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Southwest Securities Selects XSP for Corporate Actions Processing
Texas-based broker-dealer Southwest Securities has selected XSP to automate its corporate actions processing. As a result of the deal, the firm will roll out the XSP data management module and XSP’s Electronic Tracking Response and Notifications (eTRAN) module for automated notification, response capture and elections processing. Brendan Farrell, CEO at XSP, explains that the vendor…
LakeFront Data Ventures Jobs Website Attracting Industry Support, Claims LDV’s Richards
Following its launch at the end of last year, LakeFrontDataJobs.com has garnered 150 registered users and 30 job postings, according to Dale Richards, CEO of LakeFront Data Ventures (LDV). The site was launched just over two months ago as a web-based job connection service for financial data management and information professionals. Richards claims the portal…
Aite Group Predicts Average IT Budget Cut of 5% for 2009 for US Firms
Originally appeared in MiFID Monitor US financial services firms will experience an average technology budget cut of 5% for 2009, according to a recent report by consulting firm Aite Group. The report, which is based on surveys of 28 senior technology executives at a cross section of US-based capital markets firms, indicates that these firms…
Sun To Focus on Latency In Trading Applications Developer Workshop
Sun Microsystems is running a “Trading Applications Developer Workshop” on Thursday, January 22nd, at its New York City customer briefing centre. The workshop – with an emphasis on latency – runs from 8.30am to 1pm, followed by lunch, and is free to qualified registrants. Click here to register. Attendance is limited so register today. IntelligentTradingTechnology.com…
Merrill Corporation’s Schlanger Joins XBRL US Board of Directors
Originally appeared in MiFID Monitor Michael Schlanger, vice president of product management for XBRL at technology vendor Merrill Corporation, has been appointed to serve on the XBRL US board of directors. According to the vendor, Schlanger develops financial product strategies in response to client and regulatory needs and is on the leadership team guiding the…
European MTFs Continue Data Discussions for Pricing Service
Originally appeared in MiFID Monitor Following the announcement towards the end of last year that a group of European multilateral trading facilities (MTFs) would be working together to develop a common symbology system and pricing data service for European stocks, the group has indicated it is conducting meetings regarding the plans this week. The group,…
Brandes Investment Partners Implements Cadis EDM Solution
US-based investment management firm Brandes Investment Partners has finished the rollout of the Cadis EDM suite, which it selected with a view to more effectively managing its security, price and currency data. According to the vendor, the rollout was completed over a period of nine weeks. Brandes indicates that it opted for the Cadis solution…
Prime Source Adds Interactive Data’s Bond Evaluations to Valuations Service
NYSE Euronext’s valuations service subsidiary, Prime Source, has chosen to add bond evaluations from the Pricing and Reference Data business of Interactive Data to its valuations service. The vendor, which was established in February last year, hopes that the data from Interactive Data will enhance its multi asset-class portfolio valuations service. Prime Source’s service is…
Hedge Funds are Increasing their Scrutiny Of Counterparty Risk, Says Pershing and Aite Group
Managing counterparty risk has become a much more critical component of a hedge fund’s overall business operations today than it has been in previous years, according to a recently published white paper by Pershing and Aite Group. The report, which is entitled Risk and Reward: Hedge Funds Changing Views on Counterparty Relationships, focuses on the…
CESR Releases Statement Regarding Instrument Reclassification for Fair Value Accounting
Originally appeared in MiFID Monitor Following a request by the European Commission last October, the Committee of European Securities Regulators (CESR) has released a statement regarding the reclassification of financial instruments for fair value accounting. The regulatory body has worked in cooperation with the International Accounting Standards Board (IASB) to tackle the issues identified by…