SEC
Expanded oversight for tech or a rollback? 2025 set to be big for regulators
From GenAI oversight to DORA and the CAT to off-channel communication, the last 12 months set the stage for larger regulatory conversations in 2025.
The Waters Cooler: Big Tech, big fines, big tunes
Amazon stumbles on genAI, Google gets fined more money than ever, and Eliot weighs in on the best James Bond film debate.
The Waters Cooler: Everybody wants data
We’ve got more identifiers drama, additional CTP bidders, a shiny new AI product and … Moo Deng. Gather around the cooler, folks.
Bloomberg, industry bodies push back on Cboe’s proposed OEMS rule change
Some industry bodies disagree with the options exchange’s proposal to carve its Silexx OEMS out of the SEC’s definition of an exchange facility and place it into a separate business line.
Blood, sweat, and tiers: how the SEC’s exchange rebates proposal could reshape US equities markets
The proposal to overhaul volume-based rebates for agency brokers may create significant shifts in liquidity, order routing, and competition. And industry practitioners are split on whether it’s for better or for worse.
Waters Wrap: T+1 and too many proposals
Anthony believes that there’s a growing chasm emerging between regulators, senior business execs, and technologists—which is especially evident when it comes to the T+1 debate.
This Week: Broadridge/TSE, BlackRock, Tradeweb, Finos, and more
A summary of the latest financial technology news.
In ‘unusual’ move, Virtu fights $25m SEC fine for data safeguarding breach
Virtu disputes the regulator’s claim that employees had ‘unfettered’ access to consumer data.
This Week: FIX; DLT report; reporting fines; derivatives tech; startups and more
A summary of the latest financial technology news.
Vendors under new scrutiny in CFTC due diligence push
The planned cyber resilience regime will force dealers to subject “critical” tech vendors to stricter audits.
Amid tightening regulatory pressure, good data governance is key
Financial firms can’t afford to treat data governance as a one-off, check-the-box exercise. Instead, senior data management execs say, it should be treated as an ongoing series of regular health checks.
A rough race begins: Industry faces uphill transition to T+1 settlement
With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue…
Confidential computing won’t save you from data breaches—but it can help
A Google exec and a Stevens Institute director lay out the potential and the pitfalls of this emerging cloud computing technology for data protection.
All the pieces fit: connecting trader voice and messaging across workflows
Cloud9 expands Symphony's communication channels to trader voice, in an effort to simplify workflows as Wall Street struggles with compliant communications.
Will there ever be one TR to rule them all? No chance…
A wave of regulatory reviews is renewing interest in unified data repositories. But Josephine says a centralized utility for trade reporting is never going to happen.
The angry market data manager: Research finds inconsistent pricing across the buy side
Mike Carrodus says his firm, Substantive Research, has found that pricing inconsistencies for the same dataset can vary enormously, with some institutions paying almost five times more than their peer group.
LSEG-MayStreet: From direct feeds revamp to reg tools, industry sources outline rationale for deal
The acquisition of the 10-year-old vendor will give the exchange group high-quality market data, low-latency direct feeds, and packet-capture capabilities, experts say.
Is an EMS an exchange? Vendors alarmed by scope of Reg ATS amendments
Some industry participants are worried that proposed amendments to Regulation ATS could see the trading perimeter expanded to include a wide array of messaging systems.
Spot the difference: Why crypto data can’t be treated like traditional market data
As institutional participation in cryptocurrency markets increases, traditional data vendors and new specialist crypto data providers are taking different approaches to supplying necessary data to financial firms.
People Moves: TP Icap, Nasdaq, CFTC, and more
A look at some of the key "people moves" from this week, including Mark Govoni (pictured), who joins TP Icap as the chief executive officer of its agency execution division.
People Moves: Cboe, State Street, Sifma, Arria NLG, and more
A look at some of the key "people moves" from this week, including Mark Goodey (pictured), who joins Arria NLG as managing director and innovation strategist.