July 2008

COVER STORY

Wall Street Outsourcing to New, Exotic Corners of the Globe

Wall Street Outsourcing to New, Exotic Corners of the Globe
While India still rules the world of IT offshoring, China, the Philippines, Romania, Poland, Hungary, South Africa, Vietnam, Cambodia and even Iceland are starting to attract bigger pieces of Wall Street's IT action.
Sidebar
Niche Outsourcing Destinations
Eastern Europe, the Philippines, Vietnam, Malaysia and Iceland all are emerging as outsourcing destinations for Wall Street firms.

SPECIAL REPORT

Even C-Level Wall Street Execs Face Challenging Job Market
Already battered by massive job losses — from the C suite through the rank and file — Wall Street is likely to see more job cuts before the worst is over.

BUSINESS LINES

TRADING
Trading Desks Turn to Video Game Technology to Speed Analytics
Wall Street is exploring graphics processing units (GPUs) found in video games to speed up options analytics and other math-intensive applications.

OPERATIONS
Wesley Capital Management Moves Beyond Backup Tape
Wesley Capital Management brings business continuity online by outsourcing disaster recovery to specialty IT provider Eze Castle Integration.
Sidebar
SANs Offer Cost-Efficient Disaster Recovery Option
Storage area network technology can utilize any compatible server, allowing organizations to more effectively leverage IT spend.

Semantics Help Wall Street Cope With Data Overload
Investment research suppliers, including business information giants Dow Jones and Thomson Reuters, are employing semantic technologies as a financial research tool, turning data into information for Wall Street clients.

FOCUS ON

Automated Software Development Monitoring Helps Credit Suisse
Improving software quality and deliverables for equities IT moves Credit Suisse to adopt software quality assurance monitoring technology from CAST.

INDUSTRY VOICE

Deploying Technology to Conquer Your Compliance Demons
By Ted Tsung, CEO, E*Assist
A well-thought-out strategy that leverages technology and good business practices potentially can automate 20 percent of compliance administrative tasks.

PERSPECTIVES

Clearing and Settlement Top-of-Mind for Front-Office Execs
In addition to the excitement in the U.S., the real focus is occurring in Europe, where the EC is trying to get the fragmented clearing and settlement infrastructure players to play nicely in the sandbox.

FROM THE EDITOR

I Hope I'm Wrong About Rising Unemployment Statistics
The data trends surrounding unemployment rates are scary. In fact, I'm secretly hoping that recent predictions turn out to be false.

UP FRONT

SOA Threatens Security
With customers accessing systems themselves through Internet banking and other self-serving channels, core systems are vulnerable to security threats.

Firms Resist Outsourcing Content Security
New AIIM survey shows that firms are reluctant to adopt an out-of-house model for content security.

Exchange Fee Confusion Abounds
Investment banks' confusion over the exchanges' widely disparate market data fee structures exposes banks to hidden costs and fines.

Transition Managers Become Increasingly Popular
Transition managers are now charged with 45 percent of all mandates to mitigate risks associated with moving portfolios, TABB Group reports.

Stopping ID Theft With Biometrics
Accenture recommends the use of biometric solutions — specifically, fingerprint readers — to prevent identity theft.

Quantitative Analysis Could Have Helped Investors During the Subprime Crisis
Quantitative analysis to determine the return distribution of funds could have helped investors actually earn a return during the subprime crisis, Riskdata reports.

Older Advisers Just as Likely to Tap the Web as a Business Tool
A new report dispels the myth that older advisers spend less time using the Web as a business tool than their younger colleagues.

PRODUCT WATCH

MEGA Enhances Its GRC Suite
Version 3.0 of MEGA International's governance, risk and compliance software offers solutions designed to appeal to different types of users and ensure integration with current systems.

SunGard Introduces New Compliance Module Within Asset Arena
Asset Arena Compliance improves compliance workflow and data management from the front to the back office.

CyberTech Releases New Call Center Monitoring Solution
CyberTech Pro 5.1 enables the simultaneous recording and replay of PC monitors and telephone calls.

SHIFTING GEARS

Ex-ICAP Chief Jack Jeffery Joins SuperDerivatives as COO
Jeffery will drive the development, refinement and execution of the company's business strategies.

NYSE Euronext Hires Former Lehman Brothers Exec
NYSE Euronext Advanced Trading Solutions appoints former Lehman Bros. chief administrative officer Benjamin J. Chrnelich SVP and chief administrative officer.

Wachovia Hires BNY Vets
Thomas F. Scaturro was managing director and head of sales for BNY Mellon Wealth Management's tristate region, while John M. Dowd was wealth management director for Wachovia Wealth Management's northeast region.

KEEPING TABS