Waters - Q4 2023
Articles in this issue
What is Aladdin Trader? BlackRock’s fixed-income tool still a mystery
Sources tell WatersTechnology that Aladdin Trader will expand on the platform’s ‘limited’ execution functionality.
Who is at fault for Goldman Sachs’s $5.5 million fine?
While the CFTC says the bank is to blame for record-keeping failures that transpired at the start of the pandemic, others say it was two vendors who let the bank down.
Has cloud cracked the multicast ‘holy grail’ for exchanges?
An examination of how exchanges—already migrating to the cloud—are working to solve the problem of multicasting in a new environment.
Bloomberg deploys new chatbot tool to Terminal
The offering allows users to surface data and notifications from internal systems without ever having to leave Instant Bloomberg chatrooms.
In ‘unusual’ move, Virtu fights $25m SEC fine for data safeguarding breach
Virtu disputes the regulator’s claim that employees had ‘unfettered’ access to consumer data.
Settlement ‘instructions’: Firms look to US for guidance as Europe braces for T+1
Operations professionals in Europe look across the pond for lessons in managing shorter settlement cycles.
Waters Wrap: On EMSs, regulation, and (among others) BlackRock Aladdin
Regulators in the US and Europe have turned their sights on execution management system providers. Anthony examines some of the questions the industry is trying to answer.
UK pushes financial firms to adopt privacy-enhancing technologies
Lawmakers and vendors are set to usher in an era of mutualized data insights. Are banks ready?
Millennium Management enlists Google for building custom tech solutions
Google Cloud’s capital markets director Rohit Bhat details the cloud giant’s buy-side strategy.
The IMD Wrap: Dining on data, from pay-as-you-go to all-you-can-eat
Max puts on his best Anthony Bourdain voice to reminisce about seminal sushi experiences, and to look forward to the future, where perhaps the industry will also adopt more consumption-based approaches to market data (and hopefully more sushi).
Opra outages cause consternation in options markets
UBS warned clients they were looking at “bad data” on options screens
Waters Wrap: Reading the fixed-income tea leaves
A lot gets made about how much fixed income has been electronified. Anthony says that “percentage” ignores the important technological evolutions and strategic shifts being made by the vendor community.
Quantum computing: a problem for another generation?
Some banks have soured on quantum exploration. Others are playing a game of wait and see.
Waters Wrap: Examining ASX’s CHESS do-over
The Australian exchange was the first exchange to be all-in on DLT—and the project failed. Anthony speaks with ASX’s Tim Whiteley to discuss the lessons learned and why he thinks the second attempt will succeed.
Banks find intriguing ‘data play’ via tokenization efforts
Tokenization is no longer just a peculiarity of the crypto world, as execs from global custodian banks discuss their firms’ tokenization and digital assets strategies.
JP Morgan pulls plug on deep learning model for FX algos
The bank has turned to less complex models that are easier to explain to clients.
AllianceBernstein: fine-tuning shrinks gen AI ‘hallucinations’
Asset manager says its tweaks have improved accuracy of LLM models.
Data catalog competition heats up as spending cools
Data catalogs represent a big step toward a shopping experience in the style of Amazon.com or iTunes for market data management and procurement. Here, we take a look at the key players in this space, old and new.
The causal AI wave could be the next to hit
As LLMs and generative AI grab headlines, another AI subset is gaining ground—and it might solve what generative AI can’t.
New crypto Isins seen as ‘really important’ step for TradFi adoption
Execs at TP Icap and Societe Generale say the identifier removes a major barrier for crypto acceptance.
FactSet lays out AI blueprint for discoverability, workflows, and innovation
The data provider is utilizing generative AI and large language models to provide a conversational interface in FactSet Workstation that will complement AI-powered workflows and products.
The IMD Wrap: Exchange, data vendor audits continue to rankle end-users—what will change in 2024?
While the data auditing process has been contentious for a long time, Max looks at some of the positive improvements made in 2023 and explains why more improvements need to be made in the New Year.
RBC outlines hybrid cloud strategy, eyes genAI use cases
Technological innovation doesn’t always reap promised rewards. RBC’s head of cloud engineering talks about why the Canadian bank’s hybrid cloud strategy worked, and how it is approaching generative AI.
Bloomberg creates one-stop shop for portfolio managers on Terminal
PM <GO> is a new workstation meant to support buy-side decision-making from analysis to implementation.
Industry unsure of SEC’s new short-selling transparency rule
Does the SEC’s recent 10C-1a rule provide sufficient transparency while protecting traders’ short-sale positions from a GameStop-style backlash? The data will be key.
