For the second time within the space of a year, Credit Suisse is announcing cuts, this time trimming a further SFr1 billion ($991 million) in operating costs amid challenging market conditions, including lower fees from asset management and a slump in investment banking, The original target had been to reduce its operating cost base to… Read More >>
Women on Wall Street Say ‘Equity’ Gets It Right
The new Wall Street thriller “Equity,” now in wide release via Sony Pictures Classics, is getting positive reviews from movie critics and more importantly from the women who work in financial services — they report that the struggles they face are accurately depicted in the drama. The movie is a major departure from the testosterone-heavy,… Read More >>
Media Reports Say Misys Owner Mulling IPO
Misys, a 37-year-old banking and capital markets software systems provider, may be entering the public markets again, according to media reports about the matter. In mid-August, The Times of London, citing industry sources, ran with a story that Misys was getting ready to launch a £5.5 billion ($7.3 billion) listing via the London Stock Exchange…. Read More >>
Questions Remain Ahead of SunGard IPO
Investor appetite for FinTech giant SunGard’s recently announced initial public offering (IPO) remains unclear at this point, but solid products and a good position within the market could prove to be bright spots, according to a new report. Recently released by FinTech-focused investment bank FTPartners, “Transaction Profile: SunGard Files for its IPO,” highlights many of… Read More >>
IPO Could Streamline SunGard, Sources Say
Initial reactions among key industry sources about media reports that SunGard will be returning to the public arena are positive, with sources saying that the scrutiny from new investors will streamline the FinTech giant and make it more agile in response to the needs of its customers. The Wall Street Journal reported yesterday that SunGard… Read More >>
SunGard Said to Explore a Second IPO: Reuters
SunGard is apparently making the rounds at investment banks, looking for an adviser to help take the financial technology vendor go public soon, according to a report by the Reuters news service. SunGard could be valued at up to $10 billion and will be interviewing investment bankers as early as next week, according to Reuters,… Read More >>
Is FIX the ‘Stretch-Through Processing’ Standard?
The FIX Trading Community, the keeper of the groundbreaking Financial Information eXchange (FIX) protocol for electronic trading, is widening the reach of the language via a best practices document intended to help firms automate the initial public offering (IPO) process. The FIX group reports that buy-side firms made it known via the FIX Global Buy-Side… Read More >>
