Beware: The Chicago Mercantile Exchange is “improving its technology.” And you know what that means. Read more »

Knight Capital has “all hands on deck” and is in close contact with clients and counterparties as it tries to weather trading errors that cost it $440 million, Chief Executive Officer Thomas Joyce said. Joyce said it’s “hard to comment” on discussions with creditors as Knight stock extended a two-day plunge to 70 percent and the firm explored strategic and financial alternatives following a loss almost four times its annual profit. The problems were triggered by what Joyce called “a bug, but a large bug” in software as the company, one of the largest U.S. market makers, prepared to trade with a New York Stock Exchange program catering to individual investors. “Technology breaks,” Joyce said in an interview on Bloomberg Television’s “Market Makers” program with Erik Schatzker and Stephanie Ruhle today. “It ain’t good. We don’t look forward to it.” [Bloomberg]

  • 01 Dec 2010 at 4:00 PM

Cisco: Emerging Markets Technology Group

In our first posting, we introduced the Four models of Corporate Entrepreneurship. Today, we cover the last of the four models, which we call the Producer. The Producer Model is similar to a “skunk works” organization made famous by Lockheed and a common recommendation in the innovation literature: a separate, well-funded organization to protect innovation projects from turf battles, encourage cross-unit collaboration, build potentially disruptive businesses, and create pathways for executives to pursue careers outside their business units. Unlike the separate organizations of the 1970s and 1980s, however, current implementations are conscious of the difficulties that such separated organizations have traditionally had in bringing proven new businesses back into the mainstream company. Read more »

As a busy member of the financial services industry, where time is money, it’s more than likely that on at least one occasion, you’ve found yourself in a situation wherein you sensed you might have had gonorrhea but didn’t have the hour to spare to get to the free clinic. From there it was a few quick late nights and company happy hours before the entire firm was stricken with an outbreak. In the near future, you’ll be able to avoid such incidents by simply entering a men’s or women’s room, pissing on a computer chip, returning to your desk and inserting it into your phone all in a matter of minutes (stage fright depending). Read more »