Technology
Tokio Marine launches TokioWeather
Japan's Tokio Marine and Fire Insurance has launched TokioWeather, the country's first software program that calculates the premium on weather derivatives, according to an official at the insurer in Tokyo.
Fame shake-up under new chief executive officer
Fame Information Services, the New-York based market data vendor, has secured a new investment from majority shareholder, Warburg Pincus, the private equity company. New plans to radically shake up the business have been unveiled by incoming chief…
Iris launches eqTrader
Iris Financial Systems, a provider of trading and risk management systems based in San Francisco, today launched eqTrader, a component-based equity portfolio management system, onto the European market. eqTrader enables portfolio managers to automate…
Blackbird completes first FpML trades
Blackbird, the North Carolina-based electronic market-place for over-the-counter interest rate derivatives, has completed the first swap trades on an electronic network using Financial Products Markup Language, or FpML. The deals are the first practical…
Cicada creates risk data management group
Cicada, a US market data distribution systems company, has created a new subsidiary, Cicada Risk, to provide risk data management products. The move marks the company’s first foray into the risk management business.
Citi joins State Street's FX Connect liquidity pool
Citigroup, which failed in efforts to create a merger of e-FX portals FXall and Atriax, ahead of Atriax's collapse late last week, has joined State Street's FX Connect as a liquidity provider.
New online FAS 133 tool developed for corporate hedgers
New York-based risk management system provider Reval has developed an online derivatives hedging service, Reval Express. It is intended to provide an affordable means for US corporates that hedge only lightly to comply with derivatives Financial…
GFI to use CSK’s Slingshot for trading portal
Interdealer broker GFI is implementing CSK Software’s Slingshot product to stream real-time data into Web-based products, including a new trading portal. The project is part of a larger market data strategy at GFI.
Korea's Daishin Securities contracts Kamakura for market risk
Daishin Securities has signed up to use Kamakura Corporation's technology to manage its market risk activities at its Seoul-based head office. Daishin is Kamakura's seventh Korean trading firm client.
eSpeed licenses futures trading patent to Ice
Technology company eSpeed has licensed its electronic futures trading patent to online energy platform Intercontinental Exchange (Ice). The move will enable Ice to expand its electronic trading platform to cover energy futures and options contracts…
Henderson signs with Xenomorph for derivatives support
Henderson Global Investors, a subsidiary of the Australian Mutual Provident Society (AMP), has selected Xenomorph to provide risk management for derivatives support across a range of investment products.
BarCap poised to move NYC trading floor in July
Barclays Capital, the investment banking arm of the UK's Barclays Bank, plans to begin moving to its new trading floor in midtown Manhattan in July, according to Nick Themelis, Barclays Capital's chief information officer for the Americas.
HSBC rolls out Rolfe & Nolan back office system in US
The UK's largest bank, HSBC, has started rolling out derivatives back office technology developed by Rolfe & Nolan (R&N) in New York and Chicago.
Many are called, few are chosen
The market for power trading technology in Europe is mirroring the energy industry in the intensity of its competition. Benjamin Tait reports
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.
GFI offers repo traders a new derivatives tool
New York-based interdealer broker GFI has added forward allocation general collateral (FAGC) repurchase agreements and corporate bond repos to its GFInet European trading screen.
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.
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…
CMXchange and Opt4Derivatives partner for OTC metals trading
Illinois-based Commodities Management Exchange (CMXchange), an electronic metals exchange, and Berkeley-based technology firm Opt4Derivatives are to launch CMXflexclear, an electronic market-place for trading and matching over-the-counter (OTC)…
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.