SIFMA CONFERENCE
Slate Of New Data Center
Products Expected To Be
Showcased
PAGE 18
VOLUME 21 NUMBER 14
SECURITY p. 14
Is It Safe In The Clouds?
RISK p. 15
Behind The Growth In Risk Management
TRADING p. 16
Carbon Trading Creates Opportunities
JUNE 22, 2009
DATA MANAGEMENT p. 18
Data-Centers-In-A-Box Break Out
Microsoft Readies
CEP Tests
SPECIAL
REPORT
By Katherine Heires
MICROSOFT SAID THAT
July is the month when it will
kick-start testing and evaluation efforts with several financial service firms—yet to
be named—for a new complex
event processing platform that
the Seattle-based software giant is in the process of developing in-house. The complex
event processing offering is
scheduled for an official launch
in the first half of 2010.
The move makes sense
as Microsoft is a prominent
technology provider to financial services firms and emerging complex event processing (CEP) technology—which
CONTINUED ON PAGE 21
New Options Rule
May Add To IT
Burden
HOW OBAMA’S PLAN HITS HEDGE FUNDS, DERIVATIVES
At first glance, the financial regulatory reforms the President proposed last week hold few
surprises. But details of the plan suggest that some large hedge funds and over-the-counter
derivatives traders may need to change the way they operate.
STORIES ON PAGES 6, 7
securitiesindustry.com
a SourceMedia brand
Pershing Uses Analytics
To Keep Score On Clients
By Thomas Hoffman
WITH SECURITIES INDUStry firms these days placing
such a high value on keeping
the customers they already
have, it’s little surprise that Pershing
LLC has an effort
underway to continuously improve the processes
it uses to keep its custodial
services clients happy.
But while other firms are
also pushing harder to improve customers’ experiences,
Pershing’s development of an
up-to-the-second scorecard on
customer service satisfaction
“is probably a differentiator for
them (Pershing) today,” says
TowerGroup analyst Rodney
Nelsetuen.
Jersey City, N.J.-based Pershing in
late 2006 began developing a reporting
tool that makes it possible for
customers and independent
broker/dealers to view their
transaction histories for any
approvals that may be pending
on a request for a funds transfer, for instance, or the amount
of time it took to process a
CASE
STUDY
By John Hintze
PENDING REGULATORY
changes due to take effect over
the summer are already stretching the workdays of technology
and operations staffs at the most
active options-market participants, and the rest of the market
may soon have to ramp up its capabilities to adjust to a very different trading environment.
Initiatives to quote options
in pennies and link the exchanges to facilitate executing
orders at the best bid and offer
are set to take major steps forward in the next months.
NYSE Arca’s late May fil-
ing to expand the pilot by 300
options classes, followed quick-
ly by two other exchanges’ fil-
funds transfer or to evaluate ings, brought home the reality
the percentage of transactions of next month’s deadline on
reopened by customers after options quotes. Last Tuesday,
anerror. the Securities and Exchange
In turn, Pershing executives Commission requested the ex-
are able to analyze records such changes to delay the expansion
as these to continually make ad- until October, while the linkage
justments and improvements to CONTINUED ON PAGE 20
its nearly 400 customer quality
service processes while evalu-
ating and rewarding managers
for proficiency and success on
different metrics, says Evan La-
Huta, a director in Pershing’s
quality management office.
The comparison and evaluation of customer satisfaction
is performed with a variety
of software tools on a support system for broker-dealers
called NetExchange.
CONTINUED ON PAGE 22
ONtheWEB
securitiesindustry.com
Daily Sifma Updates
Cloud computing, open source,
clearing, compliance, risk man-
agement, data management, col-
location services—and more—
are expected to be showcased
at this week’s Sifma technology
management conference. Securi-
ties Industry News will keep you
up to date with a steady stream
of news, analysis and insight
from the show.
