The Horse Race that Is Compliance
![anthony-malakian-waters anthony-malakian-waters](/sites/default/files/styles/landscape_750_463/public/import/IMG/216/142216/anthony-malakian-waters.jpg.webp?h=373a525f&itok=zNeqXFEa)
If you read my weekly editor's letter religiously—and why wouldn't you?—then you know I'm a horseracing enthusiast. You may remember back in May, on the day before the Kentucky Derby, I wrote a rather snarky column about how the rest of 2011 would play out as it relates to financial technology. (If you don't remember, please click here—and shame on you for not remembering.)
Well, today marks the first day of the Breeder's Cup. Since I'm not that original and I've spent far too much time this week doping out the 15 Breeder's Cup races, we'll try this again.
Mifir Delay (1–5): It would be a shocking upset if this regulation—not a directive—didn't get delayed significantly as it makes its way through the individual countries of the European Union. My money is on Estonia causing the largest delay.
Dodd–Frank Falters (15–1): One rule has already been shot down by the District of Columbia Court of Appeals. More will fall, setting off a domino effect that all but whips out all of Dodd–Frank.
MF Repeat (8–1): There will be another MF Global-type collapse before next year's Kentucky Derby. The odds will only go down if we fall into another recession.
Cloud Flash (5–1): There will be another Flash Crash that is set off as the result of hacked information that was sitting in a cloud. This will prompt cloud naysayers to proclaim, "I told you so!"
RIM Out of Biz (2–1): After embarrassing disruptions that cost many fund managers who were unable to receive email for several days, Wall Street revolts and realizes what every teenager in the nation already knows: The Apple iPhone is better than the BlackBerry. (And this is coming from an Android owner.)
Bite of Apple (20–1): Apple's iPad sales decline as a result of the loss of visionary Steve Jobs. This is one longshot everyone is hoping doesn't hit.
Outlaw High-Frequency Trading (30–1): Mifid has opened the door for curbing high-frequency trading. Now politicians in the US will seize on the opportunity to act like experts on the subject ... because no one knows algorithmic trading like a senator from North Dakota.
No Further Exchange Mergers (4–1): Following the failed bids of the London Stock Exchange to nab the Toronto Stock Exchange, and the Singapore Exchange to grab the Australian Securities Exchange, exchanges around the globe get cold feet.
No Form PF (3–1): After hedge funds managing more than $5 billion struggle to meet the Securities and Exchange Comission’s (SEC's) June 15, 2012, deadline, the regulator decides to push the Dec. 15, 2012, deadline for all other firms back into 2013.
Secretary Corzine (100–1): Following the collapse of MF Global, President Barack Obama names former MF Global CEO Jon Corzine as Tim Geithner's replacement as the next Secretary of the Treasury.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
JP Morgan touts DLT, tokens for collateral management
Distributed-ledger technology could make moving non-cash collateral more efficient, said managing director Toks Oyebode during an Isda conference on Thursday.
Waters Wrap: The changing definition and perception of blockchain
Anthony says that questions of definition and perception are killing DLT projects in the capital markets—oh, and a lack of proven implementations.
BlackRock to integrate Aladdin and Preqin to create new private markets platform
CEO Larry Fink calls combining the two platforms “maybe the biggest opportunity in 10 years.”
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
This Week: BlackRock/Preqin, Trading Technologies, FIA Tech and more
A summary of some of the past week’s financial technology news.
Adaptive’s Aeron goes live on Microsoft Azure Marketplace
The messaging software used for building bespoke trading platforms is now available on Microsoft’s marketplace, making it accessible through major cloud providers.
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.
Waters Wrap: CME, Google and the pursuit of ultra-low-latency trading
CME Group and Google have announced Aurora, Illinois, as the location for the exchange’s new co-location facility. Anthony explains why this is more than just the next phase of the two companies’ originally announced project.