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Archive for ◊ October, 2008 ◊
Four Wall Street Giants Invest in FTEN’s Risk Technology to Expand Turnkey Solution to Hedge Funds in Europe and Asia
Merrill Lynch, Goldman Sachs, J.P. Morgan and Credit Suisse take stakes to support multi-prime trend and multi-asset offering to hedge funds.
Fund Managers Slash Jobs as Assets Shrink
Several big U.S. asset managers are slashing jobs as the financial crisis deepens, a dramatic reversal in an industry that added record numbers of workers in recent years and showered them with lucrative rewards.
DTCC Warehouse Releases Values for WAMU
DTCC Trade Information Warehouse provides values for Washington Mutual and Icelandic banks CDS contracts.
UBS Joins DTCC Managed Accounts Service
The centralized platform is designed to automate and standardize communications among sponsors, investment managers and service providers.
NYSE Euronext Launches TradeCheck
NYSE Euronext offers a low-cost service enabling customers to evaluate equity trade execution in a range of European markets.
BNCCORP, Inc. Reports Net Income of $505 Thousand, or $0.15 Per Diluted Share, for Third Quarter
North Central Bancshares, Inc. Announces Results for Third Quarter 2008
SunGard Enhances WealthStation Financial Planning
Enhancement geared to help advisors guide clients through uncertainty.
Community Central Bank Corporation Announces Profitable Q3 Results
Update: Credit Suisse Talks About Reasons for Investing in FTEN
Cites service provider’s proxmity to exchanges, low latency trading technology and advanced risk tools
Stimulus, take 2: The right way
It’s official. The economy shrunk in the third quarter. In terms of earth-shattering surprises, that should rank up there with the news that Madonna and Guy Ritchie were getting a divorce.
Tervela Offers New Integrated Options Solution
The program can be customized to meet immediate market data distribution, options market making, automated trading and co-location requirements while laying a scalable foundation for the future, Tervela says.
A painful squeeze on short sellers
Still looking for a last-minute Halloween costume to scare those trick-or-treaters knocking on your door? Just put on a suit and tie and start bashing bank stocks. Eek! A short seller!
Consumers slash spending, world markets stabilize
NEW YORK (Reuters) – Americans slashed spending and the country’s business outlook weakened but there were signs of stabilization in global markets on Friday, with interbank rates falling and U.S. stocks posting their best week in 34 years.
Credit Agricole To Implement Brokerage Compliance Market Abuse Solution
Actimize solution chosen to aid in compliance.
Strong end to a brutal month
Stocks rallied Friday, capping off a strong week at the end of one of the worst months in Wall Street history.
Four Wall Street Giants Invest in FTEN’s Risk Technology to Expand Turnkey Solution to Hedge Funds in Europe and Asia
Merrill Lynch, Goldman Sachs, J.P. Morgan and Credit Suisse take stakes to support multi-prime trend and multi-asset offering to hedge funds.
Airlines seen facing winter survival battle
PARIS (Reuters) – European airlines face a cut-throat battle to survive the winter as recession threatens the recipe many have used to ride out a spike in oil prices — sharing the pain with consumers by slapping on fuel surcharges.
Pension Dynamics Selects ASI Portfolio Forecaster
Pension makes ASI Portfolio Forecaster available to 401k plan participants.
DTCC Warehouse Releases Values for WAMU
DTCC Trade Information Warehouse provides values for Washington Mutual and Icelandic banks CDS contracts.
Election and jobs to set tone for stocks (Reuters)
Reuters – Wall Street hopes to turn a new page as it heads into November, but next week is littered with hurdles ranging from the U.S. presidential election to a likely gloomy jobs report.
Indian stock index surges 8.22 percent (AP)
AP – India’s benchmark Sensex index surged 8.22 percent Friday as traders caught up with Thursday’s sharp rally in global markets.
Bofa and Merrill Leadership Team in Place
Bank of America chooses future global banking, securities and wealth management leadership team.
Emerging Markets Report: For emerging markets, a wild October has echoes of past crises
The prospect of more international bailouts for emerging markets couldn’t save the sector from turning in one of its most dismal months ever, after a worldwide credit squeeze pushed benchmarks to levels on par with previous global crises.
TSX turns negative after 2.5 percent gain (Reuters)
Reuters – The Toronto Stock Exchange’s main index unraveled a 2.5 percent gain from early in the session and turned negative just ahead of midday on Thursday as energy and material shares weighed on the index.
FTSE 100 up 85.69 points (AP)
AP – Share prices on the London Stock Exchange closed higher on Friday.
Intel says credit crisis could hurt business
NEW YORK (Reuters) – Intel Corp warned on Friday the credit crisis could hurt demand for its chips, and lead to the insolvency of key suppliers that could result in product delays.
NYSE warns Circuit City; investor cuts stake (AP)
AP – Circuit City Stores Inc. said Thursday the New York Stock Exchange has warned it that its stock price is not high enough for continued listing.
China shares up on regional gains and rate cuts (AP)
AP – Chinese shares posted modest gains Thursday, led by financial stocks and refiners, after the central bank cut interest rates late the day before and other regional markets staged a dizzying rally.
ACTIV Financial and Marco Polo Network Unite To Simplify and Speed Inter-Market Trading in Brazil
Joint solution makes it as easy, cost-effective and reliable to trade with emerging markets as developed ones.
Barclays raises $12 billion, sources say CoBa may tap state
LONDON/FRANKFURT (Reuters) – Barclays tapped Middle East investors for the bulk of its 7.3 billion pounds ($12.1 billion) cash injection, while sources familiar with the situation said Commerzbank is interested in German state funds.
Rep. Frank: bailout funds must be used for lending
WASHINGTON (Reuters) – Companies receiving public money under a U.S. government financial rescue program must use it for lending or they will be violating the law, the powerful chairman of the U.S. House of Representatives Financial Services Committee said on Friday.
BondDesk Group Partners with IDC Financial Publishing
First electronic trading platform to offer a bank rating system to link industry leading bank ranking analytics with bank issued certificates of deposit.
Four Wall Street Giants Invest in FTEN’s Risk Technology to Expand Turnkey Solution to Hedge Funds in Europe and Asia
Merrill Lynch, Goldman Sachs, J.P. Morgan and Credit Suisse take stakes to support multi-prime trend and multi-asset offering to hedge funds.
BondDesk Group Partners with IDC Financial Publishing
First electronic trading platform to offer a bank rating system to link industry leading bank ranking analytics with bank issued certificates of deposit.
A Generic McMansion
Mylan’s integrating well.
Scottrade Ranks Highest in Self-Directed Investor Satisfaction in 2008
Investment firm’s top ranking in eight of the last nine studies confirms customer trust remains strong, says CEO Rodger Riney.
Fund Managers Slash Jobs as Assets Shrink
Several big U.S. asset managers are slashing jobs as the financial crisis deepens, a dramatic reversal in an industry that added record numbers of workers in recent years and showered them with lucrative rewards.
Citadel Says Business is Sound, 30 Percent of Assets in Cash
Citadel Investment Group, one of the world’s biggest hedge funds, said Friday it has more than $10 billion in available credit and sought to quell rumors it was liquidating some portfolios after its two main funds had lost 35 percent since January.
TD AMERITRADE Launches New Mobile Trading Tools
Tools and services will be available on the Apple App Store
Tervela Offers New Integrated Options Solution
The program can be customized to meet immediate market data distribution, options market making, automated trading and co-location requirements while laying a scalable foundation for the future, Tervela says.
Saxo Bank Launches SaxoMobileTrader for iPhone
Online trading and investment specialist rolls out iPhone platform.
Oppenheimer Holdings Inc. – Third Quarter 2008 Earnings and Dividend Announcement
Chevron profit doubles to $8 billion
Chevron’s profit more than doubles to nearly $8 billion, built on the summer’s record run of triple-digit crude oil prices.
PSEG Announces Third Quarter 2008 Earnings
US approves Delta-Northwest merger
Delta Air Lines’ proposed merger with Northwest Airlines won approval from US antitrust officials, clearing the companies to create the world’s largest carrier
HMS Holdings Corp. Announces Q3 2008 Results, 2008 Revised Guidance and Initial 2009 Guidance
Media Advisory – ACE Aviation Holdings to present 2008 third quarter results
Oppenheimer Holdings Inc. – Third Quarter 2008 Earnings and Dividend Announcement
Southern Michigan Bancorp, Inc. Announces Third Quarter Earnings
ICE in takeover of Clearing Corporation
IntercontinentalExchange, the electronic futures exchange based in Atlanta, raised the stakes in its effort to expand its foothold in the $54,000bn credit-default swap market by announcing a deal to take over The Clearing Corporation (TCC), the bank-operated clearing house
U.S. ruling may curb business method patents
WASHINGTON (Reuters) – A U.S. appeals court has rejected patenting a way to smooth energy costs in a closely watched decision that could narrow the scope of “business method” patents.
Why We Still Have a Long Way to Go
How to deal with this market.
Fidelity’s Magellan fund buys big banks in September
BOSTON (Reuters) – Fidelity Investments’ flagship Magellan fund sharply raised its holdings of Bank of America Corp and JPMorgan Chase & Co in September, as it moved into bigger U.S. banks amid the worsening credit crisis.
Prepare for a Gruesome Retirement
Your nest egg may not be big enough to serve your future needs.
Stocks get a boost
Stocks rallied Thursday, as investors cheered news of easier credit and a report showing the economy shrank at a slower pace than expected in the third quarter.
