Business Information Management
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This paper deals with the time-to-market in the internet economy. Past and current research on the topic, by and large, aims at market entry as the crucial starting point of a new product's implementation and commercial utilization. Time-to-market, however, goes beyond such an isolated discussion and employs a holistic approach. Also the starting point of innovation and the duration of the innovation process are important parts of the time-to-market concept presented here. Moreover, systematic research on timing has so far focused on traditional businesses. The aim of this paper is to look at the internet economy with the focus on timing strategies. After an introduction to the conceptual framework of time-to-market, this paper will discuss strategic implications of internet-based timing. Here it will focus chiefly on the beginning and the end of the innovation process. Chapter four, then, will exhibit the first results of an empirical study about European B2B-marketplaces with special respect to timing strategies. The paper concludes with an outlook on subject timing and some proposals for future research.
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Multi-National and Multi-Entity capable Securities Order Management System for Electronic Brokerages
(2004)
The current bear market has forced electronic brokerages to compensate the transaction-driven fixed cost degression effect of bull markets by cost containment programs, while maintaining their position in the expanded markets. Orderflow consolidation will be the key principle to obtain the critical mass for this business. Options for the consolidation of the order flow can be the consolidation across internal entities / countries of the group and the acquisition of external order volumes e.g. via brokerage franchises. The current system landscape is not designed to support multi-national and multi-entity order flow consolidation. Fragmented, redundant, legacy-based and proprietary securities order management systems have been utilized to ensure market readiness in the former bull market. This article outlines the requirements and architecture for securities order management systems which enable the efficient orderflow consolidation across entities and countries in the brokerage industry.
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This article analyses the impacts on the brokerage business of existing market trends. It is here argued that the current situation shows the potential for insourcing offerings in the order routing.
1
The former bull market has led to developments in the online brokerage industry such as over-capacity, profit-margin pressure, high fixed costs and unprofitable country expansion in the current bear market environment. In order to manage this situation, tactical measures like cost containment programs and closing of international brokerages have been applied. More strategic approaches like order flow consolidation by brokerage franchises, integrated online & branch brokerages and multinational electronic brokerages are valid alternative responses to these developments. This article outlines the Multi-National Electronic Brokerage approach from a strategic, functional, operational and technical perspective.
5
Ziel dieses Artikel ist eine Analyse des FX-Abwicklungsprozesses und die Darstellung generierbarer Outsourcing-Potenziale mit einer abschließenden Herleitung möglicher Sourcing-Strategien. Hierzu werden zunächst Chancen und Risiken des Outsourcings von Abwicklungsdienstleistungen im Bankenbereich detailliert gegenübergestellt. Es folgt eine kurze Betrachtung der aktuellen Situation im Outsourcing-Markt für Finanzdienstleister in Deutschland. Abschließend wird die Umsetzung von Outsourcing-Maßnahmen im FX-Processing diskutiert. Hier erfolgt zunächst eine Analyse des FX-Prozesses anhand von abgegrenzten Transaktions- und Vertragsarten. An die Modellierung des FX-Abwicklungsprozesses schließt sich eine Betrachtung der Rolle von CLS (Continuous Linked Settlement) an. Die Abwägung von Outsourcing-Potenzialen wird unter Einbezug der vorher definierten Chancen und Risiken vorgenommen. Hierauf aufbauend soll die Herleitung von möglichen Strategien für den FX-Bereich den Artikel abschließen. Wesentliche Quellen für den vorliegenden Text sind insbesondere Aufsätze, andere Fachveröffentlichungen sowie aktuelle Studien diverser fachkundiger Unternehmensberatungen. Zusammen mit speziell durchgeführten Fach- und Telefoninterviews des Verfassers mit Experten aus der Praxis gelingt es, einen besonderen Bezug zu aktuellen Entwicklungen und Trends herzustellen.
