Securities Industry News

Disaster planning paid off for Wall Street’s financial networks in the aftermath of the World Trade Center disaster. With redundant systems and quick response procedures, both Radianz and Global Crossing Ltd. got their customers up and running quickly. Radianz has a policy of having at least two different connections to each customer, said CTO Brennan

The courts may have brought Napster to its virtual knees, but other peer-to-peer applications are still alive and kicking-and not just in the music business. Wall Street firms have been getting into peer-to-peer, with applications that let users trade research reports and equities without the benefit of intermediaries. Peer-to-peer, or P2P, systems let the network-as

The rescue effort at ground zero of the World Trade Center disaster has justifiably been the focus of the nation’s attention these past two weeks. But there is another, less visible, but vital recovery effort under way. More than any other industry on the planet, financial services depends on an extensive technological infrastructure, and in

The Code Red worm didn’t do as much harm as expected during its infestation earlier this summer. Although it’s estimated to have cost businesses $1.2 billion in lost productivity, the Internet did not come to a screeching halt and even the White House Web site was able to survive the denial-of-service attack that the worm

Before completing their high-profile merger just after the first of the year, both Chase Manhattan Corp. and J.P. Morgan & Co. responded to the growing possibilities of electronic commerce by creating in-house divisions dedicated to finding, investing in and sometimes spinning off promising technology companies-a combined total of 65 to date. Within Chase’s formidable midtown

The U.S. government may be trying to break up Microsoft’s monopoly through lawsuits, but the real battle over the company’s future is being fought on a different front. It involves a new way of writing software, called Web services, and it promises to make operating systems, the very thing that forms the foundation of the

The World Wide Web didn’t make Windows obsolete and Microsoft won the browser wars-just in time for the next battle, the war over Web services. Web services are a way of moving between applications on the Internet as easily as moving between Web pages today-and there’s already a rival in this space. Sun Microsystems’ Java

The SuperSoes trade execution system, which Nasdaq is attempting to roll out for the third time this week-two prior attempts, last July and in January, failed for technical reasons-combines features of the current Small Order Execution System (Soes) and Selectnet. SuperSoes promises to be faster and more reliable, but it’s a toss-up whether SuperSoes will

Videoconferencing has long been a staple of science fiction, but has taken longer to catch on in the real world than anyone expected. It was too expensive, too complicated and had too few users to make it valuable for all but the most limited applications. Well, times may have finally changed. Ask Jim Mahoney, a

While peer-to-peer systems like Napster are the tech topic of the moment, a close cousin-peer-to-peer distributed computing-has actually shown itself to be more useful. P2P computing has been used recently for everything from looking for signs of intelligent life in outer space to helping find a cure for cancer by distributing the work load between