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1209 WST Digital Issue

1209 WST Digital Issue

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Published by: SYCme on Apr 08, 2010
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10/06/2013

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December 2009
Business Innovation Powered By Technology


 
16
Software as a Service
Stilllooking to control costs and maximizeproductivity, more and more Wall Streetfirms will consider renting softwareapplications rather than buying them.
17
Cloud Computing
Nearly half of Wall Street IT executives surveyed bySIFMA identified cloud computing asthe No. 1 disruptive technology.
18
High-Frequency Trading
Responding to charges of unfair access,regulators will closely scrutinize high-frequency trading, which drives as muchas two-thirds of equities executions.
19
Dark Pools
In the push for trans-parency, the SEC likely will enact rules toshed light on dark pools, changing theway the anonymous venues operate.
20
Hedge Fund Automation
To meet investors’ demands for moretransparencywhile complying withregulators’ calls for real-time reporting,hedge funds are automating processes.
21
Risk Modeling
With no guaranteeof future bailouts, and with regulatorsturning up oversight, financial firmsmust improve their risk managementmodels, processes and technology.
22
Business Intelligence
Areassuch as portfolio and risk managementcan benefit from the insight provided bybusiness intelligence tools. But it startson a foundation of data management.
23
OTC Derivatives Clearing
Congress is working on OTC deriva-tives reformto rein in systemic risk. Butthere still is no consensus on exactlyhow central clearing would work.
24
Regulatory Reporting
With awave of new regulations in the works,firms must establish an effective datamanagement and reporting infrastruc-ture in order to avoid costly penalties.
25
Social Networking
Companiesin every industry are embracing socialnetworking to improve communicationamong employees and clients. But willthere be a return on the investment?
Even as many financial firms realized near-record profits in 2009,the economy continued to limp along, job losses mounted andbanks failed in increasing numbers. So what will 2010 have in storefor Wall Street CIOs?
Wall Street &Technology 
examines the top 10trends that will shape the capital markets in the coming year.
p.15
Wall Street
&
Technology
Wall Street & Technology’s 2009 Reader Advisory Board
John A. Bottega
, Chief Data Officer,Federal Reserve Bank of New York
Joseph Ferra
, Chief Wireless Officer,Fidelity Investments
John Galante
, SVP & CTO, J.P. Morgan Worldwide Securities Services
Joe Gawronski
, President,Rosenblatt Securities
Scott Ignall
, CTO,Lightspeed Trading
Robert Palatnick
, Managing Director/Technology, DTCC
Steve Rapp
, SVP & CIO,AGIManagement Partners
Steve Rubinow
, EVP & co-CIO,NYSE Euronext
Prashant Sarode
, VP, Corporate &Investment Banking Technology, Wachovia
Derek Stein
, Chief Technology Officer,Barclays Global Investors
Tim Theriault
, President, Corporate &Institutional Services, Northern Trust
Timothy M. Tully Jr
., SVP & COO,BNY Mellon Wealth Management
Cover Story: Capital Markets Outlook 2010
2
December 2009 wallstreetandtech.com
 
26
Special Report
Technology Innovation
CME Group leveraged a pioneering rolein electronic trading and cutting-edgetechnology to transform the 111-year-oldChicago Mercantile Exchange into theworld’s largest derivatives exchange.For its efforts the firm has earned thetop spot in the
InformationWeek 500
,WS&T sibling brand
InformationWeek 
sannual ranking of the most innovativebusiness technology organizations.
11
Close-Up
Paul Wilmott,7city Learning
Financial risk modelersdon’t care if theirmodels work and riskmanagement at capitalmarkets firms is no better today thanit was before the financial crisis, saysPaul Wilmott, researcher, consultant andlecturer in quantitative finance.
13
Technology Economics
Understanding the economics of financialservices technology and determining theactual value of technology investmentsrequires balancing quantitative andqualitative analysis,asserts ContributingEditor Howard Rubin, founder of researchand advisory firm Rubin Worldwide.
28
Industry Voice
Though cost basis reporting requirementshave gone largely unnoticed by brokeragesand mutual funds amid the financial crisis,the legislation will alter the relationshipbetween client and firm, and Wall Streethas little time left to prepare for compli-ance, notes Scivantage’s Cameron Routh.
31
Perspectives
According to Special Contributing EditorLarry Tabb,prognosticating about 2010is much like shaking a Magic 8-Ball:“Reply hazy, try again.” Nonetheless, “allsigns point to yes” that a few trends willdominate Wall Street in 2010.
From the Editor
5
Upfront
6
Product Watch
30
Introducing wallstreetandtech.comFor Your Mobile Device
Now you can get all of 
Wall Street & Technology 
’s unmatchedcoverage of the capital markets technology sector in the palm of your hand. Point your mobile browser to
wallstreetandtech.com
and you’ll automatically receive all of our online content optimizedfor your handheld device.
Financial Services in 2010:Top Business and Technology Trends
As we approach the new year, financial services firms need an economically viablesolution for competing in today’s market. Join Financial Insight - IDC’s David Potterton,VP of global research, as he shares his insight on the top business and technologytrends for financial services in 2010. Join this live, one-hour webcast to learn how tointegrate new functionality into online financial applications to deliver personalizedreports and improve customer satisfaction; recruit and retain customers by offeringvisually compelling Web experiences; and reduce development efforts by usingstandards-based, reusable solutions and open source BIRT technology.
Thursday, Dec. 3, 2009, 2 p.m. ESTwallstreetandtech.com/2010-trends
Driving Innovation in Tough Times
Managing IT during a bull market is relatively easy. Managinga technology organization through the worst financial crisis ina generation is a different story.
Wall Street &Technology 
s
2009 Gold Book
recognizes seven IT leaders who have drivenexceptional technology innovation during the past year — whilesimultaneously reducing costs and navigating the toughestfinancial market in history. The honorees are Rob Goldstein,BlackRock; Steve Rubinow, NYSEEuronext; Joseph Squeri,Goldman Sachs; Steve Rapp, AGI Management Partners; David Reilly, Morgan Stanley; Joseph Ferra, Fidelity Investments; and Richard Hagan, TradeKing.
wallstreetandtech.com/gold-book-2009
Goldman’s Blankfein‘Doing God’s Work’
In an attempt to heal its image, Goldman Sachs has been givingnewspaper writers access to its top executives. But as WS&TExecutive Editor
Penny Crosman
notes in a recent blog post, theseexecutives are neither charming nor in touch with reality. The mostalarming sound bite may have come from Goldman chairman and CEO Lloyd Blankfein,who reportedly told The Times of London that he’s just a banker “doing God’s work.”
wallstreetandtech.com/blog/blankfein
Wealth Management —An Integrated Desktop Workflow
As the economy shows continuing signs of recovery, wealth management firms arelooking to provide their financial advisers with better tools and improved processes sothey can connect with their best prospects, increase the value of their interactions withexisting clients and improve productivity. In this free, one-hour webcast, learn how anintegrated desktop can help advisers better acquire, manage and serve their clients —while growing the value of assets under management.
wallstreetandtech.com/integrated-desktop
11
Wall Street
&
Technology
3
December 2009 wallstreetandtech.com
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wallstreetandtech.com

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