City of Boston officials are trying to decide what action if any they can take against Mellon Financial Corporation one idea is a $1 million payment for outsourcing up to 300 jobs at its Everett operations facility to India, according
LCH.Clearnet said it welcomed ISDA's current strategic focus on straight through processing and its acknowledgement of the benefits of clearing in reducing credit and operational risk. LCH.Clearnet is the only central counterparty in the world providing clearing, through its SwapClear
Sun Microsystems, Inc. this week said its customers and partners are running their consumer websites and grid solutions on Sun's "virtually unmatched" price performance, x86 offerings. These wins mark a broadened footprint for Sun's growth in emerging industries such as
Nikko Group, a Japanese brokerage firm, said it has teamed up with Foliofn, a U.S. online brokerage and back office software provider, to offer the country's first separately managed account service so investors can directly own a variety of Japanese
The Bank of New York is transferring 1,500 securities services operations executives beginning next month to a 229,000 square foot facility in Brooklyn as part of the bank's ongoing disaster recovery efforts, bank officials said this week, as reported in
Investment Company Institute Chairman Paul Haaga testified before the Senate Banking Committee this week, calling for strong sanctions to be levied on firms who abuse mutual fund trading. He also said that an objective appraisal should be made concerning the
The Investment Company Institute said that "now, more than ever, it is essential that the SEC be provided with the funding and staffing it needs ... to fulfill its mission of protecting the nation's investors." The ICI's views on funding
Deutsche Brse AG closed its fiscal year 2003 with record pre tax earnings of 453 Euros before interest, up 29 percent. Including net interest income from its banking business, the company's revenue jumped by 28 percent to 1.51 billion Euros.
ADP Wilco, a subsidiary of Automatic Data Processing, Inc. this week said it has upgraded its CHESS interface which provides two way connectivity with the Australian Stock Exchange (ASX) clearing and settlement service CHESS (Clearing House Electronic Subregister System). The
The Investment Company Institute said it strongly supports pending bipartisan legislation intended to encourage "financial literacy" for U.S. individual investors. The legislation, House resolution 578, reinforces the goals and ideals of Financial Literacy Month. Congresswoman Judy Biggert (R IL) and