November 27, 2006 Issue Abstract
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Investment Operations Outsourcing: The Secret of Successful Outsourcing May Be ‘Right Sourcing’ and ‘Robust Issue-Tracking.’ Of all the challenges in outsourcing any investment operation, the biggest one centers on making the changeover and actually handing functions to the outsourcer, while keeping the operations running without a hitch.
Industry Alert: Exchange Plans Signal Revenge of the Brokers. The emergence of a new consortium of seven major global brokerage firms who plan to create their own pan-European exchange may be a sign that buy-side firms had gained the upper hand in market structure battles.
Regulatory Watch: Margin Rule Changes Warrant Systems Enhancements. The US Securities and Exchange Commission’s portfolio margining rules change will require investment management firms to integrate characteristics of different financial instruments in their systems.
Spotlight: William R. Harts, Managing Director and Head of Strategy for Equities, Banc of America Securities.
On The Exchanges: Tel Aviv Raises Its Profile in a Global Marketplace. Driven by its robust technology and military equipment industries, Israel’s economy, as represented in the Tel Aviv Stock Exchange, is becoming a model of progress for emerging markets.
Behind The News: Nomura-Instinet Union Heralds More Global Mergers. The acquisition of global agency broker Instinet Inc. by Japanese global financial services firm Nomura Holdings Inc. for a reported $1.2 billion could be the harbinger of changes in the agency brokerage business.
The News Network: Fidelity Debuts CrossStream Alternative Trading System; AOL Acquires Search Technology Company Relegence; Currenex Introduces Standard Open STP/FX Protocol.
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