Outsourcer Infosys has appointed industry veteran David D. Kennedy to serve as executive vice president and general counsel for the company and as executive officer of the company for the purposes of SEC Reporting, officials say. The company has also announced an effort to add 2,100 employees to its ranks, including many recent graduates and… Read More >>
Prudential Investment Managers Signs with StatPro
Financial software provider StatPro Group has announced that its products are now being rolled out across a selection of funds run by Prudential Investment Managers (PIM), one of South Africa’s top ten largest investment managers, according to a company statement. The rollout follows the signing of a five-year contract earlier this year between StatPro and… Read More >>
SEC’s CIO to Leave in October
Thomas Bayer, the chief information officer (CIO), is leaving the SEC in October after a four-year tenure marked by “significantly reduced operation and maintenance costs,” say SEC officials. For the moment, there is no immediate replacement for Bayer and it is not known what his next move will be, say sources familiar with the situation…. Read More >>
Are You Ready for Cloud 2.0?
I concluded late last year that end-user firms and financial technology providers were quietly entering the next phase of the cloud computing revolution. My analysis, based on anecdotal evidence, is that buy- and sell-side firms ignored the cloud hype three years ago and focused on how to alleviate the initial, justified concerns over data security… Read More >>
Macquarie Futures to Use Cloud-Based Recs
Macquarie Futures, a futures commission merchant of Australian financial services firm Macquarie Group, will be deploying a reconciliation system from Gresham Computing, the Clareti Transaction Control (CTC) solution via an Amazon Web Services (AWS) public cloud computing deployment, officials say. The Amazon cloud will deliver the automated reconciliation and exception management services of CTC to… Read More >>
Bottom-Line Woes Send Buy Side to the Cloud
A new convergence is underway to make cloud computing more palatable for buy-side firms looking for bottom-line cost savings as they face new derivatives-based demands for more compute power just as profit margins tighten and IT budgets flatten. At the same time, the security, business culture and regulatory barriers that have blocked the cloud are… Read More >>
Time for the Buy Side in the Clouds?
Buy-side firms need to embrace improved cloud computing solutions to get “badly needed computing power” while also helping rein in technology costs, according to consultancy Greenwich Associates. For instance, hedge funds could cut the computing costs of portfolio analysis by 50% if they embrace an enterprise-wide, cloud computing offering, according to the new report “Cloud… Read More >>
Case Study: Delaware Investments and the Cloud
Philadelphia-based global asset manager Delaware Investments is a firm believer that vendors can generally do a better job of hosting and managing the systems they create than internal IT and operations staffs. That is the main reason Delaware Investments opted for a private cloud, enterprise-wide implementation of the Investment Management Solution (IMS) system from Charles… Read More >>
FIS Group Adds Liquid to List of Service Providers
Liquid Holdings Group reports that it will be among the first group of approved service providers that investment manager FIS Group will offer to its roster of emerging investment managers via its Ecosystem program. Liquid Holdings, formed in 2012, is a cloud-based technology and managed services provider to the global hedge fund and trading markets…. Read More >>
Swaps Exchange Hits Milestone as Sapient’s Cloud Links to Clients
Swaps Exchange Processes $100B of Bunched-Order Allocations trueEX Group, the New York-based electronic exchange for interest rate swaps, reports that it has successfully processed more than $100 billion in bunched-order allocations via its newly activated Post-Trade Services (PTS) platform. trueEX’s PTS platform allows buy-side clients and their futures commission merchants (FCMs) to directly allocate executed… Read More >>
