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© The Z/Yen Group of Companies 2008
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Volume Four, Number Thirty Five
"Zest for Enlightenment"
The Irregular Newsletter of Z/Yen
Limited
March 2006
Raising Interest
Z/Yen’s
range of Operational Performance studies on the services provided by investment
banks have generated wide interest this past year with client presentations in
Hong Kong, New York and London and numerous press articles. Additionally, the
results have been presented to a number of industry-wide
forums including the
Asia Broker Forum, the Scottish Operations Forum and the
London Client Forum. Z/Yen’s first 2006 Operational Performance Survey covering
Foreign Exchange, commences in March with Listed Derivatives following in April.
Z/Yen are also collaborating with MA Partners to produce an overall global
report.
Comply with Compliance
"Best
Execution Compliance Automation” is hardly the most exciting project title, but
Z/Yen have completed an enormous, exciting project with Sun Microsystems and the
London Stock Exchange to test the feasibility of identifying share anomalies
using
PropheZy in order to help
financial firms comply with the best execution requirements in the European
Union’s Market in Financial Instruments Directive (MiFID – pronounced like
TRiFFID, hmm). The project, BECA as we call it, built a prototype compliance
workstation that has been a huge success with four brokers - “The prototype
workstation, with all the information about each trade and the drill- down
functionality is just the sort of tool we would use”. The work involved sifting
190,000 trades worth around Ł54 billion and asking PropheZy to say which ones
looked odd (could have told ya about the team before you started – ed). BECA
will feature in two June articles for the Journal of Risk Finance, is on display
at Sun Live and has already been trailed in Banking Technology.
Other applications for PropheZy grow almost
daily. PropheZy has recently been tested on the prediction of inbound call
volumes to a call centre, the identification of trademarks that are likely to be
refused registration and the identification of counterparties to equity trades.
Much to the frustration of after-hours staff, it still fails to predict the
lottery...
Odd Jobs
Z/Yen’s expert resourcing division
SpecialiZm continues to provide our clients with experts for special
projects. We recently provided an expert in economic capital and Basel II to
assist an organisation with a project on compliance with European regulation.
Similarly, an expert in technical architecture and the implementation of large
scale, high-availability and highly-scalable secure systems was deployed to
advise on the development and testing of a new IT application. A third recent
assignment was the
provision of an expert in the design, implementation, and evaluation of
financial control systems to a trading company to help evaluate the use of key
performance indicators. If you have any requirement for expertise, however ‘out
of the ordinary’, give Mark Yeandle a call – even if you don’t have an Equity
card.
Social Engagements
First
and foremost, our congratulations go to Francesca on her engagement. In other
Society Page news, we hear rumours of Linda’s plans for a move from “The Sty”
(not quite “The Shire” in Lord of the Rings) to “Paradise”. Naturally, our
friends at
CityAxis are handling the
project. Apparently Paradise is a few thousand square feet on the other side of
the wall. Paradise has clean desks and open spaces, massage chairs at each plush
workstation with quad plasma screens, a ‘silver service’ lunchroom, the
waterfalls (yes!) flow with milk and honey and the aquarium has to be seen to be
believed ... Well, we hear the pounding anyway and may have a welcoming cocktail
party in a few months. Finally, Michael (Prof) Mainelli’s first year of Gresham
lectures draw to a close with number six – “How
Can You Have Too Much Choice?” on Monday, 15 May 2006, 18:00,
Barnard’s Inn Hall – followed by a Z/Yen drinks reception. Attendance is free,
don’t miss it, choose to come.
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