Securities Industry News Clips from 2002

The Downside Of Web Services: Security Risks
As Web services proliferate across Wall Street, new security vulnerabilities will also appear, experts warn. The first and most obvious concern is the lack of common security and transaction standards. "Because of the stage of maturation of the security standards, you have to be very selective about how you use Web services outside of the enterprise," said Merrill Lynch CTO John McKinley. Merrill Lynch has been on the leading edge this past year in deploying Web services in the enterprise, and has joined the Web Services Interoperability Organization, an industry group, in order to bring a Wall Street user perspective to standards development.
Securities Industry News (December 23, 2002)

IBM-BEA Deal: Buy Solaris, Get WebLogic Free
Just in time for the holidays, customers who buy Sun's Solaris 9 operating system will get six free months of BEA Systems' WebLogic Server. The deal may be a sign that Sun is having problems with its own Sun One Application Server, but it's a great coup for BEA in its competition against IBM's WebSphere.
Securities Industry News (December 23, 2002)

Windows Cheaper Than Linux? Not on Wall Street
According to a recent Microsoft-sponsored study, Windows is cheaper than Linux when it comes to total cost of ownership-but don't throw out your Linux servers just yet. The results don't apply when it comes to the most common Wall Street applications, analysts say.
Securities Industry News (December 23, 2002)

WebSphere Upgraded But Hindered by Standards Gap
Billed as offering better security, business process work flow and management tools, IBM's new WebSphere Application Server version 5 (WSAS 5), released on Nov. 25, lets companies better integrate their business processes across the enterprise and with partners, suppliers and customers. But it's still a partial solution. The general lack of common standards for security and complex transaction processing means this latest release still requires some negotiations between partners.
Securities Industry News (December 9, 2002)

Tools Help Fend Off New Net Attacks
In protecting the enterprise from ever-escalating assaults from hackers within and without, corporate security pros now have a new weapon-smart devices that can detect even never-before-seen attacks. Ever on the front line, financial firms, including the New York Mercantile Exchange, are among the early adopters of this new technology.
Securities Industry News (November 2002)

IBM, BEA Face Microsoft STP Competition
While Microsoft recently entered the straight-through processing fray with a new tool set, industry leaders IBM and BEA Systems continue to expand on their integration products. BEA unveiled a new way to bring together data from disparate sources earlier this month, and IBM continues to expand on its WebSphere product line, with a new version due the end of the month.
Securities Industry News (November 2002)

It's All About the Benjamins
Hackers don't just target Wall Street firms because they're visible icons of American power. They go after them because there's money at stake. "These are organized criminal groups who have made a business model around hacking because hacking is more lucrative than heroin or cocaine," said a World Bank security expert.
Securities Industry News (November 2002)

Microsoft Upgrades BizTalk
Microsoft is releasing a new set of integration tools on Nov. 4 that work with its BizTalk server application. The new tools will go head-to-head against products from BEA Systems and IBM.
Securities Industry News (November 2002)

Financial Users Balking at New Microsoft Pricing
Microsoft has always been the 800-pound gorilla when it comes to the desktop, but recent changes to its licensing policies have made relations with user firms somewhat strained. "It's sort of a love-hate relationship," said Putnam Lovell's Rodric O'Connor.
Securities Industry News (October 2002)

Data, Disaster Recovery Driving 10-Gigabit Ethernet
With the approval of 10-gigabit Ethernet as a standard for transmitting data over networks earlier this summer, vendors have already begun rolling out products, though many are waiting for prices to drop.
Securities Industry News Feature (September 2002)

Big Board to shift brokers to TCP/IP Standard
Although TCP/IP is the common communication standard for the Internet and in many other environments, the New York Stock Exchange has been supporting older protocols as well. But beginning last month, the NYSE stopped accepting requests for new lines based on old standards and, as of Dec. 31 2003, all customer lines into CMS (Common Message Switch) must use the TCP/IP communication standard.
Securities Industry News (September 2002)

Backup site saved Nybot
The New York Board of Trade (Nybot), which was located in 4 World Trade Center, lost its trading floor on Sept. 11. If a small, two-ring trading floor had not been previously built in Long Island City for just such an event, the exchange would have gone out of business permanently.
Securities Industry News (September 2002)

Microsoft, IBM, BEA Merge Web Services Standards
In the next release of IBM's Web services platform, called WebSphere, the company will start to implement a set of higher-order Web services standards developed jointly with competitors BEA and Microsoft.
Securities Industry News (August 2002)

PwC Buy to Put IBM in Top Biz Transformation Tier
With approval of the IBM-PricewaterhouseCoopers deal due by the end of September, Wall Street customers may soon see a greater range of strategic business consulting services from IBM, a timely addition to the technology consulting services the company now offers.
Securities Industry News (August 2002)

Sun Betting on Linux With Fully Packed Box
In a big step forward for the open-source operating system, Sun Microsystems is set to roll out a new general-purpose Linux server this Monday as well as announce that it is making the Sun One Web application server stack, formerly known as iPlanet, available on the Linux platform.
Securities Industry News Paid Archive (August 2002)

Catching the Outsourcing Wave
Pressure to reduce costs, improve efficiency and increase flexibility in the back office seem to be driving the brokerage industry toward a long-term shift to outsourcing.
Securities Industry News Paid Archive (August 2002)

Alliance Proposes ID Standard
The tantalizing goal of intra-company-and cross-company-integration got a step closer last week with the release of a new authentification and identity standard from Liberty Alliance.
Securities Industry News (July 2002)

Web Services: Changing How Firms connect
In the never-ending search to do business better, faster and cheaper, Wall Street firms are seriously looking at adopting Web services communication standards-and some are already doing more than just looking.
Securities Industry News (July 2002)

Internet telephony: Boon for disaster-recovery efforts
After Sept. 11, Merrill Lynch-which is located directly across the street from the World Trade Center site-discovered that voice over IP phones make moving people to new offices a snap.
Securities Industry News (July 2002)

Microsoft, Sun, HP, IBM, Intel Tout Alliances
Technology heavyweights Microsoft, Sun Microsystems, Hewlett-Packard, IBM and Intel all made their presence known at the Securities Industry Association's Technology Management conference last week, with announcements and presentations involving partnerships and alliances, straight-through processing and Web services.
Securities Industry News Paid Archive (July 2002)

Mercator, BEA Systems Team Up on Integration
Mercator Software and BEA Systems, two leading technology providers, have teamed up to offer Wall Street customers a set of integration tools-and to defend their turf against other vendors.
Securities Industry News (July 2002)

IBM Shuts Down Sequent's Numa-Q; Sun Makes Grab for Users
In 1999, IBM bought Sequent Computer Corp. and its Numa-Q line of servers for $810 million-only to shut it down completely last month, finally laying off its 250 Beaverton, Ore. employees amid a broader set of layoffs around the country.
Securities Industry News (July 2002)

Javelin, Iona Team Up for FIX-Based Web Services
Two leading technology vendors have hopped on the Web services bandwagon and announced last week that they have joined forces to offer a FIX engine over a Web services connection.
Securities Industry News (July 2002)

Mckinley Rides Merrill Lynch's Second Tech Wave
John McKinley, Merrill Lynch's chief technology executive, saw his first major tech downturn when he was still in grade school.
E-Securities (July 2002)

Natural-Language Speech Technology Can Ease Costs, Reduce Frustrations
To maintain phone-related operational efficiency in this environment- - and at a time when customers don't want to spend hours wading through those touch-tone menus -- is a challenge for T. Rowe Price and firms throughout the industry.
E-Securities Paid Archive (July 2002)

Searching for Quick Answers
Understanding what a customer writes is slightly easier than understanding what he or she says. When one writes, there are no regional accents or ambient noise. But still, there are pitfalls.
E-Securities Paid Archive (July 2002)

When Passwords Are Not Enough for Security
If cyber movies have taught Wall Street security experts anything, it's that passwords by themselves can't keep bad things from happening.
Securities Industry News (June 3, 2002)

Solaris 9 Promises More Security, Web Services Support
Sun took a step forward in the emerging area of Web Services last week when it announced that support for the technology will be directly integrated into the latest release of its Solaris operating system.
Securities Industry News Paid Archive (May 2002)

Distributing Data Can Save Time, Money- Maybe a Company
This year and next marks an inflection point for the storage marketplace on Wall Street. For the first time ever, firms are starting to look more toward networked storage when they buy new systems.
Securities Industry News Paid Archive (May 2002)

Networks without wires
Advances in security and a focus on business continuity plans are converging to make wireless local area networks more appealing to securities firms.
Securities Industry News (May 2002)

Internet Dominates Russia's Nascent Market
Newly formed stock markets have the luxury of avoiding burdensome traditions and impenetrable legacy systems. Russia is a prime example. The Russian equities market, fueled by advancements both large and small, has grown rapidly and is now dominated by Internet trading.
Securities Industry News (April 2002)

Instant Messaging Popping Up All Over
Instant messaging can improve communication and collaboration -- but if a company doesn't offer instant messaging to its employees, they will get it on their own by downloading insecure, unreliable and unarchived consumer solutions for free over the Internet.
Securities Industry News (April 2002)

At The NYSE, The Paper Chase Is Over
Perhaps the New York Stock Exchange's most famous image is the paper blizzard that comes with a bell-closing rally and the littered exchange floor that results. But times are changing. Much of the paper that once passed from trader to runner, from trader to trader and from trader to customer has been replaced by technology -- hand-held devices used for trade information, emails, instant messages and customer communications.
E-Securities (April 2002)

Sun Plugs Hole in Server Line With Starkitty
Sun filled a hole in its server line last week by introducing the Sun Fire 12K, otherwise known as "Starkitty."
Securities Industry News Paid Archive (April 2002)

Experts Warn of New Security Vulnerabilities
Hackers will soon have a new kind of soft spot to target-Web services.
Securities Industry News Paid Archive (April 2002)

More Java Spilling Across Wall Street Enterprises
Java has hit prime time on Wall Street. Java is versatile because the same program can run on any machine or device.
Securities Industry News Paid Archive (April 2002)

Compaq Vows Support for Himalaya Post-HP
The final results of the HP-Compaq merger vote may not be in for a couple of weeks, but early results show it's a go-and Compaq has been working overtime to ease customer minds about the integration.
Securities Industry News Paid Archive (April 2002)

Exchanges Take Hands-On, Hands-Off Approach to Devices
Unlike the NYSE, the Chicago Board Options Exchange doesn't provide hand-held devices to its traders, but it does encourage them to bring their own.
E-Securities Paid Archive (April 2002)

Linux system targets Infrastructure's Heart
Linux is rapidly becoming the best-kept secret on Wall Street. Although few companies want to talk about it, many are reportedly using the open operating system to lower the cost of their Web infrastructure and to run high performance computing applications.
Securities Industry News Paid Archive (March 2002)

Compaq, Intel Push Wintel-based STP solutions
Compaq and Intel last week said they are teaming up on a project called "Compass" that aims to bring straight-through processing applications to the Windows-Intel platform and includes financial technology vendors Neoves, Netik and SunGard.
Securities Industry News Paid Archive (March 2002)

Sun Microsystems Unveils Expanded Use of Linux
Sun Microsystems has slated a teleconference today, March 4, to tout its new commitment to Linux, the free and open-source operating system.
Securities Industry News Paid Archive (March 2002)

Firms Weigh Data Cleaning For STP, T+1
As the T+1 deadline looms, Wall Street firms are also starting to look to vendors to help them fix mistakes, fill in holes, and reconcile multiple data streams.
Securities Industry News Paid Archive (February 2002)

Grid Computing Could Cut Costs, Improve Performance
In a year of trying to do more with less, Wall Street firms are taking a hard look at grid computing -- a way to spread applications around servers regardless of their locations or the operating systems they run.
Securities Industry News Paid Archive (January 2002)

Brokerage Technology: Rethinking IT Priorities in a Tough Economy
Charles Schwab, Merrill Lynch, Ameritrade, Credit Suisse First Boston and Morgan Stanley all announced plans to lay off employees this year.
Securities Industry News Paid Archive (January 2002)

HP-Capco Alliance to Target Financial Services
Hewlett-Packard's $30 million deal with Capco announced last week gives the hardware vendor financial services consulting capability-and lets it compete with IBM's full-service approach.
Securities Industry News Paid Archive (January 2002)