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
,WS&T sibling brand
’sannual ranking of the most innovativebusiness technology organizations.
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.
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.
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.
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
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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
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.
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
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.”
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.
December 2009 wallstreetandtech.com