Waters Wrap: On outages, teamwork & greed (And ESG innovation & consultants)

Anthony examines a proposed protocol in Europe that would help keep liquidity flowing if there’s a major exchange outage. He also discusses innovation in the realm of ESG, and Esma’s new data analytics platform.

I have three topics that I’d like to hit on, so let’s just get to it. To read previous Waters Wrap columns, click here.

Consultants

I have to be honest with you, dear reader: I’m not the biggest fan of the largest consulting firms, of which I mean the Accentures, Bains, Boozes, Bostons, Deloittes, EYs, McKinseys, and PWCs of the world. Maybe I’ve been living in Williamsburg, Brooklyn for too long, but it’s all just too corporate for me.

Many of the research reports that come out of these

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‘Feature, not a bug’: Bloomberg makes the case for Figi

Bloomberg created the Figi identifier, but ceded all its rights to the Object Management Group 10 years ago. Here, Bloomberg’s Richard Robinson and Steve Meizanis write to dispel what they believe to be misconceptions about Figi and the FDTA.

Where have all the exchange platform providers gone?

The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this space.

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