United States (US)
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.
Off-channel messaging (and regulators) still a massive headache for banks
Waters Wrap: Anthony wonders why US regulators are waging a war using fines, while European regulators have chosen a less draconian path.
‘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.
Chevron’s absence leaves questions for elusive AI regulation in US
The US Supreme Court’s decision to overturn the Chevron deference presents unique considerations for potential AI rules.
Reading the bones: Citi, BNY, Morgan Stanley invest in AI, alt data, & private markets
Investment arms at large US banks are taken with emerging technologies such as generative AI, alternative and unstructured data, and private markets as they look to partner with, acquire, and invest in leading startups.
JP Morgan’s goal of STP in loans materializes on Versana’s platform
The accomplishment highlights the budding digitization of private credit, though it’s still a long road ahead.
This Week: ICE Bonds and MarketAxess plan to connect liquidity networks, TS Imagine, Bloomberg, and more
A summary of the latest financial technology news.