The banking industry has been battered, and that has crimped IT spending , obviously. But at some point the good times will roll again. Has SS&C timed the recovery just about right? We'll see. The maker of financial services software, which just announced the launch of its Antares Trader buy-side order and execution management system solution, is aiming to raise as much as $161 million via an initial public offering (IPO news) on the Nasdaq (Nasdaq news) under the symbol SSNC. Some analysts think it will price on the high side, or even above, the indicated range.

The turmoil in the financial services industry, just about the only industry SS&C sells into, has been tough on the Conn.-based firm. It was forced to scuttle an earlier attempt to go public. But better times are likely ahead, as the industry recovers and as the firm finds ways to boost margins. Technology IPOs are in vogue right now. And you get the sense that the worst may be over in terms of financial industry IT spending. 

For more:
- here's a Wall Street Journal item

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The idea that Wall Street road shows will be changed profoundly by the Internet and new technology seems old. We've been talking about it since at least the retail IPO (IPO news) boom--which seemed to peak with the dot-com boom. But Instinet has revived the idea with its new Meet the Street service, which it is rolling out now as a way for issuers to reach past the traditional sell-side research apparatus and get in front of actual investors. 

When the service is fully running, it will help IR staff reach out to potential buyers and even organize meetings, right down to booking meetings, flights, hotels and transportation. It could even be used to plan roadshows, the company touts. That functionality may well prove to be a hit with companies desperate for research coverage and analyst attention. Right now, the launch is in its inchoate phases, essentially trying to get investors to input their information and companies they would like to meet with. The product was built by a former hedge fund manager, Dan Dykens, who shopped it to Instinet, where he will stay on to manage the product. 

For more:
- here's an article from IR magazine 

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We've noted that cybercriminals have increasingly found ways to compromise the bank accounts of small enterprises, many of whom lack the online savvy to thwart the bad guys. What role does the bank play in this? Well, it might surprise you to learn that U.S. banks aren't exactly on the forefront of security when it comes to online banking by its customers.

Bank Technology News says this: "U.S. banks fret that desktop security features could inconvenience the customer and hurt the online experience. But they also fear liability-that by recommending a security feature for clients, the bank will be held legally responsible if any security-related losses occur."

At least one expert says that U.S. banks are lagging their counterparts in Europe by about 18 months when it comes to security offerings. But you would have to think that U.S. banks will change their tune on browser security as liability from breaches (data breach news) slowly starts to grow. Fifth Third has decided to be a pioneer. It will launch a pilot security solution for corporate clients that aims to "lock down" the online banking session between the customer's computer and the bank. The specifics are unclear but it may require some extra software and few more steps. Still, the inconvenience would be worth it for added safety--but if a breach still occurs, then what? 

For more:
- here's the article

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The rise of the maker-taker model stands out as a profound movement. Made popular by Electronic Communication Network pioneer Island, it made huge inroads first in the equity world--and has emerged as a de facto standard--and the options world soon followed in fits and starts. The ISE becomes the latest to embrace the concept. It has announced it will adopt maker-taker pricing soon for its options operations in a bid to revive its market share. The move comes as other options exchanges have moved back to a more traditional fee model in which customers, the so-called liquidity takers, are not charged such high fees.

It's fair to say that a lot of experimentation is still going on. Many are opting for blends of maker-taker and traditional customer fee pricing regimes. A recent study by three academics may hold some sway over the debate. It argues that, "the maker-taker model deployed by exchanges and ECNs benefits neither liquidity providers nor liquidity takers. Worst of all, it distorts stock prices," notes Traders. While spreads have declined, liquidity takers--customers--have to pay access fees. Thus actual "economic spreads" have not changed; quoted spreads have narrowed in part because they do not take these access fees into account. Those most harmed include internalizing market makers; they do not receive rebates.

The solution put forward: Require brokers "to pass through the rebates and access fees to their customers. Barring that, the SEC should eliminate access fees." The study was underwritten by Knight Capital Group. 

For more:
- here's the article

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Cloud computing (cloud computing news) has made huge gains on Wall Street in some areas, like customer relationship management and human resources. But in more core financial areas, the trend has been much slower to develop.

A report by the Tabb Group has found that cloud computing has been stymied in the front office by latency issues; the cloud represents another stop along the way for transaction information and that adds crucial time to a process that depends on raw speed measured in milliseconds. In the back office, latency isn't an issue, but regulatory and compliance (compliance news) are issues. The industry has yet to find ways to deploy cloud computing and still maintain regulatory burdens governing client information security, counterparty data and the like.

Kevin McPartland of the Tabb Group tells Securities Industry News: "Technologically, it's ready, but from both cultural and regulatory [perspectives], financial services are not ready for cloud computing." One issue is the ability of the cloud to handle information spikes that may occur infrequently. All that said, the benefits are compelling and a lot of vendors are addressing financial services-specific concerns. 

For more:
- here's the article

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You might think that more retail customers would be seeking to switch bank accounts, given the negative press about banks in general. However, people generally seem to be staying put for reasons that demonstrate the low-tech mentality the public still has when it comes to finance. Many want to be near a branch, and few are yet comfortable with remote deposit technologies, for example. Article

> DTCC provides more access to CDS data. Article 
> NYSE traders now get to sit down. Article
> Poll: Rising adoption of mobile banking. Article
> More on "hot news" court ruling. Article
> Colleges as bank tech tests. Article 

And Finally... iPad sales are anyone's guess. Article