Ion Group
The Waters Cooler: AI tells it like it is… or does it?
A weekly round-up of stories from us and beyond. Plus, fun Scottish facts.
This Week: 5-17-2024
A summary of the latest financial technology news.
Waters Wrap: Examining the changing EMS landscape
After LSEG’s decision to sunset Redi, Anthony examines what might lie ahead for the EMS space.
LSEG to sunset Redi EMS in favor of Tora
Sources say competitors will look to seize on the decision to win over Redi’s sizeable US client base.
Waters Wrap: A glimpse of 2024 through the looking glass of 2023
Anthony examines some of the biggest stories from the past year to preview what might be ahead.
Fixed income in 2023: Mergers, modernization, and mysteries, oh my!
Between tech revolutions, secret EMSs and electronified bonds, the fixed-income market saw major advancements over the last 12 months
LiquidityBook buys Messer in effort to beef up portfolio management capabilities
The OEMS provider has purchased the Hong Kong-based PMS provider—but don’t say it’s solely a play for the buy side.
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.
What’s the market for Ion Markets?
With whispers swirling that Ion’s chief executive is looking to cash out on his tech conglomerate, big changes could be coming to the world of fixed-income software.
Citi cyber chief says AI providing new weapons in hacking wars
Barron-DiCamillo also urges regulators to work with industry best practice, not against it
S3 Partners sues Ion’s Fidessa for breach of contract
The New York-based market data company has filed a complaint against Fidessa for failing to honor its agreement to invest up to $6.25 million into the business.
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
SEC cyber rules risk creating web of confusion and costs
The regulator’s proposals would require breach notifications, public disclosures and annual cyber assessments.
Ion wasn’t deemed a ‘critical’ vendor by most clients
The software firm escaped heavy scrutiny ahead of its cyber attack, says a US Treasury official.
Hacked off: banks demand answers after Ion cyber attack
Clients have been left in the dark about the ransomware attack that disrupted futures trading last month.
One-fifth of CME clearing members hit by Ion hack
Advisory committee heard CFTC believed it could “play a more direct role” in cyber security practices
Ion in the fire: three banks call in lawyers after hack
Banks are examining service-level agreements for possible breaches
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.
Ion: after the hack, the clean-up
Some clients are now using Ion systems again, but synchronizing data with CCPs could take days.