September 1, 2008 Issue Abstract

Focus on the Customer: Financial Firms Seeing CRM Systems as Drivers For Retaining Clients, Delivering Added Value. After the commoditization of customer relationship management (CRM) systems in recent years, investment management firms find themselves seeking advanced features and new capabilities that, for a price, could lift CRM technology out of its rut by building added value into the very elements that put it there in the first place.

Industry Alert: SEC to Replace EDGAR System With New IDEA. The US Securities and Exchange Commission has announced plans for Interactive Data Electronic Applications (IDEA), a new architecture for its financial information of public companies and mutual funds that will replace EDGAR, its 1980s-era database of financial information filings.

Spotlight: Richard M. McVey, Chairman and CEO, MarketAxess. Electronic fixed-income securities trading platform MarketAxess is looking to boost its European business begun in 2002 and keep an eye on possibilities in Asia and the Middle East. Its goals included aggregating pricing and liquidity in a manner supporting the kind of transparency that might have prevented the structured products decline of earlier in 2008.

Electronic Trading Forums: BATS Trading to Become an Exchange by October 24. By gaining SEC approval to operate as an exchange, BATS Trading Inc. expects to increase its market share in NYSE-listed securities another 3 to 5 percent.

Corporate Watch: Nasdaq OMX Group Targets Global Growth. The Nasdaq OMX Group wants to make 2008 the year in which it integrates its recent acquisitions and also transforms itself into a formidable global competitor as an electronic trading venue.

Prime Brokerage Services: SWIFT to Offer Trade-Matching Services for Prime Brokers. Once global financial messaging utility SWIFT develops and launches a planned central pre-settlement trade matching solution, scheduled to be tested in the fourth quarter, prime brokers will be able to bring their own executing brokers onto the system.


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