Paul Penrose Head of Research at Finextra
Tibco's decision to downgrade its earnings forceasts for the year after experiencing a sudden fall out in contracts at the end of the quarter has spurred some analysts to suggest that that the ongoing credit crunch may be hitting bank IT spending budgets. Katherine Egbert, an analyst with Jefferies and Co. notes: "Although Tibco is a relativel...
07 September 2007 /wholesale Finextra50 fintech index
Shares in core banking vendor Financial Objects slipped four per cent after the company reported a 21% decline in revenues from its banking division. The group has appointed a new head of banking in an effort to revive sales, but warns that it now expects to record a full year decline in revenues in the division. Financial Objects is resisting call...
06 September 2007 /payments /wholesale Finextra@Sibos
The decision of the Boston Stock Exchange to shutter its new electronic equities trading venture BeX within nine months of its live launch in December last year is bad news for other up-and-coming competitors to established market venues. BeX was set up with the backing of five of Wall Street’s most powerful investment banks. It was designed to tak...
05 September 2007 /wholesale MiFID
Investors Business Daily via CNNMoney comments on the use of Web collaboration tools such as RSS, Wikis and blogs in the business sector under the guise of a new business buzzword: Enterprise 2.0. It's the first time I've heard the term in general use, but it seems that I'm well behind the curve. The phrase was first coined by Andrew McAfee from H...
04 September 2007 /retail /wholesale Trends in Financial Services
STP (the industry trade mag) may be dead, but co-founder and MD Graeme Austin has conjured an unlikely resurrection as director of product management for the market services business of the International Capital Markets Association (ICMA). Officially, STP Information Services went into voluntary liquidation a few months back after HM Revenue &...
04 September 2007 /wholesale Where are they now?
Olivier Berthier CEO at Moneythor
Let's remind ourselves, the SWIFTNet Trade Services Utility (TSU) is the result of an initiative started by the banks. The SWIFT Board and twelve banks, among them some of the most international and influential players in the trade services space, decided in late 2002 to form the Trade Services Advisory Group (TSAG) and work on a solution that wou...
03 September 2007 /sibos /wholesale Financial Supply Chain
Elton Cane Digital product delivery at News Corp Australia
First Data's acquisition by an affiliate of Kohlberg Kravis Roberts & Co. (KKR) received domestic and US regulatory approval today. In recent weeks, as the US sub-prime mortgage crisis spread to the wider credit markets, there has been some speculation that the banks underwriting large leveraged deals such as KKR's $29billion acquisition of gl...
22 August 2007 /payments /wholesale Finextra50 fintech index
Choosing a new name for a business venture is fraught with pratfalls. How will it translate in multiple languages? Will it offend anybody? What about the domain name rights? All the same, you have to wonder about the advice meted out to SWX Swiss Exchange and Deutsche Börse when they settled on the name 'Scoach' for their new joint venture structu...
14 August 2007 /wholesale Whatever...
Normally it's not good form to take potshots at the mistakes of fellow media organisations. But today's newsletter from press release aggregator Bob's Guide contains a particularly amusing piece: Deutsche Bank hires Greenspam as advisor Deutsche Bank has hired Alan Greenspam as senior advisor to its investment banking unit. The appointment ...
14 August 2007 /wholesale Finextra50 fintech index
From the Sydney Morning Herald: 'The biggest bank in the virtual world of Second Life has closed its doors after a run on its deposits, putting at risk hundred of thousands of real dollars of savings and investments.' The 'bank' in question, Ginko Financial, yesterday stopped accepting deposits, froze all withdrawals and converted account holders'...
10 August 2007 /retail /wholesale Futuristic Banking
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