The Waters Weekly Wrap: December 8-12, 2014
A look at the best articles from the past week
This year's Waters USA conference was held on Monday at the New York Marriott Marquis, so this week's Waters Weekly Wrap will mainly look at the varied topics generated over 18 panels and presentations. You can find every article stemming from the event here.
HFT is a Big F**king Deal
During an entertaining, if profanity-laced, presentation, IEX's chief strategist Ronan Ryan stressed he isn't against all HFT, and noted that the dark pool operator is looking to become an exchange (BST)
One panel, which focused on high-frequency trading, noted that the hype generated by Flash Boys doesn't tell the entire story (SST)
Public Cloud Gains Acceptance
Finra's Steve Randich contends that some public clouds "are more secure than traditional data centers" (BST)
After Broadridge signed on for Amazon's public cloud for certain projects, it also noticed improved talent retention (SST)
King Data, Just Don't Call Him CDO
Morgan Stanley is overhauling its data governance systems and buying a new data quality tool (IRD)
Low-latency data feeds will always be in demand, but increasingly firms want similar performance for performing analytics (IMD)
The "people equation" is also taking form when it comes to implementing data governance strategies (IMD)
On the buy side, the term "chief data officer" has been slow to take hold, and even less discussed is that of a "chief analytics officer" (BST)
From the Horse's Mouth: Beware the Hacker
This year's C-level panel featured senior technologists from Vanguard, Brown Brothers Harriman, Lord Abbett and Nomura. They first discussed the cost of tech... (BST)
...and then they lamented the challenges of cybersecurity (BST)
...while on a panel featuring Blackstone, Sands Capital and Mackay Shields, the topic of cybersecurity was delved into deeper (SST)
Waters Profile: The Swiss-Icelandic-French Connection
Examining the winding technical and organizational journey of Kepler Cheuvreux and its head of electronic execution, Thomas Biotteau (Waters)
Also from the Mag: Focus on Regulation
There's growing desire for KYC checks to be conducted via centralized services, but there's trickiness in having someone external "knowing" on your behalf (Waters)
Two years after the SEC passed Rule 613, the consolidated audit trail, or CAT, is finally coming into focus (Waters)
In February it became mandatory to execute certain swap contracts on electronic platforms; but half a year on, evidence of a revolution in electronic trading is thin (Waters)
Dark pools have come under fire from several regulatory bodies as larger market structure issues will force traders to reexamine how they seek out liquidity (Waters)
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More on Regulation
Finra clears hurdle with CAT launch, but several others remain
Two major components of the consolidated audit trail are now in place. But wrangling over the CAT’s future continues.
Bloomberg, industry bodies push back on Cboe’s proposed OEMS rule change
Some industry bodies disagree with the options exchange’s proposal to carve its Silexx OEMS out of the SEC’s definition of an exchange facility and place it into a separate business line.
GenAI: US Fed reveals its five use cases
Internal sandbox used to assess viability and risks; coding and content generation on the agenda.
Zeros and ones: Industry contemplates T+0 as the next step
With the North American transition to T+1 settlement complete, same-day settlement could be the next goalpost set, though skeptics are many.
The IMD Wrap: Déjà vu as exchange data industry weighs its options
Max highlights some of WatersTechnology’s recent reporting on data costs and capacity issues facing the options industry, and asks, haven’t we seen this before somewhere?
FRTB data quality issues persist amid shifting implementation dates
Banks are finding market and reference data challenges posed by the FRTB’s standardized model tricky, compounded by uncertainty over when the regulation will take effect.
Cboe pushes rule change to make way for proprietary Opra alternatives
As US options data has grown in volume and cost, Cboe says changing the public feed's governing document would make way for more competition from private alternatives, including its Cboe One Options Feed, launched in 2023.
Regulators urged to promote cyber security investment
Public interest in stopping cyber attacks that could trigger bank runs, says Bundesbank researcher