993 Results from /wholesale
Retired Member
“It’s not easy being green.” When this tune started floating around my head for this post, I thought Kermit the Frog had first sung these words about twenty years ago. Imagine my surprise when I checked Wikipedia and found out the song is really almost forty years old. And what was once a frog’s simple lament about growing comfortable in his own...
24 November 2008 /wholesale
Elton Cane Digital product delivery at News Corp Australia
Will state involvement in bank ownership stifle innovation at those groups that have taken bail-out money? As banks step back from serving the low end of the economy, which is perceived as too risky, will governments have to step in and offer basic financial products to this sector of the economy? I had an interesting discussion over breakfast at...
19 November 2008 /retail /wholesale Innovation in Financial Services
Paul Penrose Head of Research at Finextra
Lehman Brothers ran its operations through a worldwide network of 26,666 servers and employed an IT department comprising some 6000 staff. This technological legacy has created some interesting operational challenges for the administrators charged with overseeing its affairs, as this SEC filing from restructuring experts Alvarez & Marsal makes...
19 November 2008 /wholesale
Gary Wright Analyst at BISS Research
It's been over twenty years since "Big Bang" in the UK where single capacity business was abolished in favour of duel capacity. Single capacity was where brokers could only deal on behalf of clients earning commission and duel capacity is where brokers can deal for clients but also themselves. The fear was always that brokers could be co...
19 November 2008 /wholesale SEPA and European Payments
At last weeks EMXCo quarterly update Max Wright their CEO and mastermind leading the way in bringing STP into the investment funds announced the exciting news that they have the first firm using settlement messages. The packed audience of distributer's, brokers and fund managers almost purred with appreciation. This really is breaking new ground f...
19 November 2008 /retail /wholesale MiFID
If State Street CEO Ron Logue is serious about his new expense management programme, he might first want to start with the annual salary and severance package of none other than...Ron Logue. The CEO of the Boston-based financial conglomerate pocketed no less than $27 million in total compensation last year. What's more, if the firm gets taken over ...
17 November 2008 /wholesale
That's what bearish Oppenheimer analyst Meredith Whitney told Reuters at the the Reuters Global Finance Summit yesterday. In her view, the bank is unlikey to be profitable for several years. Its strategy was that its many financial services businesses could boost their revenue by selling products to one another's clients. "But that does not ...
11 November 2008 /retail /wholesale
One HSBC is a scheme that aims to move 55 core banking systems, 24 credit card systems, 41 internet banking systems, 40 desktop standards and five unique trading rooms on to one global platform by 2011. Three years in and the $1 billion project is already paying for itself. Finextra issued a progress report back in August. In an interview with Co...
07 November 2008 /retail /wholesale
XML is not new but you would be forgiven for thinking it is, in the financial services industry. Now that ISO20022 is grabbing some attention there is an inevitable growing interest in XML. A few years ago the FSA in the UK started a project to move towards XBRL, one of the many derivatives that have been sporned from the origins of XML. The proje...
07 November 2008 /security /wholesale MiFID
With the sum of $600 trillion CDS, it now looks as though the sub-prime crisis is a relatively benign subject. It is safe to say that a lot of these CDS' spread have increased because of the current economic crisis and the number of defaults. How much of this $600 trillion CDS is affected by credit defaults is a very good thing to know at this poin...
06 November 2008 /regulation /wholesale
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