IBM Supplying Risk System to Chinese Securities Firm

IBM Corp. is building a risk management system for Guotai Junan Securities in collaboration with Algorithmics, a Toronto-based provider of enterprise risk solutions. IBM says that the risk system for the Shanghai-based brokerage is its first for a Chinese securities firm. Implementation has begun, according to Colin Lawrence, IBM’s China risk management leader. “The first […]

The Regulatory Bind of Social Networking

Under new guidelines from the Financial Industry Regulatory Authority on the use of social networks, securities firms must keep copies of all business-related communications on social networks, whether those communications are official or from “associated persons.” But the securities industry’s largest self-regulating body also admits that the technology to grab those messages might not exist. […]

Oracle Closes in on Sun, Wall Street Worries

Let the worries begin. The European Commission Thursday approved the $7.4 billion merger between database giant Oracle and long-time Wall Street denizen Sun Microsystems. “I am now satisfied that competition and innovation will be preserved on all the markets concerned,” Competition Commissioner Neelie Kroes said in a statement. Sun has historically been a powerhouse in […]

Clock is Ticking on London Exchange

Since 2007, 18 new electronic competitors, most known as multilateral trading facilities, have emerged to challenge the London Stock Exchange for trading shares of the 2,825 international and domestic companies listed with it. One, Chi-X Europe, has taken away nearly a fourth of the trades, by recent count. The London exchange contends it’s not losing […]

SIX Swiss Exchange shut down by technical glitch

All trading on the SIX Swiss Exchange was halted Thursday afternoon due to a technical malfunction, the exchange reported. The shutdown also affected Scoach Switzerland Ltd. Trading was halted at 2:43 p.m. Normally, trading runs until 5:30 p.m. According to the exchange, the cause of the incident was identified, but the exchange did not specify […]

Nasdaq Launches Social Networking Site and iPhone Application

The Nasdaq OMX Group, Inc. entered the Web 2.0 age this week with a new social networking site. The exchange also launched an application for the iPhone that allows users to track stocks and stock-related tweets. The social network – accessible at – allows users to rate stocks and see how their friends rate […]

Wringing Trading Delays Out of the Clouds

Commodity trading firm Kottke Associates has watched high-frequency trading applications move from traders’ workstations onto company servers and into co-location facilities, where they sit close to matching engines of the Chicago Mercantile Exchange and other venues. To take part, Kottke has used services which host its software and data on remote servers or provide connections […]

Morgan Stanley May Sell Back-Office Unit in India

Morgan Stanley may sell all or part of its India-based back-office unit to an Indian company like Infosys or Wipro, according a report in India’s Economic Times newspaper, which quoted unnamed sources “familiar with the development.” The unit — worth an estimated $150 to $200 million, according to the newspaper — handles IT development for […]

U.S., European Exchanges Looking to Emerging Markets For Growth

U.S. and European exchanges – facing increasing numbers of electronic rivals on their home turf – are looking to emerging markets, for growth. Nasdaq is currently in negotiations with Brazil’s BM&FBovespa, the world’s fourth-largest exchange operator by market value. Meanwhile, both the London Stock Exchange and NYSE Euronext are reportedly looking to invest in MCX-SX, […]

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