See things clearly
In addressing, “Cyber Security and Global Interdependence”, Dave Clemente of Chatham House discusses the ‘security implications emerging at the intersection of cyberspace and infrastructure’. One of his conclusions is that,
“Meeting these security challenges requires better shared understanding of what is critical between those who protect an organization and those who set its strategic…
Added by Paul Wallis on May 10, 2013 at 4:28 — No Comments
On New Year’s Eve 2012, late afternoon, customers of three of the UK’s largest banks were unable to withdraw cash or use internet banking - some complaining that account balances were incorrectly showing ‘00.00’.
There can’t be many worse times for such a “glitch” to occur, and the (further) damage to those banks’ reputations must have been considerable. The financial cost was also considerable with, for example, Lloyds Bank setting aside £125 million to “compensate…Continue
Added by Paul Wallis on February 14, 2013 at 2:39 — No Comments
During July we attended the Federal Reserve Bank of New York, for the formation and launch of the Financial Stability Board’s (FSB) Legal Entity Identifier (LEI) Private Sector Preparatory Group.
The group was created by the FSB in response to a call from the leaders of the G20 countries to proceed with development of a, “unique identification system for parties to financial transactions.” […Continue
Added by Paul Wallis on January 24, 2013 at 3:35 — No Comments
Over at the FSClub Blog, Chris Skinner summarises a discussion he had with a senior manager in finance about bank operations. He writes,
“...most firms struggle with enterprise management.
It is down to the very nature of fragmented structures, legacy systems, merged and acquired operations, that make the enterprise view hard.
Hard but achievable, so why is it not…
Added by Paul Wallis on September 14, 2012 at 9:24 — No Comments
Three assertions that I hold to be true:
Added by Paul Wallis on July 18, 2012 at 4:00 — No Comments
The citizens of both California and Japan live in the shadow of ‘The Big One’ – earthquakes of catastrophic and devastating power that will inevitably occur, one day.
Before these events, numerous ‘foreshocks’ will take place, smaller earthquakes, associated in time and space with the ‘mainshock’.
Unless things change, the finance sector will one day suffer its own ‘Big One’ – a combination of events that will cause…
Added by Paul Wallis on July 4, 2012 at 4:18 — No Comments
In my last blog about data flow and the development of ‘autonomous vehicles’, I argued that,
“...while the dream of a safer, and more efficient, road transportation system is worthy, it won’t be happening on a large-scale anytime soon...
...computers aren’t yet intelligent enough to reliably make safe, on-time decisions about everyday driving…
Added by Paul Wallis on February 3, 2012 at 4:31 — No Comments
Over at Forbes.com, Dan Woods argues that,
“In every dimension, CIOs are facing an increased pace of change at the same time they are losing control over the computing environment. The number of assets they must manage is exploding. Consumerization, virtualization, cloud computing, software as a service, mobility are all increasing the complexity of the job of managing IT by orders of magnitude.”
In “The Coming Crisis of IT Management”, he…Continue
Added by Paul Wallis on January 20, 2012 at 1:30 — No Comments
Chateau Margaux 1983 is one of the many things I love about France.
My wife lived in France for a while so I’ve picked up her appreciation of the culture, food and language.
The French have a great way with language; they seem to find a way to say in a word that which takes a sentence in English. “Impasse” is one. I hate that word. I get a constant feeling of déjà vu (see what I mean) every time I hear it. It reminds me of a million meetings I was involved in…Continue
Added by Paul Wallis on November 23, 2011 at 7:30 — No Comments
Researchers at Ruhr University, Germany, recently informed Amazon Web Services (AWS) of security holes in the AWS cloud architecture, enabling AWS to fix them before any “customers have been impacted”.
The research team believes similar flaws exist in many other cloud services, potentially enabling, ‘attackers to gain administrative…Continue
Added by Paul Wallis on October 28, 2011 at 10:24 — No Comments
Yesterday, the International Organisation of Securities Commissions (IOSCO), a global finance industry watchdog, published a report on High Frequency Trading (HFT), and other high-tech trading practices.
The report is a response to the financial ‘flash crash’ of 2010 (and numerous subsequent ‘mini flash-crashes’) in which HFT clearly played some…Continue
Added by Paul Wallis on October 21, 2011 at 11:30 — No Comments
Zombies and oil refineries really don’t mix well.
So it was with some alarm that I awoke abruptly last Sunday morning and heard nearby the chuckling voice of my teenage daughter, “Dad....dad....there’s a zombie massacre down at Ineos...can we go and watch?”
My first thought was that my old boss must have let Health & Safety slip a little, and that his job might be at stake. Then I remembered Brad Pitt was in the district, filming “World War Z” close to…Continue
Added by Paul Wallis on August 25, 2011 at 14:20 — No Comments
Doyle Lonnegan, a ruthless New York gangster turned banker, is one of my favourite movie characters.
In ‘The Sting’, which is set in the 1930s, Lonnegan, (the brilliant Robert Shaw), is the victim of a sophisticated confidence trick which costs him the $500,000 he bet on a horse.
A con-artist convinces him he can delay the official results of races getting to…Continue
Added by Paul Wallis on June 21, 2011 at 11:30 — No Comments
Dennis Howlett blogged the other day about “Cloud computing advantages”, promoting the view that cloud is ‘as safe as flying.’
He uses a letter to The Economist written by Prof. Milo Martin to support the point.
Prof Martin compares cloud computing to commercial aviation, and compares car travel to internal IT systems. He argues that,…Continue
Added by Paul Wallis on May 30, 2011 at 13:00 — No Comments
What do you think this is a picture of:
Added by Paul Wallis on November 25, 2010 at 1:20 — No Comments
Added by Paul Wallis on November 12, 2010 at 13:09 — No Comments
Added by Paul Wallis on October 14, 2010 at 14:00 — No Comments
John Higgins is Director General of Intellect, the trade association for the UK IT industry. Recently he wrote about, “IT’s role in avoiding another banking crisis”…Continue
Added by Paul Wallis on September 28, 2010 at 15:00 — No Comments