Compliance
Google urges regulators, market participants to clarify risk guidance for AI models
A new whitepaper from Google finds that existing guidance on the use of AI and ML models for risk management is a start, but leaves room for improvement.
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
Hidden danger: As AI permeates finance, cybersecurity moves to the forefront
Open-source wrappers like MLflow, though useful and popular, highlight the risks hidden beneath these models.
Amid tightening regulatory pressure, good data governance is key
Financial firms can’t afford to treat data governance as a one-off, check-the-box exercise. Instead, senior data management execs say, it should be treated as an ongoing series of regular health checks.
SEC cyber rules risk creating web of confusion and costs
The regulator’s proposals would require breach notifications, public disclosures and annual cyber assessments.
New chatbots reveal limitations of legacy API development
As large language models that underpin the likes of ChatGPT and Bard come to market, vendors and trading firms are starting to see the benefits—and challenges—that open APIs provide.
Waters Wrap: ChatGPT, data officers, and reaching new frontiers
As banks clamp down on large language models like ChatGPT, Anthony says that CDOs can help firms experiment with these chatbots while developing the proper governance structures.
A rough race begins: Industry faces uphill transition to T+1 settlement
With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue…
Privacy-enhancing tech and data pooling—a new way to turn the tide on financial crime
Technological innovations have given some players cause to hope that cross-institutional data sharing could become a reality in spite of concerns around data protection.
Inside look: Taking aim at data processing blockages
A startup is looking to automate the bulk of banks’ data processing workflows.
Buy-side compliance: Firms seek customizability and automation
This survey sheds light on the types of systems already in place at buy-side firms, the efficacy of those systems and their compliance-related challenges—the most acute being the need to improve automation levels and the desire for system customizability…
Large language models: Another AI wave has come—what could it bring?
Since the release of ChatGPT, excitement and hype have been abundant across industries for this form of generative AI. For capital markets, the wave of innovation that could result may be a few years away but it’s worth paying attention to—and being…
Waters Wavelength Podcast: SteelEye’s Matt Smith on eComms surveillance
SteelEye CEO Matt Smith talks on the podcast about the regulatory landscape for electronic and voice communications compliance.
Here’s what ML and NLP powered in capital markets in 2022
As machine learning and natural language processing continue to spread across the industry, WatersTechnology highlights stories from 2022 that feature new use cases.
Certified FDC3: Finos reveals interop vendors compliant with open-source standard
Following Finos’ long-awaited release of its new FDC3 compliance testing framework, two of the three major container-based interoperability providers have received badges certifying their adherence to the growing industry standard.
Could cloud kill the data licensing debate and shake up pricing models?
Market participants say cloud has the potential to reimagine data licensing. But moving to the new operational model comes with a raft of unanswered questions.
Regulation of fixed income faces pivotal year ahead
Jo says the SEC’s Treasuries-focused regulatory agenda will come to fruition next year, and tech vendors will face the burden of those proposals.
All the pieces fit: connecting trader voice and messaging across workflows
Cloud9 expands Symphony's communication channels to trader voice, in an effort to simplify workflows as Wall Street struggles with compliant communications.
Fees rise and questions linger as Esma ramps up analytics capabilities
The EU regulator’s expanded supervisory powers and big data capabilities have caused some confusion on how the data will be used and how Esma’s new role will shape reporting regimes.
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.
Reflections on a decade of post trade
After years of neglect, back-office processes are finally getting attention. Wei-Shen wonders how much innovation can truly take place in the back office and how processes will actually improve.
Waters Wrap: Fintech funding—follow the money
As funding for startups and young companies dries up due to inflation and rising interest rates, Anthony looks at some of the vendors that have received monetary infusions this year to see if there are any patterns to be gleaned.
SS&C looks to leverage Blue Prism’s RPA capabilities to improve reconciliations, onboarding
After acquiring Blue Prism earlier this year, SS&C is looking to pair its Chorus business process optimization tool with the RPA specialist.