters fights fragmentation

Thomson Reuters last month unveiled two new initiatives to tackle the fragmentation of market data that has taken hold in Europ-ean markets since the introduction of Mifid in November 2007.

PG Capital Management goes live on Advent ABOS platform

PG Capital Management, a Washington, DC-based manager serving high-net-worth clients, is live on Advent Software's Advent Back Office Service (ABOS) for hosted back-office and data management capabilities, allowing PG Capital to focus more on its client…

New battle lines

If there's one thing I've learned about stock exchanges, it's that they love numbers. Usually record-breaking numbers. No matter how negative or doom-laden a set of financial results may be, exchanges nearly always manage to spin them so that somewhere,…

Celent report: IT spending down in 2009, moderate growth in 2010

According to a new report from Boston-based consultancy Celent, IT spending in financial services: A global perspective , institutions globally will spend $353.3 billion on IT during 2009. This is a 1.3% decline compared with 2008, and is markedly lower…

Coming of age

John Comerford spent many years on the buy side in a variety of roles relating to trading, technology, and portfolio management, before he jumped ship to join Nomura and then Instinet, where he is now global head of trading research, based in San…

Bloomberg unveils new portfolio analytics

Bloomberg has added an analytics tool to its suite of buy-side trading systems that includes POMS (Portfolio Order Manage-ment System) and POMS-AI (Portfolio Order Management System for Alternative Investors).

Spotlight on Fred Jacobs

Financial software and services developer SS&C Technologies recently hired fund ad-ministration industry veteran Fred Jacobs to head sales for its own fund administration unit, SS&C Fund Services. He discusses the parameters of his new role, as well as…

Thomson Reuters expands news analytics

Thomson Reuters has unveiled a machine-readable news offering allowing clients to incorporate news into their trading and risk management strategies. The product, NewsScope Event Indices (NEI), is targeted at hedge funds and investment banks pursuing…

Born to perform

Since its inception just under nine years ago, BI-SAM has been quietly going about its business focusing on performance and attribution, risk, and reporting functions for buy-side firms. It is therefore no surprise that the Paris-based vendor has added…

CSAs set for dramatic change

The demise of Lehman Brothers in September last year was a wake-up call to asset managers and other investors that the single-broker aggregator model for managing commission sharing agreements (CSAs) has its flaws. Reliance on a single equity broker to…

Celent anticipates 20% decline in hedge fund IT spending

Hedge funds and funds of hedge funds will reduce their technology spending by more than 20% during 2009 as the industry continues its unprecedented contraction. A new Celent report expects that technology initiatives for the near term will entail…