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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.
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.
Waters Wavelength Ep. 293: Reference Data Drama
Tony and Reb discuss the Financial Data Transparency Act's proposed rules around identifiers and the industry reaction.
Industry not sold on FIGI mandate for US reg reporting
Banks’ and asset managers’ tortured relationship with Cusip numbers remains tortured, as they tell regulators to keep the taxonomy in play.
The Waters Cooler: ‘Tis (almost) the season
Outer-space datacenters, a bumper week for data product announcements … and did I mention that I sing?
Choose your execution: Traders tout benefits of algos for ETFs
In a space dominated by RFQ protocols, trading desks are exploring hybrid strategies for executing ETF orders.
Old dogs and new tricks at Brown Brothers Harriman: Meet Kevin Welch
After two decades of working for the oldest private bank in the US, Welch has mastered keeping his balance—change and stasis, humans and artificial intelligence, work and play.
BNY doubles down on AI investments amid operating model overhaul
The bank’s CEO said he remains convinced of the potential of AI to enhance client offerings and increase the efficiency of employees.
UBS embraces ‘narrative alpha’ with new NLP engine
The tool provides a new form of sentiment strategy that traces how stories spread, instead of counting words.
Banks must loosen up on ChatGPT use – risk chiefs
’Shadow use’ and inability to attract new hires mean restricting access to GPTs is untenable
Footsteps in the dark: Private markets’ data quality “problem”
Data quality in the private markets is poor. But is this a quirk of the market or a problem that needs fixing?
New equity trading protocols want traders to show their hand
A new generation of trading venues has emerged with the goal of unlocking liquidity and improving the efficiency of trades.
Fidelity’s quantum exploration unites theory and proof
The asset manager and Amazon have teamed to put a quantum twist on machine learning.
Interop after acquisitions remains daunting for buyers
Executives from a variety of vendors speaking at WFIC explained why desktop interoperability is important and why progress has been slow.
American Bankers Assoc. asks SEC: Do you know what you’re doing?
The industry group disagrees severely with regulators’ interpretation of the Financial Data Transparency Act, hinting at possible legal action in a recently published comment letter.
The SEC needs a hand with artificial intelligence
The SEC wants to take a tough stance on AI, but it has a talent problem… or a marketing problem. Or both…
Industry seeks to avoid future clashes over data costs
The IMD Wrap: Max wonders when and why buying data became a blood sport.
Let’s grow the third-party risk playbook – CME security chief
The CrowdStrike outage has highlighted the need for the financial sector to adjust its game plan.
Facing platform shutdown, former IEX Cloud head buys its assets in 11th-hour bid
Tim Baker, Pedro Aguayo, and a silent partner have come together to purchase IEX Cloud’s assets days before the exchange was to retire all its products on August 31.
People Moves: Broadridge, ASX, State Street, Northern Trust, and more
A look at the past month’s people moves in the capital markets technology and data space, including Simon Robertshaw, who joins Broadridge as CTO for front-office trading capabilities.
New working group to create open framework for managing rising market data costs
Substantive Research is putting together a working group of market data-consuming firms with the aim of crafting quantitative metrics for market data cost avoidance.