2008 Buyers Guide & Resource Directory
Looking Ahead | Transatlantic Exchanges, Brokers Put Their Money on European Options Growth | Research Technology Ready to Enter a 'Breakout Year' | Next-Generation SMAs In Search of Next-Generation Solutions | E-Mail Archiving Growth Fueled by Federal Rule Changes |
December 17, 2007
Welcome to the annual Securities Industry News Buyers Guide and Resource Directory, where we present a categorized who's who of systems and service providers as well as a look forward at the trends that will affect our readers in the year ahead.
Much has changed since our 2007 edition, which is hardly surprising given the blink-and-you'll-miss-it nature of the financial services industry. Exchange mergers were announced at a rapid clip--Deutsche Borse's Eurex with the International Securities Exchange, the Nasdaq-OMX-Borse Dubai tie-up, and Nasdaq's purchase of the Boston Stock Exchange and Philadelphia Stock Exchange, to name a few--making the formation of NYSE Euronext, which was finalized in April, and CME Group's combination of the Chicago Mercantile Exchange and Chicago Board Options Exchange, closed in July, seem almost old hat.
On the regulatory front, the U.S. Regulation National Market System and its best-execution requirements have furthered market fragmentation, driven up trading volumes and led to a flood of market data. Whether the European Union's Markets in Financial Instruments Directive, which went into effect on Nov. 1, will have similar results, as is anticipated, will be a question for 2008.
And the downturn in the credit markets, sparked by the subprime debt crisis, has shaken investors' confidence in mortgage-backed securities and caused them to take a closer look at the risks involved in a variety of complex financial products.
All of these developments will continue to play out in 2008, and SIN will cover each twist and turn. But in this Buyers Guide, we turn our attention to other growth areas that will see plenty of activity next year. One such sector, research technology, is booming, as Alex Jaworski points out, as buy-side firms look to both better manage the massive amount of information that floods portfolio managers' in-boxes and take some of the research function upon themselves. Vendors that provide tools for intelligent search and data mining, research performance measurement and management, among others, will find a tremendous amount of growth in IT spending, according to TowerGroup research director Dushyant Shahrawat.
For many in the wealth management industry, a major focus next year will be on finding technology solutions to the operational challenges created by the next-generation of separately managed accounts--unified managed accounts and unified household accounts--says Chris Kentouris on page 12. And one year on, the changes to the U.S. Federal Rules of Civil Procedure are driving vendors to develop innovative e-communications archiving systems that are increasingly geared toward not just storing information, but finding and delivering it quickly, reports Carol E. Curtis.
And what does 2008 hold for the newly transatlantic exchanges that have resulted from this year's slew of mergers? As John Hintze writes, they will be working to integrate their systems with an eye on capitalizing on growing interest in options trading among retail investors on the Continent, as U.S. broker-dealers expand their operations in Europe to take a piece of that market.
We hope that you find this guide useful, and we look forward to continuing to deliver our unique news and analysis in the coming year.
Securities Industry News