Sell-Side Technology/Feature

How the Hell Did We Get Here?

Exactly 12 months ago, I had a bit of a rude awakening as I moved from a features-driven monthly to a news-driven weekly when I took over the editorship of DWT . Since then, the market has suffered its own rude awakening as well.

The Monster Mashup

After reading the latest industry journals and blogs, I am beginning to wonder if I am the only one who is really uncomfortable with the extent to which Web 2.0 technology has infiltrated the enterprise.

Exchange Consolidation: Act II

It is safe to say that global exchange consolidation has entered its second act, as tier-one bourses have begun acquiring secondary exchanges and trading venues.

Gentlemen, Start Your Engines

Now that the E.U.'s Markets in Financial Instruments Directive (Mifid) launch date is upon us, the race into the 21st century financial markets appears as if it will begin with a cautious start rather than a frantic land rush. Most firms seem to be…

STP Through the Front Door?

This spring, at an industry event, I learned of a new C-level title-the chief optimization officer. I didn't get to meet the person, but one of his colleagues told me that his role is to make sure that every trading system within the investment bank…

Turning Back the Clock

Now that we are in the midst of autumn, it is just a matter of a few short weeks before we in the U.S. turn back the clocks by an hour as we leave Daylight Saving Time and get that extra hour of sleep.

Nasdaq's New Toy

Ever since the Nasdaq Stock Market announced the purchases it made at the Boston Stock Exchange's (BSE's) estate sale the last week, one thing that puzzles many in the industry is what Nasdaq will do with its new clearing license.

Gaining Momentum

It's remarkable how quickly Swift has responded to the gauntlet thrown down by JPMorgan's Heidi Miller during her keynote speech in Atlanta in 2004. The industry cooperative's entire strategy for 2010 appears to be a response to questions posed during…

Life, the Universe and STAC

Selecting which new technology to adopt is often more of an art than a science for most investment banks. The lack of objective benchmarks has left departments making choices based more on personal relationships with salespeople than on the technology…

Making Hay While the Sun Shines

Speaking with financial technologists lately, most aren't too concerned about the sub-prime mortgage meltdown. "As long as you're making the bank money, it will take care of you," has been a common refrain.

So Passes the Old Order

A part of history ended last week as the Boston Stock Exchange, the third oldest exchange in the U.S. behind the Philadelphia Stock Exchange (PHLX) and the New York Stock Exchange (NYSE), closed its doors for equities trading after being in business for…

Microsoft to Do Turrets?

When Microsoft clears its throat, other vendors get nervous. With its recent acquisition of persistent group-chat vendor Parlano last week, Microsoft has added another key component for its unified messaging offering, Office Communications Server 2007…

Messing With Physics

I'm a bit of a documentary junkie. My favorite documentary writer and paroducer isn't Ken or Ric Burns, but science historian James Burke. His two series, Connections and The Day That the Universe Changed , presented seemingly unrelated scientific…

Nothing Good Ever Happens in August

I had planned to write about New York City's preparedness for a major storm after a bout of thunderstorms and a tornado left commuters wet, angry and mostly stationary last week. However, that truly pales in comparison to the storm affecting the credit…

Playing in Harmony

Everyone in the industry can all but agree that the days of the single-asset-trading exchange has gone the way of the open-outcry trading pit both have become quaint curiosities in the Internet age.

Making Global Warming Pay

The nice thing about capitalism is that no matter what happens, for better or worse, there is always a way to make a buck, or a quid, off it.

Paying for Mifid

Call me a cynic, but is there any firm in the industry that doesn't expect to write a large check to regulators once the Markets in Financial Instruments Directive (Mifid) goes into effect on Nov. 1?

Dark Pools on the March

When it comes to dark pools of liquidity in the equities world, the industry has had enough. Depending on which industry analyst's estimation you select, the more than 40 opaque trading venues are enough. I doubt that there were this many ECNs during the…

Making History

Today will go down as a major historical milestone. I'm not talking about commemorating 13 British colonies declaring independence, the merger of Upper and Lower Canada into the Dominion of Canada, or even independence of Argentina. No, today marks the…

Editor, Interrupted

I had planned to write this week’s letter on the U.S. market’s preparations for the July 9 Regulation NMS deadline, but when I learned that a car bomb plot was foiled outside our London office—which is located right in the middle of Haymarket—obviously,…

CEP Gains Ground

Attending last week's Securities Industry and Financial Markets Association's (Sifma's) technology management conference in midtown Manhattan, you couldn't help but notice the increased interest in complex event processing (CEP).

Let the Games Begin

This week, most North American financial technologists will descend on the Hilton Hotel in midtown Manhattan for the annual rite of passage: the Securities Industry & Financial Markets Association's (Sifma's) Technology Management Conference and…

If Not Now, When?

A little over a month ago at the DWT conference in London, a panel consisting of technologists from a number of major investment banks proclaimed the death of direct market access (DMA).

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