SmartStream’s North American growth continues with Toronto office opening and New York expansion
8 July 2010
SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced further investment across North America as it continues to win new clients in the region.
SmartStream’s North American operations have experienced significant growth over recent years with leading US investment banks, hedge funds and asset managers becoming clients. This latest investment reflects both the company’s focus on serving the newly expanded customer base and recognition of the region’s continued growth prospects. A new Canadian operation, run out of Toronto, will be headed by Kurt Eldridge who until recently was sales manager for SmartStream’s operations in Australia and New Zealand. In that role, Kurt helped to expand SmartStream’s business in the region working with some of its largest institutions to win new business and manage the successful deployment of the company’s TLM solutions.
SmartStream’s existing New York office is also expanding with the appointment of Bill Blythe, who is moving from the company’s UK operations to oversee sales for North America. Bill brings a wealth of experience having been instrumental in SmartStream’s continued success in the UK, signing major clients to a variety of solutions including TLM Cash Management, TLM Reconciliations and TLM Corporate Actions.
Commenting on the organisational changes and investment, Philippe Chambadal CEO, SmartStream, said: “These latest changes reflect the significant amount of new business SmartStream has transacted in North America over the last 18 months. Both Kurt and Bill are highly successful sales professionals who have achieved significant results, signing some of the biggest clients to a range of TLM solutions. They have strong track records and a proven ability to partner with some of the largest and most exacting clients. With Kurt and Bill now in place I’m convinced our North American business will continue its success and deliver even greater growth over the coming years.”
Thursday, July 8, 2010
European Dark Pool growth
Interesting article in Finextra. Market dark pools are continuing to grow in Europe with Turquoise, Nomura, Chi (whatever) and SmartPool (NYSE/Euronext). The author indicates that keys to getting liquidity includes distribution, similar to the old 'bricks and mortar' concept of a decade ago, transparency, and good marketing. See previous post about the challenges this puts on the buy side trying to find the best price for large block trades. Technology vendors, brokers, and other EMS providers will be filling this quite quickly. Makes you wonder if the roliferations of European MTF's and US dark pools is a broker 'pushed' concept to strengthen revenes by providing not only the venues themselves, but the technology to help institutional investors navigate the changing, and often confusing landscape?
Wednesday, July 7, 2010
I have always wanted to say this
Dow Roars Past 10000 Again
Ok, another article in wsj.com this afternoon reporting on the big move in the market today. Great, we are all happy that there was a 3% jump in the Dow. But what gets me is the lame analysis we get everyday about why the market moved. Today's was a good example:
Stocks rallied, reversing a three-week slide and pushing the Dow Jones Industrial Average through the 10000 mark as investors grew hopeful for the approaching earnings season.
Are these the same investors that make up 'black box robots' that account for the 40% of the market's volume. These little software roboots sole job is to arbitrage the 70 dark and lit pools that exist in this country for the sole purpose of ripping off private investors that are hopelessly trying to save for their retirement and kid's education.
Can someone please tell me that today's market structure is really better than the single/dual marketplace we had a decade ago? That the brightest math and science minds that our top universities develop rush to New York or Chicago the day after graduation to get jobs building 'tradebots.' Ok, I will get on the bandwagon... this country doesn't produce anything meaningful anymore. And to state the obvious, maybe if more of these 'bright minds' worked on things that were meaningful, we would know why the market went up each day.
So really....why did the market go up today?
Ok, another article in wsj.com this afternoon reporting on the big move in the market today. Great, we are all happy that there was a 3% jump in the Dow. But what gets me is the lame analysis we get everyday about why the market moved. Today's was a good example:
Stocks rallied, reversing a three-week slide and pushing the Dow Jones Industrial Average through the 10000 mark as investors grew hopeful for the approaching earnings season.
Are these the same investors that make up 'black box robots' that account for the 40% of the market's volume. These little software roboots sole job is to arbitrage the 70 dark and lit pools that exist in this country for the sole purpose of ripping off private investors that are hopelessly trying to save for their retirement and kid's education.
Can someone please tell me that today's market structure is really better than the single/dual marketplace we had a decade ago? That the brightest math and science minds that our top universities develop rush to New York or Chicago the day after graduation to get jobs building 'tradebots.' Ok, I will get on the bandwagon... this country doesn't produce anything meaningful anymore. And to state the obvious, maybe if more of these 'bright minds' worked on things that were meaningful, we would know why the market went up each day.
So really....why did the market go up today?
Infrastructure Security - Perfect Citizen
In 
a recent article in the Wall Street Journal, it was reported that the NSA started a program called 'Perfect Citizen' and has put software sensors in the computer systems that drive this countries key infrastructures. I guess that seems like a good idea, if we know for certian that they work and the people looking at the data know what they are looking for. Are the claims of 'Big Brother' just noise to reinforce some peoples naive view that everyone will just 'play along nice.'
a recent article in the Wall Street Journal, it was reported that the NSA started a program called 'Perfect Citizen' and has put software sensors in the computer systems that drive this countries key infrastructures. I guess that seems like a good idea, if we know for certian that they work and the people looking at the data know what they are looking for. Are the claims of 'Big Brother' just noise to reinforce some peoples naive view that everyone will just 'play along nice.'I would suspect that private industry is clever and motivated enough to keep their technology secure, but sometimes I wonder. Not long ago I thought Wall Street investment banks were clever enough to keep from going out of business, and as documented in 'The Big Short' by Micheal Lewis, we know what happened. Does drive for short term profit really cause senior managers to overlook the fundementals? Is security one of those fundementals?
Government run facilities and 'utilities' to me seem another story completely. Are the people that run these organizations really equiped with the people, technology, and motivation to keep systems secure from outside threats? If there is at least a bit of concern, what's wrong with another set of eyes from the NSA keeping tabs on malicious threats. We all know they are there and that the next war will be fought with silicon rather than steel.
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