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Job moves

QUOTE OF THE MONTH: - “I have come to you with a problem – we need to outsource our balance-sheet funding” From an e-mail sent last year by John Rusnak to an unnamed counterparty, referring to his deep-in-the-money options trades, or ‘synthetic loans'.

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Servicing the e-industry

Investing in IT infrastructure development is essential in today’s often fractured environment of rival software languages and specific trading needs. Clive Davidson discovers what is on offer to bring these disparate elements together

DataSynapse gathers momentum

DataSynapse – winner of Risk magazine’s 2002 software product of the year award for its LiveCluster product – has unveiled five new hires.

Patsystems' Jones survives no-confidence vote

The results of patsystems' extraordinary general meeting (EGM) held yesterday could not have produced better results from the perspective of the London-based independent software vendor’s current management team.

Prebon launches online FRA matching system

Brokerage house Prebon Yamane Asia-Pacific has launched an online matching system for floating rate reset risk positions in swap portfolios for Australian dollar (A$) and Hong Kong dollar (HK$) currencies.

DGZ DekaBank to implement RiskVision

DGZ DekaBank, a German financial institution specialising in wholesale banking and fund management, has agreed to roll out London-based financial services vendor Misys International Banking Systems’ Risk Vision suite.

Goldman signs up Imagine for prime brokerage

Goldman Sachs is to offer Imagine Software's ASP risk management and trading services to clients of its prime brokerage unit, GSI Prime Brokerage, formalising a partnership begun last year in which GSI clients started using the Imagine product.

AIB fraud involved fake entries in SunGard's Devon

Allied Irish Banks' John Rusnak, the trader accused of concealing $691 million in foreign exchange losses over five years, inputted false trades into SunGard's Devon System, which was used to process prime-brokerage accounts at Allfirst Financial, the…

Dynegy joins TradeSpark online trading platform

Houston-based energy company Dynegy has become a partner in TradeSpark, the online energy trading platform. The firm has linked its own proprietary trading system, Dynegy Direct, to TradeSpark as part of the deal.

RiskMetrics launches visual risk service

New York-based technology firm RiskMetrics has developed a new visual tool that allows investors to see stock volatility at a glance. The Risk Map of the Market, as the new service is known, plots both the Standard & Poor’s index and the Nasdaq 100 index…

Spike Trading signs with patsystems

Spike Trading, a Chicago-based supplier of clearing and support services to floor-based traders, has contracted independent software vendor patsystems, to provide it with J-Trader, the company’s online derivatives trading platform.

SunGard acquires Kronos Software

Pennsylvania-based technology firm SunGard Trading and Risk Systems has acquired London-based Kronos Software, the real-time risk management and trading solutions provider.

Taipei Bank opts for FNX’s FirstOrder

Taipei Bank has chosen FNX Limited, a Philadelphia-based software vendor specialising in straight-through processing applications used in global capital markets, to deliver Web-based electronic trading capabilities via its FirstOrder application.

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