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January 17, 2013
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News for operations and technology executives in financial services

  Top Story 
 
  • Wall Street aims to get more for less from IT infrastructure
    Responding to regulatory burdens as well as declining trading revenues, Wall Street's capital market firms are looking for way to cut IT infrastructure costs without giving up capabilities. "The general theme is more for less," said Mark Akass, chief technology officer of BT's Global Banking and Financial Markets, a unit of BT Radianz. Registration is open for SIFMA Tech 2013. Stay tuned for the robust program for this event! Wall Street & Technology (1/10) LinkedInFacebookTwitterEmail this Story
High-Availability Storage: Zero Tolerance for Outages
High-availability (HA) systems eliminate single points of failure and minimize downtime in data centers serving capital markets firms. Server operating systems, iSCSI or Fibre-Channel storage area networks and solid-state drives could all fit the bill when it comes to HA systems. Read our FREE WHITE PAPER to find out more about these HA solutions.
  Operations Update 
  • Risk management looks beyond single order, Goldstein says
    In the capital markets, risk management means taking a broader view than just focusing on a single transaction, said Neal Goldstein, JPMorgan's managing director of electronic execution. "The real trend here is the recognition that effective risk management is not only about the individual order but also the cumulative effect of a client's intra-day position on settlement exposure, credit and leverage," he said. Wall Street & Technology (1/14) LinkedInFacebookTwitterEmail this Story
  • CME and DTCC disagree over data destinations
    CME Group and Depository Trust & Clearing continue to disagree over who gets to share data required by regulators and recently made available to the public. Because CME is a clearinghouse in addition to a data repository, it says that it should be permitted to record its own proprietary swaps. DTCC says such an arrangement violates transparency rules. Reuters/International Financing Review (1/11) LinkedInFacebookTwitterEmail this Story
  • Nasdaq cuts prices for "co-located" cabinets up to 50%
    Responding to the intensifying competition among exchange operators for the business of trading firms, Nasdaq OMX Group is offering reduced pricing for "co-located" order-engine cabinets during the first quarter of 2013. The discounts range from 36% for high-density cabinets to 50% for low- and medium-density cabinets. "Density" is based on the cabinet's power consumption. Securities Technology Monitor (1/14) LinkedInFacebookTwitterEmail this Story
Get It Right: Pricing Strategies That Work
Many entrepreneurs hope for success by offering low prices, while in fact most world-class entrepreneurs succeed by setting higher prices. If you're not exactly sure which pricing strategy will work for your business, these 6 steps can help you set your company's prices for success. Read the exclusive article now.

  Technology Update 
 
  • Handling market data becomes excessively complex and expensive
    Capital market firms have been putting together their own systems for managing market data at ever-greater speeds for several years now and those system are becoming burdensome to operate. Several third-party vendors offer more efficient options for coping with market data and can help financial firms reduce their costs and enhance performance. Wall Street & Technology (1/11) LinkedInFacebookTwitterEmail this Story
Building Workplace Trust 2015
Interaction Associates' 6th annual research study tracking trust on the job, Building Workplace Trust, is out, and more than half of employees surveyed give their organizations low marks for trust and leadership. Yet this year's findings again point to how high trust leads to better outcomes and financial results — and even boosts innovation.

  Regulatory and Legislative Update 
 
  • SEC names computer-trading specialist to permanent position
    Gregg Berman, who had been working with the Securities and Exchange Commission on a temporary basis to help improve electronic trading oversight, has been promoted to associate director for the newly created office of analytics and research. The small office wants to tempt Wall Street analysts into working temporary stints at the SEC. Bloomberg (1/15) LinkedInFacebookTwitterEmail this Story
  • OCC signals banks will have more time to wall off swaps trading
    U.S. companies that engage in swaps trading and receive federal deposit insurance are required under the Dodd-Frank Act to spin off some swaps trading into a separate branch. However, the Office of the Comptroller of the Currency says that if banks ask for a transition period, the request will be "considered favorably." Reuters (1/3), Bloomberg (1/4) LinkedInFacebookTwitterEmail this Story
  • Overly complex market rules caused trading errors, BATS says
    BATS Global Markets said the four years of trading errors that it recently disclosed were the result of a market structure and rules governing trading that are excessively complex. "It's very easy in the complex market structure for minor errors to occur and not be detected because of the multiplicity of the exchanges that the [Securities and Exchange Commission] has created," said Thomas Caldwell, chairman and CEO of Toronto-based Caldwell Securities. Securities Technology Monitor/Bloomberg (1/11) LinkedInFacebookTwitterEmail this 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.

  SIFMA News 
  • Early-bird rates: SIFMA C&L Society Annual Seminar -- March 17-20 -- Phoenix
    SIFMA's Compliance & Legal Society Annual Seminar 2012 was attended by 1,700+ financial industry legal and compliance professionals and featured more than 60 panels and sessions, creating the premier forum to discuss the issues and share expertise and insights into critical topics for varied interests. This year's program in Phoenix on March 17-20 will be no different. Registration is now open for this industry tradition. Be sure to attend this year and give yourself the opportunity to engage leading industry experts on the latest regulatory developments and industry trends. Act now and register before the early-bird rates expire Feb. 1. LinkedInFacebookTwitterEmail this Story
  • SIFMA Compliance & Legal Society Panel on FINRA's New Communications Rule -- Jan. 30
    SIFMA invites you to a panel discussion on FINRA's New Communications Rule on Jan. 30 at SIFMA's Conference Center in New York City. The panel will discuss what FINRA will be looking for and what firms are doing to comply. Member price is $50, and $85 for non-members to attend. Audio-only registration is also available. Learn more about this timely seminar and more about SIFMA professional societies. LinkedInFacebookTwitterEmail this Story
SIFMA Resources
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Legislative and Regulatory Activity  |  Member Committees  |  Newsletters

  SmartQuote 
Passion, though a bad regulator, is a powerful spring."
--Ralph Waldo Emerson,
American writer


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