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Free Stuff

Martin Arnold, FT, McKinsey warns banks face wipeout in some financial services, here.

It predicted a smaller, but still significant, chunk of profits and revenues would be lost from payments processing, small and medium-sized enterprise lending, wealth management and mortgages. These would decline between 35 and 10 per cent, McKinsey said.

Philipp Härle, co-author of the report, said: “The most significant impact we see in price erosion, as technology companies allow delivery of financial services at a fraction of the cost, and this will mostly be transferred to the customer in lower prices.”

Philipp Harle, McKinsey, Risk Practice, here.

Philipp coleads our global Risk and Regulation service line within the Risk Practice. He is also a leader in our Financial Services Practice, where he helps direct our work with exchange organizations. Philipp is a lawyer by training and has advised financial institutions and governments around the world on risk, capital markets, and regulatory issues.

Kevin Buehler, McKinsey, Risk Practice, here. Buehler wrote the 2013 review of Bank liquidity for McKinsey.

“Assessing and addressing the implications of new financial regulations for the US banking industry,” McKinsey Working Papers on Risk, March 2011 (PDF–684 KB)

“A better way to measure bank risk,” McKinsey Quarterly, April 2010

“A board perspective on enterprise risk management,” McKinsey Working Papers on Risk, February 2010 (PDF–871 KB)

“Capital ratios and financial distress: Lessons from the crisis,” McKinsey Working Papers on Risk, December 2009 (PDF–340 KB)

“The risk revolution,” McKinsey Working Papers on Risk, September 2008 (PDF–2.65 MB)

“The new arsenal of risk management,” Harvard Business Review, September 2008

“Owning the right risks” Harvard Business Review, September 2008

Andy Patrizio, IT World, Intel’s Xeon roadmap for 2016 leaks, here.

While Grantley and Brickland will carry Intel through 2016 and into 2017, a new platform based on Skylake will replace both will come in 2017, covering both the E5 and E7 lines. As it turns out, the details leaked back in May from an Intel employee in Poland who spoke at an HPC conference.

John Markoff, NYT, Smaller, Faster, Cheaper, Over: The Future of Computer Chips, here. Rehash of Colwell’s Hot Chips talk in 2013

Carver Mead, the physicist who actually coined the term Moore’s Law, agrees. “We’ve basically had a free ride,” he said. “It’s really nuts, but that’s what paid off.”

Indeed, a graying Moore’s Law could be alive and well for at least another decade. And if it is not, humans will just have to get more creative.

Probably that’s the free stuff Jeb! was talking about.

Portia Crowe, BI, High-frequency traders are now dominating another huge market, here.

High-frequency traders have moved in on the US Treasury bond market in a big way.

Risk.net just published a confidential list ranking the top 10 firms by volume traded on BrokerTec, an ICAP-owned trading platform for US Treasurys that is believed to make up 65% to 70% of interdealer market volumes.

The data is for May and June.

The top three firms alone — Jump Trading, Citadel, and Teza Technologies — accounted for about $4.2 trillion in volume, according to the report.

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