RYE, N.Y. - GAMCO Investors Inc. Co. has purchased a hybrid service bureau and in-house portfolio management system from Security APL.
GAMCO hired Security APL to design a portfolio management system using the PORTVUE software that would meet GAMCO's needs.
Some 130 adjustments were made to the PORTVUE system. Operating as a service bureau, most of the PORTVUE system hardware is located at Security APL headquarters in Jersey City, N.J. However, Security APL adapted PORTVUE to meet GAMCO's needs, and GAMCO has many of the benefits of an in-house system.
"We were aware of Security APL as a service bureau, but not as an on-site alternative. Their willingness to extend service bureau support to us, in an environment that is essentially an in-house installation of their software, has enabled us to have the best of both worlds," said Joseph J. Frazzitta, chief financial officer of GAMCO.
GAMCO's old portfolio accounting system was delivered from a mainframe-based service bureau.
For further information, contact Ken Bachulis of Security APL at (617) 261-5300.
NEW YORK - Starquote will provide international market information over its network from Telekurs Ticker Service beginning in the first quarter of 1996.
Starquote, from Star Data Systems Inc., Markham, Ontario, will be able to provide market information from more than 500 international exchanges and contributors, including data from Europe, Mexico, Central and South America and the Far East.
Star Data is a supplier of on-line, real-time financial information systems. Telekurs North America Inc., New York, is a supplier of real-time, end-of-day and closing market pricing information, and corporate announcements, news, fundamental data and other financial information. For further information contact Troy Adcox of Telekurs at (212) 487-2709.
Also, Telekurs North America, has announced a new system of international symbols and codes to identify individual securities trading in Europe, Asia, Latin America, Middle East and Africa markets.
The symbols to be used on Telekurs Ticker Service are the first in the financial industry to identify international securities that are the same across national borders, said Kenneth Marlin, president of Telekurs North America.
Telekurs North America also has launched Global View, which provides access to corporate actions and pricing for more than 300,000 securities.
Global View provides information on securities beginning in 1991 and includes information from more than 500 securities exchanges and contributors from more than 50 countries. The information is Microsoft Windows based and is real-time.
For further information, contact Donna Lamb at (212) 487-2713.
ARLINGTON, Va. - Metropolitan Bank for Savings, Arlington, has selected PARAGON as its investment accounting and management system. PARAGON is a PC/LAN-based accounting system that integrates fixed-income analytics with reporting, accounting and regulatory capabilities for mortgaged-backed securities, collateralized mortgage obligations, derivatives and other fixed-income instruments.
For information, call (617) 345-2721.
SAN DIEGO - George Kenney has joined Nicholas-Applegate Capital Management, San Diego, as chief information officer. Mr. Kenney directed development and application of new investment technologies at Kidder Peabody, the American Stock Exchange and Swiss Bank Corp./O'Connor & Associates, all of New York.
CAMBRIDGE, Mass. - KLD & Co. Inc.'s SOCRATES software program, which provides social research on corporations for institutional investors, now has a query by example function which makes it easier to do queries.
SOCRATES' universe of companies includes the entire S&P 500, 145 companies in the Domini 400 Social Index, and 130 small- and middle-capitalization companies that would be of interest to social investors.
This summer, KLD is rating the S&P MidCap 400 companies on issues of alcohol, tobacco, gambling, weapons contracting and nuclear power, as well as environmental issues. According to Thomas Kuh, a vice president with KLD, the September release of the program will provide coverage on more than 1,100 companies.
KLD recently signed a contract to include in SOCRATES proxy resolution data from the Interfaith Center on Corporate Responsibility. KLD also plans to add ratings and profiles on non-U.S. companies on a country-by-country basis. It is negotiating with a Canadian firm to add data for more than 300 companies on the Toronto Stock Exchange. For further information, call (617) 547-7479.
NEW YORK - The first installation of British Telecommunications MegaLink is expected at Daiwa Securities, New York, in August.
MegaLink provides the digital telephone bandwidth necessary to distribute advanced voice, data and video capabilities to every trader in an organization using BT's trading room telecommunications systems. MegaLink delivers more than two megabits per second all-digital bandwidth to each trader workstation, which is about 15 times the capacity of a single ISDN connection. For more information, call (212) 418-7800.
BERKELEY, Calif. - The Microsoft Windows-based version of BARRA Aegis, equity portfolio risk characterization and optimization software, has been released by BARRA Inc.
Andrew Rudd, chairman and chief executive officer of BARRA, said the Windows version of Aegis sets a new standard for risk analysis in helping money managers and plan sponsors assess risk and return trade-offs. Optimization tools have been significantly upgraded in the new release.
Aegis can assess risk and return trade-offs through interactive, on-screen manipulation of data and graphics, examine portfolio characteristics relative to any benchmark or market, specify multiple screening criteria on BARRA, third-party or user databases to produce well-defined universes, and has many other features. For more information, contact Frank Freitas at (510) 548-5442.