Technology
Integral awarded patent for Web technology
Californian software company Integral Development said it has secured a patent for its Web-based straight-through processing transaction technology. The patent applies to Integral’s Integral Direct FX, Direct Derivatives, AutoDealer and Integral…
Tullet releases SwapMarkerEurope on Bloomberg
Tullett Financial Information, a subsidiary of brokerage firm Tullet & Tokyo Liberty that provides data on derivatives products, has launched its SwapMarkerEurope interest rate swaps service on Bloomberg.
Basel II system improvements still unclear, says UK regulator
The precise steps banks need to take to ensure their risk management systems are compliant with the proposed Basel II capital accord aimed at making the world’s banking system safer is unclear, a UK regulator said yesterday.
Op risk rules inadequate, says Isma professor
The Basel II capital accord rules regarding operational risks for financial institutions are inadequate, Jacques Pézier, a visiting professor at Reading University’s Isma Centre, told delegates at a conference in London this morning.
General Motors signs up for online commodities hedging
US auto manufacturer General Motors has signed up to the online commodities hedging service Reval.com, a provider of risk management and US derivatives accounting rule FAS 133 compliance services.
CLS endorses ‘in-principle’ Hong Kong and New Zealand dollars
CLS Bank, which launched continuous linked settlement (CLS), the global foreign exchange settlement system, on September 9, has said that Hong Kong and New Zealand dollars should become eligible currencies once they have satisfied CLS Bank rules.
SSgA may implement genetic programming investment model
The investment committee of State Street Global Advisors (SSgA), manager of $770 billion in assets, will decide on October 16 whether to implement an investment model derived from genetic programming exercises to its $390 million emerging market equities…
Poor vendor data delays BofNY securities ‘master’ project
The Bank of New York said its efforts to build a ‘master’ securities database was delayed due to poor data from between 13 to 15 data providers.
London Bridge buys stake in Amelia Financial Systems
London Bridge Software has bought a minority stake (less than 20%) in UK-based operational risk management software company Amelia Financial Systems. It refused to provide more specific details on the financial terms of the deal.
Bear Stearns to use Derivatech for FX options
Bear Stearns has taken Derivatech’s FX risk management platform to support its expanding FX options trading and distribution operations in New York and London.
JP Morgan says disposable computing is key to IT
JP Morgan Chase has solved the problem of how to provide computationally intensive derivatives pricing and risk modelling capabilities across products and throughout the firm, without vastly expanding its IT budget with what Steve Neiman, head of high…
Business managers play key role in shrinking Merrill IT budget
Merrill Lynch has stemmed IT cost overruns by shifting the responsibility for technology project costs to business managers and away from IT managers.
GFI launches new credit portal
GFI Group has launched its new Credit Portal, which provides online access to GFI’s databases and risk management tools.
Fortis London commodities unit to implement Ubitrade system
Fortis Commodities Brokerage, the London commodity trading unit of Benelux bank Fortis, has signed up to Ubitrade Futures & Options, a capital markets trading and risk management system developed by French company Ubitrade.
CalPERS presses ahead with $37 million STP plan
The California Public Employees Retirement System is moving forward with its $37 million four-year straight-through processing project, despite the delay of the T+1 deadline, and the economic conditions that have shrunk the fund manager’s assets under…
Lehman takes a proprietary route to STP integration
US investment bank Lehman Brothers will rely on proprietary technology rather than industry standards to achieve straight-through processing (STP), Patrick Maher, Lehman vice-president of operations technology told delegates at Waters Magazine’s 2002…
Practitioner analysis: Reaping the advantages of Basel II
David Stone of Zions Bancorporation describes how the US bank plans to underpin its enterprise-wide risk management by implementing the Basel II accord’s advanced approaches to measuring operational risk.
Single bank capital accord for all banks is impossible, says Basel Committee chief
CAPE TOWN, SOUTH AFRICA – Differences between banking systems make it impossible to conceive of a single bank protective capital accord that would work for all banks in all countries, the world’s top international banking regulator said today.
SunGard's credit risk system scores a second client
Credient, SunGard Trading and Risk Systems' new credit portfolio analysis and counterparty exposure tracking system, has secured its second client, WestLB. Its first was ING.
Single-bank capital accord impossible for all banks, says Basel chief
Differences between banking systems make it impossible to conceive of a single-bank protective capital accord that would work for all banks in all countries, the world’s top international banking regulator said today.
Liquidity and good returns are key for Preservation Trust
JC Clark offers an insider's perspective on the success of his Preservation Trust
Franklin seeks approval for US fund to launch in Europe
US-registered global equity fund sets for european shores
Banks should use Basel II delays to improve retail-lending systems
NEEDHAM, MASSACHUSSETTS - Banks should use the time gained by delays to the Basel II bank accord to plan for the replacement of systems that can’t handle the ever-increasing volume of loans to the retail sector, a report by banking technology consultants…