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August 30, 2012
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News for operations and technology executives in financial services

  Top Story 
 
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Operations Update 
  • Banks' operational risk starts to eclipse credit risk
    Operational risk is increasing to the point that it is a greater challenge for banks than credit risk, experts say. Sometimes called transactional risk, operational risk is defined as "the risk of loss resulting from inadequate or failed processes, people, or systems." There is no line of business in banking that isn't vulnerable to operational risk. Bank Systems & Technology (8/16) LinkedInFacebookTwitterEmail this Story
  • Analysis: Defining risk is tricky, but it must be done
    There is no easy way to define risk, but organizations must seriously confront the issue. Coming up with a meaningful definition of risk for any entity will depend a lot upon the organization's appetite for risk. What is optimal for one organization may be to risky, or insufficiently risky, for another one. Business Finance (8/21) LinkedInFacebookTwitterEmail this Story
  • With sale on horizon, LCH.Clearnet installs a new CFO
    LCH.Clearnet has hired Oliver Corbett, most recently finance director at insurer Novae Group, as its chief financial officer. The latest management change at the European clearinghouse comes as it is about to sell itself to the London Stock Exchange Group. Corbett takes over from interim CFO Jeffrey Hughes, who will depart, LCH said Aug. 23. Reuters (8/23), Financial News Online (U.K.) (subscription required) (8/23) LinkedInFacebookTwitterEmail this Story
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  Technology Update 
  • Cloud computing is now fundamental to NYSE Euronext technology
    NYSE Technologies Chief Technology Officer Don Henderson said cloud computing is now central to the firm's approach to technology, for internal processes as well as service to its customers. "At NYSE Euronext, not only have we embraced cloud computing as a foundation for our corporate IT strategy, we're extending that value to financial services organizations looking to modernize their individual IT operations, leveraging VMware cloud technology and expertise to offer the financial industry’s first community cloud," Henderson said. Securities Technology Monitor (8/27) LinkedInFacebookTwitterEmail this Story
  • Pneuron takes new approach to databases for Big Data
    Technology startup Pneuron is working on a way to give traders access to the benefits of Big Data without taking on the time and expense of building their own, huge databases. Pneuron's approach is to inject code into existing databases that would open the door for traders and other financial firms to access the data in those databases through a network. Securities Technology Monitor (8/28) LinkedInFacebookTwitterEmail this Story
  Regulatory and Legislative Update 
  • SEC gets serious about cyberattack disclosures
    For Amazon, Google and other companies, guidelines from the Securities and Exchange Commission on when cyberattacks should be disclosed have essentially become rules, according to agency letters. "It's not a rule, but the SEC, by taking a policy position, can effectively create a rule," said former SEC lawyer Peter Henning. "It lets companies know what it would like to happen." Register today for SIFMA's Cybersecurity Symposium, Oct. 3 in New York City. Bloomberg (8/29) LinkedInFacebookTwitterEmail this Story
  • Other News
  SIFMA News 
  • SIFMA Market Structure Conference 2012 -- Oct. 4 -- NYC
    The program is out for the SIFMA Market Structure Conference, where SEC Commissioner Daniel Gallagher will be a featured speaker. In addition, Gregg Berman, SEC Senior Advisor to the Director of the Division Trading and Markets; Joseph Mecane, NYSE Euronext EVP and CAO for U.S. Markets; and Susan Wolburgh Jenah, President and CEO, Investment Industry Regulatory Organization of Canada will be just a few of the A-list panelists for this must-attend event. Program topics include: Market Volatility; Algorithmic, High Frequency, and High-Speed Trading; Single Stock Circuit Breakers/Limit Up-Limit Down Mechanism; Market-Wide Circuit Breakers; Large Trader Reporting and much more. LinkedInFacebookTwitterEmail this Story
  • SIFMA FATCA Symposium -- Oct. 16 -- NYC
    Once the rules implementing the Foreign Account Tax Compliance Act (FATCA) are finalized and become effective, the 2010 law will fundamentally alter the relationships financial firms maintain with their clients and each other. Join us for SIFMA's FATCA Symposium, where key regulators, industry leaders and tax experts will offer an in-depth analysis of the latest published guidance and provide practical insights as to how to best comply with and implement the regulations within your organization. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Nearly all men can stand adversity, but if you want to test a man's character, give him power."
--Abraham Lincoln,
16th U.S. president


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