Top Stories

CFA Institute Offers “Strong Support” for Key Items in Senate Bill

March 16, 2010 - The CFA Institute, the association that administers the CFA exam program worldwide, said today that it supports critical areas of the new Senate Banking Committee bill on financial regulatory reform.

Nasdaq OMX Appoints Mellon Vet VP of Transaction Services

March 16, 2010 - The Nasdaq OMX Group has appointed Mary McDermott-Holland as vice president of Nasdaq OMX Transaction Services, effective April 6.

Technology 'Bar' May Lead to Consolidation of Hedge Funds

March 16, 2010 - The technology ‘investment bar’ required to meet investor and regulatory requirements from financial system reforms may be high enough to lead to consolidation of hedge funds, according to a synopsis of discussions held at the Global Hedge Fund Forum in New York and London this year.

Goldman Sachs Launches Algorithmic Access Service

March 15, 2010 - Goldman Sachs Electronic Trading has launched a service that offers customers a single point of access to Goldman Sachs trading algorithms, the company said Monday.

Financial Engines Goes Public, Tries to Rise $109 Million

March 15, 2010 - Financial Engines, which tries to automate the provision of expert investment advice, hopes to raise $109 million from a public offering of its stock this week

Crisis Shifts Focus to Middle- and Back-Office Work, ISITC Survey Says

March 15, 2010 - The economic crisis has opened up opportunities for innovation in the middle and back office, according to a survey of securities industry executives.

Ratterman: Equities Markets "Shining Example" of Reliability

March 15, 2010 - The chief executive of a developer of lightning-fast electronic exchanges said Monday that equities markets are a "shining example" of resilience and efficiency, through the financial turmoil of the last three years.

Direct Edge Says Its Networks Approved as Exchanges

March 14, 2010 - Direct Edge said the Securities and Exchange Commission has approved its applications to grant exchange status to its two electronic trading systems, EDGA and EDGX

Weber Capital Management Charged in Forex Scheme

March 12, 2010 - The Commodity Futures Trading Commission filed a complaint on Thursday against Weber Capital Management of Scottsdale, Ariz., charging Weber with operating a fraudulent off-exchange foreign exchange scheme.

Morgan Stanley Launches Portfolio-Level Trading Algorithm

March 12, 2010 - Morgan Stanley has launched a trading algorithm that enables the implementation of multiple portfolio level instructions such as risk neutralization and cash balancing.

Investment Fund Automation on Rise in Luxembourg

March 12, 2010 - Processing of orders for investment funds in Luxembourg – Europe’s largest cross-border market – is becoming far more automated, but there is still plenty of manual intervention, according to a recent survey.

ConvergEx Offers Eze OMS Clients LiquidPoint Access

March 11, 2010 - ConvergEx Group said today that users of its order management system, the Eze OMS, now have integrated access to LiquidPoint’s latest options execution and routing technologies directly from the OMS blotter.

Trading On and Off Balance Sheet? Keep Track on “Treasury-in-a-Box"

March 11, 2010 - A technology consulting firm in India Thursday said it introduced an integrated front, middle and back office system for administering the buying, holding and selling of on-balance-sheet and off-balance-sheet financial instruments.

C & R Financial Charged in Alleged Forex Ponzi Scheme

March 11, 2010 - The CFTC said it charged C & R Financial and Willie L. Cloud, Jr., both of Houston, Texas, with operating a Ponzi scheme in connection with foreign currency (forex) trading.

Linux: Big With the Bulge Brackets

March 11, 2010 - The open-source software Linux has become by far the most-widely used operating system among the largest firms on Wall Street, according to a presentation made Thursday by Tabb Group analyst Kevin McPartland.