CORE DUMP
CORE DUMP
A Dow Jones Telerate spokesperson says that the vendor is not going to go ahead with a Minex incentive plan as described in a recent internal memo. The memo, discussed in the last issue of TST, described a scheme under which Telerate would offer free data services and credits on data services to trading firms based on their usage of the Minex FX dealing system. Minex was to reimburse Telerate for all the give-aways. The spokesperson says the vendor is now weighing alternative incentive plans.
C.ATS Software
may have scored a public relations coup at the end of last month when it got the New York Times to write up its new Ficad system on page one of the business section. But in TST's opinion, the story's writer buried the lead: The most interesting nugget of information came in the dead-last paragraph of the absurdly long (nearly 30 paragraphs) story. There, the Times recorded the following quote from Chris Conde, chairman and chief executive of C.ATS competitor Sungard: "We spent millions of dollars working on Nextstep, but it went nowhere, so we switched to Windows NT." (Ficad, by the way, is meant to integrate computer-aided design tools into risk management applications.)Tiger on the Prowl: Former Morgan Stanley managing director and global risk management head Robert Feduniak has taken a consultant position with Tiger Management. Feduniak, who had also previously headed Morgan's worldwide finance, administration and operations division (TST, Nov. 30, 1992), oversees the development of risk management and trading room systems at Tiger. According to sources, Feduniak is also a risk management and back office systems consultant to Smith Barney Shearson. Morgan officials decline to comment. Feduniak did not return calls seeking comment.
Renaissance Software
recently hired former DKB Financial Products executive Sean Togher to oversee its Opus product line. Togher, who was senior vice president for operations and systems at DKB, will play a "senior role" in client services, sales and marketing for Opus -- Renaissance's derivatives trading system. A Renaissance official says Togher will also "prioritize" and "evaluate" the enhancements the firm makes to the Opus product line.Sign on the Dotted Line Dept.: Swiss Bank's capital markets and treasury division has purchased ADS's Global Trader FX and Treasury Dealing workstation modules in an attempt to integrate its foreign exchange and money market trading desks.... The Phibro Energy division of Salomon Inc. is deploying OMR Systems Corp.'s Trading Assistant to support its core precious metals trading group on a service- bureau basis.... Nasdaq has signed a $500,000 deal with Cadre Technologies Inc. to receive a plethora of software development systems, including the so-called Teamwork family of products and Ensemble reverse-engineering tool suite.... J.P. Morgan has gone live with Frustum Group's Opics Windows-based treasury and capital markets system at its Delaware-based Global Markets office.... PNC Bank Corp. and CoreStates Financial Corp. are among Hogan Systems Inc.'s list of clients for a newly released line of software services.
Speaking of deals, Micrognosis earlier this year finally got Infotec to transfer its former relationship with FD Consulting. Under the terms of the so-called "global trading partnership," Micrognosis gets the exclusive right to peddle Infotec's Infotrade display software on its Mips digital data distribution system -- outside of Switzerland. Infotec will continue to market and support its products within Switzerland -- and will also be free to implement Infotrade on platforms other than Mips within its homeland.
NeXT Computer
will port release 2.0 of its PDO (Portable Distributed Objects) software to Digital Equipment's OSF/1 operating system sometime this summer. DEC will run NeXT's object-oriented PDO software on its Alpha AXP servers.Microsoft
and Sybase announced last week that they had ended a seven-year alliance under which they collaborated on systems using the Sequel Server relational database management system.Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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