Financetech - All Stories

Trading Cross Connects Hires Gabirel NG As VP of Risk Management

Tue, 9 Feb 2010 11:24:21 EST

Incubator of high frequency trading teams taps NG, formerly with Gottex Fund Management, for risk management.

Travelers Promotes Bill Cunningham to EVP, Business Insurance

Tue, 9 Feb 2010 11:24:14 EST

Cunningham will succeed John Albano, following the latter's decision to take on a part time role in order to pursue outside interests.

Thain Reemerges at CIT Group

Tue, 9 Feb 2010 11:03:57 EST

CIT Group, a lender to thousands of small businesses and retail chains, has hired former Merrill Lynch Chief John Thain as its top executive.

Fed Begins Planning for Economic Recovery

Tue, 9 Feb 2010 11:03:57 EST

The Federal Reserve bank is likely to use a variety of options to slow the economy when the recovery is stronger, bank officials said.

Grange Life Selects iPipeline Illustration Suite

Tue, 9 Feb 2010 10:58:37 EST

The insurer will use iPipeline's Web-based solution for needs analysis, advanced sales and Illustrations to both Property and Casualty and Life Insurance agencies.

Tactico Takes 24 Percent Equity Stake in Omega ATS

Tue, 9 Feb 2010 10:47:49 EST

Canadian ATS has tripled its volume in the past two months, with its low-cost pricing model and fast platform, said Tactico.

Reed Proposes Financial Risk Data Clearinghouse

Tue, 9 Feb 2010 10:44:00 EST

National Institute of Finance would monitor systemic risk.

Clairmail Mobile Banking Links to Jack Henry Core Banking

Tue, 9 Feb 2010 10:25:00 EST

Jack Henry customers can offer banking via text message, mobile web and mobile app.

International Center for Financial Regulation Launches Activities in Asia

Tue, 9 Feb 2010 10:16:35 EST

The ICFR, headquartered in London, is the product of cooperation between 19 leading financial services companies and provides training, scholarship and thought leadership on financial regulation.

Thomson Reuters Acquires Aegisoft

Tue, 9 Feb 2010 09:57:19 EST

Thomson Reuters has acquired Aegisoft, a provider of electronic trading and testing tools, in an effort to increase its direct market access (DMA) capabilities.

Brady Adds Support for New LME Minor Metals Contracts

Tue, 9 Feb 2010 09:46:46 EST

Chi-X and Atrium Set Date to Launch Canada's First Latency Network

Tue, 9 Feb 2010 09:41:26 EST

Low-latency ecosystem to provide trading participants with dedicated "dark fibre" connectivity to all displayed Canadian market centers from 151 Front Street data center.

Carrier Confidential: Selective Plans Right, Builds Right and Runs Right

Tue, 9 Feb 2010 09:25:03 EST

Selective Insurance Group's IT organization supports the carrier's high-tech/high-touch approach to distributor relationships with judicious planning and a focus on execution.

Wall Street Firms, Hedge Funds, Recruit CIA, Ex-Military Intelligence

Mon, 8 Feb 2010 16:04:24 EST

Wall Street firms and hedge funds are actively recruiting former CIA and military intelligence officers in a bid to boost their security and risk management practices.

Rabobank Identifies US$10.2 Million in Savings

Mon, 8 Feb 2010 14:01:00 EST

Within four months of rolling out improved transparency and reporting, Rabobank identifies and eliminates US$10.2 million in redundant IT services.

State Street to Pay Mortgage Securities Investors $300 Million

Mon, 8 Feb 2010 13:07:00 EST

Firm settles with the SEC over charges it misled investors about subprime mortgage investments.

Fed Planning for Economic Recovery

Mon, 8 Feb 2010 12:31:03 EST

The U.S. Federal Reserve bank is likely to use a variety of options to slow the economy when the recovery is stronger, bank officials said.

AIG Names Peter D. Hancock EVP, Finance, Risk and Audit

Mon, 8 Feb 2010 11:47:32 EST

Named EVP, Finance, Risk and Investments, Hancock will oversee finance, risk, audit, investments, strategic planning, and AIG Financial Products Corp.

Humana Appoints Roy Goldman VP, Chief Actuary

Mon, 8 Feb 2010 11:34:26 EST

Goldman, who has served in actuarial and financial management roles at Geisinger Health Systems, Mercy Health Plans, and Prudential Health Care Group, will report to James H. Bloem, Humana's senior vice president and chief financial officer.

Thousands Snowbound Following Storms

Mon, 8 Feb 2010 11:32:02 EST

Thousands of snowbound U.S. residents began digging out Sunday as Maryland and Virginia officials warned many may not be able to make it to work Monday.

China Says Hacker Training Site Closed

Mon, 8 Feb 2010 11:31:10 EST

Chinese authorities shut down the country's largest hacker training Web site in central Hubei province, China Daily reported Monday.

Man Pleads Guilty to 'Pump-and-Dump' Hack

Mon, 8 Feb 2010 11:19:17 EST

An Indian man has pleaded guilty to U.S. charges he conspired to hack into online brokerage accounts and manipulate stock prices in a pump and dump scheme.An Indian man has pleaded guilty to charges he conspired to hack into online brokerage accounts and manipulate stock prices in a "pump and dump" scheme.

Misys Sees Boom in Islamic Banking

Mon, 8 Feb 2010 10:28:00 EST

Global Islamic banking market is now worth over $500 billion, with 10-15% growth forecast for 2010.

Merrill Lynch Japan Launches Low-Latency DMA Platform

Mon, 8 Feb 2010 10:19:00 EST

Merrill Lynch Japan Securities has introduced a third-party hosted service for ultra-low latency electronic trading.

LCH.Clearnet and SIX x-clear Publish Interoperability Link Summary

Mon, 8 Feb 2010 09:55:45 EST

Maintains that interoperability can be safe for CCPs across Europe, and this model withstood the Lehman default.

NYSE Technologies Selected to Build Technology Solution for ASEAN Exchange Network

Mon, 8 Feb 2010 09:34:18 EST

The ASEAN Exchange Network will link capital markets in Malaysia, Philippines, Singapore and Thailand.

How the Volcker Rule Would Affect Banks

Mon, 8 Feb 2010 09:01:00 EST

Former Federal Reserve chair Paul Volcker himself says only the four or five largest U.S. banks are too large and would need to adjust to rules prohibiting proprietary trading.

China Says Hacker Training Site Closed

Mon, 8 Feb 2010 07:26:52 EST

Chinese authorities shut down the country's largest hacker training Web site in central Hubei province, China Daily reported Monday.

Regulators Urge Small Business Lending

Fri, 5 Feb 2010 15:18:53 EST

U.S. federal regulators Friday urged banks to increase lending to small businesses but to make sure such operations were creditworthy.

FirstBest Selected as Core Tech Partner on LexisNexis/CIAB Insurance Exchange

Fri, 5 Feb 2010 14:17:44 EST

FirstBest Systems has been named the core technology partner for an insurance exchange in development under a partnership between LexisNexis and the Council of Insurance Agents and Brokers (CIAB).

IVANS: P&C Insurers Prioritize Retention, Compliance and Operational Transformation in 2010 IT Spend

Fri, 5 Feb 2010 12:18:44 EST

Facing a negative outlook, carriers are investing in IT to shore up their customer base, prepare for an evolving regulatory compliance regime and find customer retention and find new sources of efficiency.

Unum Selects All-in-One IP Communications Software Suite from Interactive Intelligence

Fri, 5 Feb 2010 11:58:49 EST

Employee benefits products and services provider selects Customer Interaction Center to improve efficiencies for distributed contact centers and work-at-home users.

Currensee Teams With Thomson Reuters IFR Markets

Fri, 5 Feb 2010 11:51:40 EST

Currensee, a Forex trading social network, has announced a relationship with Thomson Reuters IFR Markets.

Mobile Giving Outpacing Mobile Payments

Fri, 5 Feb 2010 11:04:00 EST

As indicated by the in flux of text message-based donations to Haiti earthquake relief foundations, mobile giving has taken off, but the mobile payments space as whole has a long way to go.

Trading Technologies Sues Cunningham Trading Systems and Interactive Brokers

Fri, 5 Feb 2010 10:38:15 EST

Some of the patents relate to its MD Trader product, the order-entry screen incorporated in its X_Trader software.

Optimum Lightpath Introduces 40 Gigbit Service In New York Metro Area

Fri, 5 Feb 2010 10:36:28 EST

The new service is geared to meeting the bandwidth, speed, low latency and security demands of the financial community.

Data Was at the Heart of the Financial Crisis

Fri, 5 Feb 2010 08:01:00 EST

Data quality and data modeling are critical to limiting risk, reports Michael Rodgers, Director of Business Development, Netik.

Forex Social Network Announces Relationship with Thomson Reuters IFR Markets

Thu, 4 Feb 2010 14:32:33 EST

Currensee is the first Forex trading social network that connects traders from around the world based on real-time trades.

Boston Options Exchange Selects Firm58 For On-Demand Billing

Thu, 4 Feb 2010 14:21:16 EST

Firm58 replaces BOX's in-house billing system and provides exchange participants with online access to trade details and balances.

BofA Settles One Merrill Lynch Case

Thu, 4 Feb 2010 13:35:00 EST

Bank of America settled one lawsuit and faced another as New York state said it would take bank executives to court over its purchase of Merrill Lynch.

Banks in Europe Maintain Lending Rates

Thu, 4 Feb 2010 12:07:31 EST

The Bank of England and the European Central Bank in Frankfurt, Germany said in separate announcements they would keep lending rates unchanged.

AIG Says Pay Issue Is 'Largely' Solved

Thu, 4 Feb 2010 10:59:12 EST

U.S. insurance giant American International Group Inc. said it would reduce bonus payments by $20 million to recoup part of a pledge it failed to keep.

Pelosi Plans Vote to Revoke Health Insurers' Antitrust Exemption

Thu, 4 Feb 2010 10:59:12 EST

U.S. House Speaker Nancy Pelosi said she plans to schedule a vote on a bill to revoke the health insurance industry's exemption from antitrust laws.

IBM to Offer Data Quality, Redaction Tools

Thu, 4 Feb 2010 10:53:00 EST

Software for monitoring data quality and for redacting sensitive information close to being rolled out.

BofA Merrill Lynch Makes Broadcort, Commission Mgmt Appointments

Thu, 4 Feb 2010 10:26:22 EST

An internal memo from Michael Bird, head of Broadcort and Global Commission Management at Bank of America Merrill Lynch, announced several senior management changes in the firm's Broadcort and Global Commission Management groups.

17% of U.S. Adults Use Mobile Banking, Survey Finds

Thu, 4 Feb 2010 10:25:00 EST

Mobile web and SMS are the most common mobile banking technologies, but app-based banking will grow rapidly over the next 12 months, according to Luth Research.

Buy Side Algo Usage, Block Trading on the Rise: Tabb Report

Thu, 4 Feb 2010 10:11:32 EST

According to the latest Tabb Group benchmark study, the needs of the buy side have changed following the financial crisis and their number one goal going forward is to re-build assets and performance records.

Jaypee International Receives Approval to Trade on LME

Thu, 4 Feb 2010 09:45:20 EST

Jaypee has been approved as an associate trade member of the London Metal Exchange Ltd., adding to the memberships on exchanges held by its worldwide affiliates.

Sybase Acquires Complex Event Processing Vendor Aleri

Thu, 4 Feb 2010 09:43:00 EST

Database vendor, which was already using Aleri's software under the hood of its RAP product, can now take product integration further.

Compliance 360 Offers New Internal Audit Application

Thu, 4 Feb 2010 09:27:22 EST

The new, integrated application for managing internal audits fulfills the needs of all senior officers charged with governance, risk and compliance responsibilities.