Latest Wholesale banking News: Finextra Research

Instinet invests in StarMine

Electronic broker Instinet has placed a $2 million investment in analyst ratings agency StarMine, closing a $5 million Series D financing round for the privately-held company, in which previous investors American Century Ventures and Hummer Winblad Venture Partners also participated.

13 February 2002

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Charles Schwab offloads Canadian business to Scotiabank

Scotiabank has agreed to purchase Charles Schwab Canada for an undisclosed sum. The acquisition is expected to close in the next 60 days, and follows Schwab's recent exits from the Japanese and Australian markets.

13 February 2002

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ESpeed posts first ever quarterly profit

Electronic bond trading platform eSpeed has rebounded from the terrorist attacks which decimated its headquarters and led to the loss of 180 employees when the World Trade Centre collapsed by posting its first ever quarterly profit.

13 February 2002

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SunGard Global Markets cuts one in five of workforce

SunGard Trading Systems global markets division is laying off over 20% of its worldwide workforce. Staff were told of the cuts in a memo circulated by Jim Davis, who moved from HP to head up the Sungard business unit in November.

13 February 2002

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SS&C Technologies upgrades Antares trade order management suite

SS&C Technologies has released a new version of its Antares trade order management system, offering improved workflow of electronic routing of orders via FIX, and access to Omgeo's electronic trade confirmation service Oasys and Oasys Global via AutoMatch interfaces.

13 February 2002

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Beta banks talk up Microsoft .NET experience

Backed by supporting applications at major banks and corporations, Microsoft has formerly launched Visual Studio .NET and the .NET framework, the application development tool and platform for building Web-based services using .NET applications.

13 February 2002

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Misys brings in new chief for asset management division

Misys Asset Management Systems has named Chris Potts - a former stalwart of the Mondex e-cash system - as its new chief executive, replacing David Hughes, who has stepped down from the position.

13 February 2002

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ISDA publishes FpML Version 3.0

The International Swaps and Derivatives Association (ISDA) has released a working draft for Financial products Markup Language (FpML) Version 3.0.

13 February 2002

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Brief: HEX names Gert Tiivas to head Baltic operations

HEX has appointed Gert Tiivas senior vice president of the exchange's Baltic operations business unit. He will report to president and CEO Jukka Ruuska.

13 February 2002

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Bank One investment arm contracts with SEI

SEI Investments has won a long-term renewal contract with Banc One Investment Management Group for the provision of its investment processing and trust accounting system.

13 February 2002

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Payments key to profit margin for banks

The payments business constitutes up to 35 per cent of revenues and 40 per cent of costs for banks and has a profound impact on overall profitability, according to a new report from The Boston Consulting Group (BCG).

12 February 2002

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S1 upgrades Hale and Syracuse

E-finance software vendor S1 Corporation has appointed Matthew Hale chief financial officer and Vic Syracuse senior vice president of operations and technology.

12 February 2002

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