Outage
Should banks risk lightning hitting twice for CrowdStrike?
Bank tech teams divided on whether to give security vendor a second chance after update crash.
Waters Wrap: After CrowdStrike crisis, will anyone learn?
Several bank and hedge fund sources tell Anthony that while there’s plenty to be learned from the CrowdStrike bug, some will more than likely forget those lessons in a few weeks’ time.
Lightning strikes: Options boom threatens data overload
Concerns over creaking infrastructure in US options markets are fueling talk of measures to limit the exponential amount of data being generated.
After contentious Opra upgrades, vendors brace for a faster future
Upgrades to the datafeed widely used to gauge the current market price for options contracts went into effect in February after three separate delays, which market participants say were caused by persistent bandwidth issues at some important recipients.
Opra outages cause consternation in options markets
UBS warned clients they were looking at “bad data” on options screens
Vendors under new scrutiny in CFTC due diligence push
The planned cyber resilience regime will force dealers to subject “critical” tech vendors to stricter audits.
Banks call for direct oversight of cloud providers by US regulators
Tri-opoly of cloud vendors “poses systemic risk” to financial sector, say risk managers
Can FIX fix patchy exchange outage communications?
A FIX working group is hoping to standardize the way that venues communicate with the sell side when markets fail.
Waters Wrap: Big Tech’s subtle plans for capital markets domination
Amazon, Google, IBM and Microsoft aren't just cloud providers anymore—and their tentacles are going to spread deep into trading systems going forward.
Hacked off: banks demand answers after Ion cyber attack
Clients have been left in the dark about the ransomware attack that disrupted futures trading last month.
One-fifth of CME clearing members hit by Ion hack
Advisory committee heard CFTC believed it could “play a more direct role” in cyber security practices
Ion in the fire: three banks call in lawyers after hack
Banks are examining service-level agreements for possible breaches
Ion: after the hack, the clean-up
Some clients are now using Ion systems again, but synchronizing data with CCPs could take days.
Ion cyber outage continues as banks rely on workarounds
ABN Amro, Macquarie, RBC among firms hit; ransom deadline tomorrow, but service may be down for days
PFOF regulation and market data: What does the future hold?
As a Congressional report delves into Robinhood's response to the meme stock frenzy of early 2021, Jo wonders how future regulation of payment for order flow will impact market data pricing.
Reg ATS: SEC 'bowing to public pressure' in reopening proposal
The US markets regulator has extended the comment deadline on a proposal to regulate Treasuries venues after it faced a storm of complaints from the public and financial industry.
Waters Wrap: Google’s cap markets play portends a shift in trade tech philosophies
According to Google’s Phil Moyer, the capital markets are shifting from a world where location determined liquidity, to one where accessibility will be the main differentiator for exchanges. Anthony explores what this could mean for trading firms going…
US banks harbor concerns over agencies’ cyber risk rule
The lack of a reporting template means “people can give the least amount of data possible”, warns a bank CISO, stymieing data sharing.
Banks seek greater clarity from regulators on cloud risk
Regulators have been reluctant to specify cloud risks, despite warnings of overreliance on three big providers.
From burst to bust: What happens when cloud runs dry?
After years of initial resistance, the capital markets have come to depend heavily on the compute capacity of the public cloud. But increasing market volumes are rapidly outpacing the cloud capacity that organizations thought would be sufficient for…
Waters Wrap: On outages, teamwork & greed (And ESG innovation & consultants)
Anthony examines a proposed protocol in Europe that would help keep liquidity flowing if there’s a major exchange outage. He also discusses innovation in the realm of ESG, and Esma’s new data analytics platform.