United Kingdom (UK)
BoE model risk rule may drive real-time monitoring of AI
New rule requires banks to rerun performance tests on models that recalibrate dynamically.
HSBC hikes tech spend, scales up AI projects
The bank is hoping to turn higher technology costs to its advantage, investing in its new digital trade platform and increasing its exploration of generative AI.
Institutions see everything to play for in UK’s DLT sandbox
Industry welcomes flexible issuance limits, but rues derivatives’ exclusion as a missed opportunity.
FCA may offer its market data to surveillance tech start-ups
The regulator is concerned that rapid AI adoption will favor incumbent vendors; it aims to launch a sandbox.
Glue42 and Finsemble merge, reshaping interop vendor landscape
The niche interop market previously dominated by Glue42, Finsemble, and OpenFin is evolving—and so are the vendors themselves.
No big boost to UK dark trading after Brexit
Expected explosion in hidden equity liquidity has failed to materialize
French regulator turns up the heat with spot checks on market data providers
The AMF’s move has left industry observers wondering if this will lead other regulators in Europe to follow suit.
Hurry up and wait: EU debates potential models for ‘essential’ consolidated tape
As the legislative debate surrounding a future European consolidated tape for equities takes on increased urgency, market participants and interested parties are beginning to weigh in with their visions of a successful tape.
Market data consumers buy the same products at massively different price points
A new study finds that asset managers are paying several times more than their peers for the same services—but why? And can it be fixed? Does it need to be?
Regulated UK crypto firms fear authorisation Groundhog Day
Industry wants grandfathering in new Treasury framework to avoid business continuity risk
Consolidated tapes gain ground in 2022
Regulators in the US, UK, and EU moved to push forward market data efforts this year.
LSEG bolsters non-cleared ambitions with Acadia deal
The exchange group plans to build ‘a clearing house for the non-cleared world’, says LCH CEO Maguire.
This Week: Versana, Broadridge, Regis-TR and more
A summary of the latest financial technology news.
Anna on track for Isin review deadline
The registrar of the barcode for financial instruments has adapted its systems to reflect the updated standard, ahead of February 2023.
This Week: BlackRock/Tradeweb, FactSet, DTCC, RBC and more
A summary of the latest financial technology news.
Regulated firms warn against crypto market lockout
Onshore participants urge regulators to bring cryptocurrency trading out of the ‘shadows’
Waters Wrap: Where have all the (data) cowboys gone?
Industry veterans says there’s a dearth of market data management talent in the lower ranks. Following Max Bowie’s coverage, Anthony explores some other reasons for this brain drain.
People Moves: UKEF, RBC, Plenitude and more
A look at some of the key people moves from this week, including Samir Parkash (pictured), who becomes UK Export Finance’s interim chief executive officer.
EU Regulator: Incoming rules will arm financial institutions to negotiate cloud contracts
While the new rules will eat into financial services resources, regulators say they will also offer safeguards for managing cloud agreements.
Is disruption finally coming for the index business?
Regulatory developments and startups gaining some ground may—one day—threaten the incumbent providers in this space.
More trading venues face extra supervision under FCA plan
“Woolly” rules fuel concern that bulletin boards and tech providers could be swept in
UK divergence on trading venue perimeter threatens more costs and a complex compliance landscape
The FCA is in the middle of a tug of war over the definition of a trading venue. Will it diverge in a bid to present itself as a competitive market internationally or align with its EU partners?
FDC3 updates interop standard with 2.0 rollout as adoption grows
Finos gets ahead of FDC3’s critical mass by making breaking changes to the desktop interop standard, including baked-in data exchange.
FactSet blends ML, NLP for predictive data analysis
The vendor is drawing on its vast collection of data to develop predictive signals for credit ratings, shareholder activism and more.