FAVORITE LINKS
Listed below are some of our favorite links in no particular order. We will continue to add to this list as the months go by, so please check here again. You will find these are, for the most part, associations. While we will be the first to admit that there are many fabulous commercial sites available, we are hesitant to mention any of them here. Since just about every major Institutional Investor in the world has used us to train their personnel we are uncomfortable recommending one over the other. Of course, this policy may change in the coming months.
The Securities Industry And Financial Markets Association
The
Securities Industry and Financial Markets Association(SIFMA) represents
the industry which powers the global economy. Born of the merger between
The Securities Industry Association and The Bond Market Association, SIFMA
is the single powerful voice for strengthening markets and supporting
investors -- the world over.
WSTA (Wall Street Technology Association)
The WSTA is a non-profit, educational forum focused on information management and network technology for the financial community.
IIA's Financial Information Services Division
FISD
provides a balanced and neutral business forum for exchanges, third-party
providers market data vendors, brokerage firms, and banks to address and
resolve issues related to the dissemination, management, administration
and use of financial information. Members use the FISD to exchange ideas,
establish new levels of mutual understanding and improve the business
climate associated with the worldwide flow of financial information.
Financial Services Technology Consortium (FSTC)
The
Financial Services Technology Consortium (FSTC) is a not-for-profit organization
whose goal is to enhance the competitiveness of the United States financial
services industry. Members of the consortium include banks, financial
services providers, research laboratories, universities, technology companies
and government agencies.
FSTC sponsors project-oriented collaborative research and development on interbank technical projects affecting the entire financial services industry. Particular emphasis is placed on payment systems and services, and leveraging new technologies that help banks cement customer relationships, boost operational efficiency, and expand their market reach.
The FIX Organization
The
Financial Information eXchange (FIX) protocol is a messaging standard
developed specifically for the real-time electronic exchange of securities
transactions. FIX is a public-domain specification owned and maintained
by the FIX Organization. Its mission is:
To improve the global trading process by defining, managing and promoting an open protocol for real-time, electronic communication between industry participants, while complementing industry standards.
S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunication)
S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunication) supplies secure messaging, interface software and 24-hour global support to over 6,000 financial institutions in 178 countries.
In 1998, S.W.I.F.T.'s global network carried over 900 million messages. The average daily value of payments messages on the S.W.I.F.T. network is estimated to be above USD 2 trillion. S.W.I.F.T. helps its customers reduce costs, improve automation and manage risk.
Today, in addition to its 3,000 member banks, S.W.I.F.T. users include both sub-members and participants such as brokers, investment managers, securities deposit and clearing organizations and stock exchanges.
Industry Standardization for Institutional Trade Communication (ISITC)
ISITC is a global working committee of securities operations professionals representing custodian banks, investment managers, brokers, and vendors. The group's mission is to foster alliances and advocate standards that promote straight through processing (STP) of securities transactions.
The Banking Industry Technology Secretariat (BITS)
The Banking Industry Technology Secretariat (BITS) was created by The Bankers Roundtable in the fall of 1996 to foster the growth and development of electronic banking in an open environment. Such an environment will encourage greater choices in banking software, access devices and the development of more efficient processing capabilities for the benefit of bank customers. BITS promotes safety and soundness in payments systems and in electronic banking products to provide safe, efficient and low-cost services, with appropriate safeguards.
The Global Association of Risk Professionals
The Global Association of Risk Professionals (GARP) is a not-for-profit, independent organization of financial risk management practitioners and researchers. GARP was founded by a group of risk managers from banks who felt that the financial risk management profession should extend beyond the risk control departments of financial institutions.
The International Swaps and Derivatives Dealer’s Association
The International Swaps and Derivatives Association (ISDA) is the global trade association representing leading participants in the privately negotiated derivatives industry, a business which includes interest rate, currency, commodity and equity swaps, as well as related products such as caps, collars, floors and swaptions. ISDA was chartered in 1985, and today numbers over 450 members from 37 countries on five continents. These members include most of the world's major institutions who deal in, as well as leading end-users of, privately negotiated derivatives.
The Municipal Securities Rulemaking Board
The Municipal Securities Rulemaking Board was established in 1975 by Congress to develop rules regulating securities firms and banks involved in underwriting, trading, and selling municipal securities- bonds and notes issued by states, cities, and counties or their agencies to help finance public projects. The Board, which is composed of members from the municipal securities dealer community and the public, sets standards for all municipal securities dealers. Like the New York Stock Exchange or the National Association of Securities Dealers, Inc., the Board is a self-regulatory organization that is subject to oversight by the Securities and Exchange Commission (SEC).
The National Association of Securities Dealers
The National Association of Securities Dealers is the largest securities-industry self-regulatory organization in the United States. Through its subsidiaries, NASD Regulation, Inc., and The Nasdaq Stock Market, Inc., the NASD develops rules and regulations, conducts regulatory reviews of members' business activities, disciplines violators, and designs, operates, and regulates securities markets and services all for the ultimate benefit and protection of the investor. The NASD has a governing Board with a majority of outside governors, a first in the securities industry. Working with the governing Boards of the NASD and its subsidiaries are various corporate committees, advisory boards and standing committees comprised of volunteers from the securities industry and the public sector. Information on the NASD's activities, history, corporate structure, Boards and Committees and senior management can be found here.
The Depository Trust Company
The Depository Trust Company is the world’s largest securities depository and a critical link in the chain for Institutional settlements. They have many different documents available regarding T+1 and every other issue facing institutional investors.
The National Securities Clearing Corporation
Most transactions affecting institutional investors will
in some way be touched by the National Securities Clearing Corporation.
They handled about $45 trillion in participant transactions in 1998 and
the 1999 number was certainly higher than that. Their website might offer
many insights for visitors to it.
American Financial Services : 500 Chamberlain Hill Rd. : Middletown,
CT 06457-5564
Tel: (860) 347-6568
Fax: (860) 347-6258