March 2008

The Future of SOA on Wall Street

The Future of SOA on Wall Street
Many Wall Street firms are refining their SOA architectures and taking them to the next level. Executives at JPMorgan, Merrill Lynch and Comerica share their insights.

Wall Street Firms Building More Energy-Efficient Data Centers
Financial institutions increasingly are employing new technologies to improve the efficiency and environmental friendliness of their data centers.

Energy-Efficient Hardware Reduces Data Center Energy Consumption
Cassatt's Active Power Management software reduces energy consumption in the data center by turning off servers when idle.


Wachovia Adopts Entitlement Management Solution
Wachovia adopts a new breed of entitlement management solutions for fine-grained, enterprisewide access control across heterogeneous platforms, systems, applications and files.

Is the Risk Manager to Blame for the Subprime Crisis and the Societe Generale Scandal?
In the aftermath of the credit crisis and the Societe Generale fraud, the spotlight -- and much of the blame -- has fallen on the risk manager. But most experts agree that a combination of poor data, inadequate technology and a lack of enterprise controls are equally to blame for the risk management failures.

Societe Generale Fraud: A Timeline of Events
The Societe Generale fraud began to surface in 2007 when junior trader Jerome Kerviel's losses started to materialize.

World's Biggest Bank Frauds
The Societe Generale $7.14 billion fraud is the most recent in over a decade's worth of major bank fraud.

DTCC Streamlines Managed Accounts
DTCC launches Managed Accounts Service to streamline communications among investment managers, sponsors and service providers.

A Practical Guide to Implementing the Global Investment Performance Standards (GIPS) for Asset Managers
Adhering to GIPS is in the best interest of any investment firm that wants to compete effectively and fairly. It helps build a framework for implementing industry best practices while helping engender the trust of prospective and current clients.

Tips & Tricks for Building Composites
Avoid having too many composites by focusing on the firm's primary mandates. If there are a lot of unique accounts left over without a composite, you can create single-account composites or expand your firm's definition of discretion.

Twelve Steps to an Effective GIPS Compliance Program
There are several things financial firms can do to develop an effective Global Investment Performance Standard (GIPS) program.

Wall Street Changes Are Visible
Citi may become a takeover candidate. IT spending cuts are looming. Financial products are becoming more exotic. What's next for the Street?

Societe Generale-Type Fraud Could Happen Again
Societe Generale rogue trader Jerome Kerviel wasn’t a tech genius; but poor risk controls allowed him to cover up his fraudulent trades.

Stock Exchanges and ECNs Fight for Liquidity
TABB Group reports that faster ECNs are leveraging aggressive pricing models to build equity volume.

Offshore Outsourcing of IT Positions Loses Popularity
According to a recent survey, 94 percent of participating CIOs say their companies currently are not outsourcing technology positions outside the U.S.

More Financial Firms Join Industry Consortium Trade Ideas
London-based utility Trade Ideas Limited (TIL), established by Citi, Credit Suisse, Dresdner Kleinwort and Merrill Lynch, reported an increase in membership of 88 percent in 2007.

Compliance Costs Grow Faster Than Net Income
Compliance costs are eating up more and more net income, growing from 2.83 percent of net income in 2002 to 3.69 percent in 2006.

Aite Reveals Top 10 Investment Trends
Hot topics in 2008 include OTC derivatives processing, international market fragmentation, and corporate actions processing.

Ineffective Access Management Poses Risk to Businesses
Employees have too much access to information, according to a new Ponemon survey.

Bird Flu Pandemic: Will Telecommuting Work on Wall Street?
While most large financial institution firms plan to rely on telecommuting in the case of a pandemic - new results of a financial industry drill show that few employees actually did telecommute at all.

Ecora Releases New Auditor Professional
Auditor Professional 4.5 discovers, collects, analyzes and reports on configuration data from a company's infrastructure.

Reuters Releases Data Feed Direct for OPRA
RDFD offers high-performance exchange feed connectivity, as well as daily reference data maintenance and hardware, software and service monitoring.

Weather Derivatives Traders Get Starter Kit
YellowJacket, Risk Management Solutions and MDA EarthSat Weather combine their offerings to create a suite of services designed to enhance weather trading operations.

FundQuest Hires Prescott
Leslie Prescott will lead the development of FundQuest's Retirement Management Solutions platform, which enables financial advisors to deliver advanced planning, implementation, and monitoring services to their clients.

TABB Group Promotes Sussman
Adam Sussman says one major industry trend he will be focusing on as research director at TABB Group is the significant increase in buy-side derivatives trading.

SIFMA Appoints Tim Ryan CEO
Tim Ryan was vice chairman of investment banking for financial institutions and governments at JPMorgan before joining the Securities Industry and Financial Markets Association (SIFMA).