BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that it has entered into a strategic alliance with Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, that will provide Thomson Reuters clients access to ConvergEx's market-leading execution and liquidity management capabilities. As part of the agreement, Thomson Reuters will become a preferred... more
Bank Alfalah, a leading bank in Pakistan owned by Abu Dhabi Group, has awarded the contract to TPS for driving its countrywide Point of Sales network.Bank Alfalah, a premier financial institution operating locally & internationality, provides the complete range of financial services to all corporate and consumer segments. The bank’s revolutionary credit card, free for life, and more than 22,000 POS terminals has crowned Alfalah as the largest issuer and merchant acquirer in Pakistan. Following... more
The significant increase of the company’s activities still continues and is reflected in both business units « software publishing » and « services ». BSB recorded revenues of EUR 10.5 million in the first half of 2008, which represents an increase of 35% compared to the same period of last year. This significant increase of the activities comes with an important improvement of the profitability which increased per 30 June 2008 by EUR 0.6 million. The EBIT per 30 June 2008 is EUR 1.2... more
St.George Bank, widely recognised as having one of the best installations of a Teradata Enterprise Data Warehouse (EDW) in the Asia Pacific Region, is leading the way with the first hardware and software implementation of the Teradata 5550 platform and Teradata 12 database in Australia. The new system consists of a three-node Teradata 5550 platform in addition to a hot standby node running on Linux for the Group Data Warehouse (GDW) production system as well as a minor upgrade to their existing... more
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the investment management industry, and Tamale Software, Inc., a leader in research management solutions (RMS), today announced the signing of a definitive agreement under which Advent will acquire privately held Tamale Software. "We're thrilled to have Tamale’s innovative technology and proven team on board as we enter the nascent and fast-growing RMS market,” said Advent’s Founder and CEO Stephanie... more
Bear River Mutual Insurance Company (Bear River Mutual), the fourth largest writer of personal lines insurance in Utah, and Guidewire Software®, a leading global provider of solutions to property casualty insurers, today announced that Bear River Mutual has selected Guidewire ClaimCenter® as its new claims system. When deployed, ClaimCenter will be the single claims system-of-record for all Bear River Mutual’s lines of business and will fully replace its existing internally built legacy... more
Celent provides a detailed look at 27 policy administration system vendors for specialty, excess, and surplus lines of business around the globe.This year has seen continued interest in core systems replacement among property/casualty insurers. In the unique and competitive specialty, excess, and surplus markets, insurers require a policy administration solution that can accommodate an ever-changing set of product configurations and operating models. In a new report, Policy Administration... more
The Latin American financial sector has undergone a transformation in the last few years. The current low level of financial services penetration in the region provides a solid platform for future growth.A new report Capturing the Latin American Segments: A Case Study of HSBC, examines how HSBC, a global bank, entered the emerging market of Latin America. HSBC has organized its products and services to grab as much market share as possible, focusing on all customer levels-from the mass... more
13 August 2008 marked a new milestone for TradElect, the Exchange’s electronic trading platform: all 100 of the busiest days ever on the London Stock Exchange have now taken place since the introduction of TradElect in June 2007. During August, the number of electronic equity trades carried out across London Stock Exchange Group averaged 883,525 per day. This represents a decrease of nine per cent on the extraordinary number of trades seen in August 2007 due to the onset of the credit crunch,... more
Risk analysis specialist, Palisade Corporation continues its drive to help organisations make informed decisions with the launch of DecisionTools Suite 5.0. The new offering is an integrated set of tools that enable users to perform a wide range of sophisticated risk analysis and decision support tasks in order to reduce uncertainty. DecisionTools Suite 5.0, which has been designed as the 'Microsoft Office of analytical software' is the only product of its kind on the market.DecisionTools... more
Data Explorers today announced the appointment of Jonathan Morris as COO and Christopher Holmes as Sales Director. Both bring with them a wealth of experience from the financial information industry. Jonathan Morris Jonathan Morris led the integration effort for the new combined Thomson Reuters Sales and Trading content and technology organizations, and was also responsible for Thomson Financial’s global content management group of over 3,000 staff. Prior to this Morris led the European and... more
ACI Worldwide, Inc. (NASDAQ: ACIW), a leading international provider of software for electronic payment systems, today announced a new version of ACI Proactive Risk Manager™, the company’s comprehensive fraud monitoring and detection solution. Proactive Risk Manager Release 7.1 Version 08.2 maximises the performance of the solution on IBM’s System z hardware platform and includes expanded support for IBM’s DB2 database platform and their enterprise-wide Tivoli monitoring tool. The new... more
CA Cheuvreux announces the opening of a subsidiary in Istanbul, which has already begun operations with an execution offer. CA Cheuvreux is building up a team with expertise in the region that will eventually comprise 15 professionals in the coming months, including 5 analysts, 3 sales people, 1 economist and 2 sales traders. The team will be managed by Attila Kadikoy, and the research activity will be headed by Can Yurtcan, who is due to arrive on 15 September. Mr Kadikoy and Mr Yurtcan both... more
New guidelines for government-backed investment vehicles have been set at a meeting in Santiago, Chile.Representatives of 26 sovereign wealth funds (SWF) agreed after two days of talks that a new trade body should be convened in order to represent themselves to other governments, the Times reports.The funds, some of the largest of which can be found in oil-rich Gulf states, have been active over the past year as the credit crunch has frozen bank lending and hit the revenues of financial... more
Subpoenas of Bank of America executives are to be sent out today or tomorrow over the bank's alleged miss-selling of auction-rate securities, Reuters reports.According to an anonymous insider, New York attorney-general Andrew Cuomo is targeting the bankers for apparently wrongly selling the instruments to clients as risk-free investments.Recent speculation has suggested that Mr Cuomo's office was approaching settlements with banks caught up in the auction-backed securities row.However, the fact... more
The brother of a jailed hedge fund manager has pleaded guilty to helping to conceal fraud.Matthew Marino, brother of ex-Bayou Group finance head Daniel, told New York federal prosecutors of his knowledge of the crime, which defrauded clients of around $400 million.The defendant could now face up to three years in jail under federal sentencing guidelines - while his brother and Bayou co-founder Samuel Israel are currently serving 20-year terms.Mr Israel hit the headlines this summer when, prior... more
PROFILE, a world class IT vendor with high specialization in Financial Software is showcasing at SIBOS, its next generation Financial Management System FMS, which includes advanced functionality to manage Investment & Banking Requirements. Its innovative functionality has already been modularly adopted by large organisations in Greece and abroad. More particularly, the system can be used either as a stand alone or as an integrated application and some of its modules already in use include: FMS... more
Know-Your-Customer and Anti-Money Laundering specialist, Datanomic, today announced that Lloyd’s, the world’s leading insurance market, has selected and implemented Datanomic’s dn:Director Sanctions & PEP (Politically Exposed Persons) Screening software as part of the fabric of their internal central intelligence system. Lloyd’s is the first global insurance market to implement Datanomic’s systematic risk screening software, which will help analyse data, mitigate risk and ensure... more
Tullett Prebon (“Tullett Prebon”), a leading voice broker in the energy sector, today announces the launch of tpENERGYTRADE, a hybrid voice and electronic energy trading platform. Initially, tpENERGYTRADE will be offered in Canadian and Western U.S. gas and in Ontario Power Markets. The new platform will be fully supported by Tullett Prebon’s team of brokers in Jersey City, NJ and Calgary, Canada. The firm plans to offer tpENERGYTRADE to all power and gas markets in the future.The hybrid... more
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