JPMorgan Chase and Co. is seeking incentives to build two towers on Manhattan's West Side, with the total space reportedly being equal to two Empire State Buildings. The buildings would be...
The Financial Industry Regulatory Authority has seen positive results from the work it has done so far in migrating toward big data analytics and cloud-based technology for market surveillance. As a result, it is leveraging those same technologies in its bid to build and run the Securities and Exchange Commission's Consolidated Audit Trail (CAT).
CME Group announced this week that it will cut 150 jobs representing 5 percent of its workforce, in response to what it called "changing market dynamics." The majority of the job cuts will be in the technology area, with some cuts in corporate and administrative functions as well.
High-frequency trading has been accused of bringing many changes to the market, but one technological shift it has not received much credit for is an increased awareness on the importance of time-synchronization.
Barclays is turning around its investment banking business with a strategy that focuses on return on investment rather than revenue growth, Tom King, CEO of Barclays' investment bank, told attendees of the Barclays Global Investor's Conference in New York.
Historically, firms who wanted to guarantee 100 percent uptime for their applications have grossly overprovisioned the amount of infrastructure devoted to mission critical applications, often resulting in servers that operated at less than 50 percent capacity, sometimes at as little as 15 percent capacity.
Having dispersed some back office jobs or support jobs to places like New Jersey, Delaware or Florida, JPMorgan is reportedly considering moving a leaner central headquarters team into a new building.
JPMorgan Chase is cutting hundreds from its IT support staff as a trading slump marked by low volumes and low volatility continues. In addition to layoffs, some employees have accepted demotions or moved to lower cost office space in an attempt by the firm to control costs.
When multibillion dollar hedge fund Pequot Capital Management announced in 2009 it would close its doors at the end of that year, some senior members of the IT department were faced with decisions on the next step in their careers.
BlackRock plans to build a 31,000 square-foot data center in Amherst, N.Y., near Buffalo. The $80 million effort is one of the biggest development projects in the town, though other companies have built large data centers in nearby, western New York towns.