Subject: Marketmakers and exchanges clash on tokenized equities; 2025's regulatory thaw; risk managers question Dora specifics

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Data Management Where have four years of Cusip legal drama gone? The IMD Wrap: The antitrust case against Cusip Global Services has been a long, winding road. Reb recaps what you might have missed. 08 Jan 2026   |  Opinion Regulation New EBA taxonomy could help banks track AI risk Extra loss flags will allow banks to track transversal risks like geopolitics and AI, say experts. 13 Jan 2026   |  News Emerging Technologies 2026 will be the year agent armies awaken Waters Wrap: Several AI experts have recently said that the next 12 months will see significant progress for agentic AI. Are capital markets firms ready for this shift from generative AI to agents? 02 Jan 2026   |  Opinion Trading Tech Will overnight trading in equity markets expand next year? It’s complicated. The potential for expanded overnight trading in US equity markets sparked debate this year, whether people liked it or not. 22 Dec 2025   |  Feature Regulation Brokers must shift HFT servers after China colocation ban New exchange guidance drives rush for “proximity colo” in nearby datacenters. 20 Jan 2026   |  News

Regulation Risk managers question US reach of Dora third-party list Some EU subsidiaries included, but regulator control over cloud providers could still be limited. 09 Jan 2026   |  News Regulation Despite regulatory thaw in US, major questions remain globally for 2026 From crypto and tokenization to the CAT to consolidated tapes to T+1’s advancement, the regulatory space will be front and center in the New Year. 29 Dec 2025   |  News Emerging Technologies Citadel Securities, BlackRock, Nasdaq mull tokenized equities’ impact on regulations An SEC panel of broker-dealers, market-makers and crypto specialists debated the ramifications of a future with tokenized equities. 08 Dec 2025   |  News