Tech
Retiring Industry Veteran Cutrone Reflects on the Past—and the Future
After more than four decades in the capital markets, Lee Cutrone is retiring. He talks with Anthony about the highs, the lows, and what he’ll miss once he's out of the business—namely, T+2, or even T+1, settlement cycles.
Chilean Electronic Stock Exchange Rolls Out Nasdaq OMX Platform
Chile's stock exchange, Bolsa Electronica de Chile, has gone live with Nasdaq OMX's X-stream trading platform.
Newedge Rethinks Organization in Major Restructure
Futures broker Newedge has announced plans for a wholesale reform of the way it operates its business, in light of adverse market conditions.
SEC Loses Chief of Staff in Latest Departure
The US Securities and Exchange Commission (SEC) has announced the resignation of its chief of staff, Didem Nisanci, in the latest of a series of losses that has claimed some of its most senior figures.
Broadridge, Schwab Team on Mutual Fund Analytics Portal
Charles Schwab has launched a new portal—dubbed Schwab Asset Intelligence, or SAI—that will provide mutual fund firms with fund asset and sales information. Schwab partnered with data management vendor Access Data, a Broadridge Financial Solutions…
VTB Capital Investment Management Implements Charles River IMS
Moscow-based VTB Capital Investment Management has gone live with Charles River's Investment Management Solution (IMS) Version 9.
Brown Brothers Harriman Hones Automated ETF Portal
US private bank Brown Brothers Harriman’s (BBH’s) exchange-traded fund (ETF) portal suite, ETF Connect, will see fund sponsors, authorized participants (APs) and BBH—acting as administrator and custodian—manage exchange-traded fund operations through a…
StatPro and Pacific Fund Systems to Offer Calculations
Users of PFS-Paxus, the share registry, fund accounting, and allocations platform of Hong Kong-based hedge fund tech provider Pacific Fund Systems (PFS) will now be able to perform online portfolio analysis and Value-at-Risk (VaR) calculations through…
ASIC Picks First Derivatives Platform for Market Surveillance
The Australian Securities and Investments Commission (ASIC) has chosen Delta Stream from Northern Ireland-based technology vendor First Derivatives as its new market surveillance system.
Bursa Malaysia Selects Nasdaq Tech
Nasdaq OMX has announced that its X-Stream Inet technology will power securities trading at Bursa Malaysia.
Linedata Releases Icon Upgrades
Technology vendor Linedata has released the latest upgrades for its fund accounting and administration platform, Icon.
CEO Brodsky Steps Down at CBOE
William Brodsky, chairman and CEO of CBOE Holdings, will step down as CEO following the Annual Meeting in May 2013 to assume the role of executive chairman of the board. Brodsky, who has served since 1997, took the company public in 2010.
SS&C and Abacus Pair Up on Connectivity
Connecticut-based SS&C Technologies has teamed up with Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, to provide investment firms hosting their platforms on the AbacusFLEX private cloud with a turnkey global FIX…
Instinet Adds Multi-Strategy to Commission Management Tool
Agency-only broker Instinet has launched an enhanced version of Plazma, its multi-asset commission management platform.
Orc Launches Pre-Trade Risk Management Tool
Swedish technology provider Orc has launched a new solution to help banks and brokers to monitor pre-trade risk.
Rule Financial Signs OTC Specialist
Capital markets consultancy Rule Financial has announced that Derek Perry will join the company as a management consultant, and over-the-counter (OTC) clearing specialist.
DSF Deploys Orange
Paris-based broker DSF Markets has rolled out Orange's Open Trade system alongside the telecoms company's voice recording solution.
CounterpartyLink Releases KYC Compliance Index
Legal entity intelligence firm CounterpartyLink, also known as CPL, will make a know-your-client (KYC) compliance index, as well as deeper beneficial ownership information to 10 percent levels, available on its web-based service, CPL Online.
Fidelity Unveils Buy-Side Execution Venue, Plans Dark Pool 'Scorecard'
Fidelity Capital Markets, the institutional trading division of Fidelity Investments, has launched a new execution venue dubbed the Block Liquidity Opportunity Cross, or BLOX. The venue is a carved-out section of CrossStream, the firm's alternative…
Sapient Approved as Eris Training Partner
Boston-based Sapient Global Markets has been certified as an Implementation Partner by Eris Exchange, the Chicago-based futures exchange aimed at the OTC derivatives market.
Nasdaq OMX Acquires 25 Percent of TOM
Nasdaq OMX has acquired 25 percent of The Order Machine (TOM), a Dutch cash equities and equity derivatives trading venue.
Citi Joins with Tradable for FX
Foreign exchange (FX) platform Tradable has announced a partnership with Citi, which will allow brokers on its platform to transact with the bank through its CitiFX TradeStream.
Iowa BD Turns to SunGard for Social Media Surveillance
Iowa-based broker-dealer Berthel Fisher & Company Financial Services announced today its adoption of SunGard's Protegent Social Media Surveillance for regulatory compliance and monitoring of its advisors' online activity.
Infrastructure, Optimization Tools Imperative for New Swaps Execution
A modernized US swaps market portends benefits as well as costs for the buy side. But most of all, experts say, it means building technology that can cope─independently─with change.