IDC estimates that financial services firms worldwide will allocate more than $430 billion to IT spending in 2014. But as firms weigh how much to budget for data, cloud computing and other hot technology next year, some of these technologies are increasingly becoming part of the budget process in ways other than as line items.
Cyber Monday is supposed to be the biggest online shopping day of the year but for Royal Bank of Scotland customers in the UK it was a day of frustration as a systems glitch left them unable to use their debit cards online or elsewhere.
When ICE acquired NYSE Euronext last month, the NYSE Liffe derivatives markets were considered key parts of the deal. Now, the newly merged company has made its first announcement that affects that part of the business.
With the pace of trading now measured in milliseconds, or even microseconds, many firms have become increasingly concerned with ensuring that the time clocks on their disparate systems are accurate and synchronized with one another. But once that accuracy is established, there is a whole host of different issues to address, from GPS jamming and spoofing to the challenge of continuing to measure time during IT disruptions.
Societe Generale is going live this month with a new trading system on its Paris trading floor that includes new turrets and recording services on a pure IP architecture. The new trading technology in Paris is part of a global trading overhaul by the bank that involves standardizing trading floors around the world on the same platform.
State Street has become the latest custodian bank to turn to data mining as a new revenue stream. The move means State Street will follow rival BNY Mellon in trying to capitalize on the extensive data it collects from clients as part of the custodial business.
Small fee moves can make for big news when it comes to the unfolding mobile payments industry. The latest pricing development comes from Square, the payments startup known for its trend-setting POS dongle and in-store payment system. It announced on its website it will eliminate its much-ballyhooed monthly flat-fee option for smaller businesses in favor of a "per swipe" fee.
Ongoing investigations into various issues related to the currency market and the Libor rate-setting scandal ar efocusing on traders' use of chat rooms, especially those that allow clients to interact with more than one dealer.
When it comes to new technologies, first-mover status does not guarantee success. And no one can predict with any certainty that Bitcoin will remain on top.
The IntercontinentalExchange assumed formal control of NYSE Euronext this month and now faces the massive challenge of integrating the combined entities' main pieces.
When it comes to private equity fund limited partners, Institutional Investor comes to a shocking conclusion: all too many rely on spreadsheets and homegrown tools to monitor performance.
Getting to "open" isn't always easy, something that the banking industry is figuring out as it ponders the next generation of its enterprise networks. For vendors, the need for open networks represents a huge opportunity. No one should be surprised that the likes of Cisco, Juniper and HP have joined something called the Open Networking User Group, which aims to promulgate industry standards.