Securities and Exchange Commission (SEC)
Waters Wrap: On cloud migrations and VCRs
Financial services firms are increasingly embracing public cloud offerings, but there have been stumbles along the way, including around scalability, throttling, and a lack of true multi-cloud connectedness. These are lessons that must be learned if…
People Moves: Calastone, Securitize, Esma, State Street and more
A look at some of the key people moves from this week, including Ahsan Raza (pictured), who has joined Calastone as chief financial officer.
Murky road ahead for consolidated tape plan administrator in the US
The business unit of the new equities data plan could revolutionize pricing and accessibility in the public feeds of NMS data, say hopefuls to the role, but litigation and lack of clarity obscure the path forward.
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…
Confusion remains over SEC’s market data efforts
Jo ponders some of the important pieces of the regulator’s National Market System modernization that remain obscure.
SEC’s CT Plan timetable is ‘unrealistic’
Implementing governance structure for new US public equities datafeeds within a year is highly unlikely, say industry observers.
People Moves: Exegy, SEC, Clearwater Analytics, KopenTech, Lightspeed, Databricks
A look at some of the key people moves from this week, including Craig Schachter (pictured), who joins Exegy as chief revenue officer
Market data hopefuls await deadline with bated breath
August 9 is when regulators could approve the governance plan for the new system of datafeeds in the US. Jo says this would be an important step forward for those hoping to create new businesses under the regime.
Disinformation campaigns coming to a Wall Street near you
Rebecca examines the tangled web woven between Reddit, meme stocks, and QAnon, and asks how well prepared data providers looking to jump on the meme stocks bandwagon are to recognize organized disinformation campaigns.
Now that Oats is scrapped, regulators will have to (Cat)ch up
Retiring Oats is a milestone on the long and winding road to Cat implementation, but the SEC must make some major decisions in a very short timeframe before the Cat journey is over.
Farewell, Oats: Finra announces retirement date
Finra has told firms to stop reporting trades to the Oats tape from September 1, as the SEC's Cat becomes the definitive audit trail for US securities markets activity.
Oats retirement imminent as Cat maintains data quality, Finra says
Oats reporting could be fully migrated to the Consolidated Audit Trail and the Oats system retired as early as June 30.
This Week: Bloomberg, Ice, DTCC, & More
A summary of some of the past week's financial technology news.
Waters Wrap: Buzzwords and the hype machine (And editorial judgment)
Anthony previews some of the major trend topics that WatersTechnology will look to cover over the next eight months.
SEC overstepping authority in NMS plan, Nasdaq claims in court
Nasdaq's counsel argued that the regulator does not have the power to give more votes to non-exchange organizations in the Sips' operating committees.
People Moves: LSEG; Broadway; Pirum; CFTC/Citadel Securities; SEC/Coinbase
A look at some of the key people moves from this week, including Sabrina Bailey (pictured), who has been appointed by LSEG to lead its wealth solutions business in the US.
Data disruptors face uphill battle to overcome credit ratings stagnation
With traditional ratings agencies facing increased hostility from financial firms, new entrants are hoping to reshape ratings. But will fresh approaches appeal to an industry underwhelmed by existing offerings?
US competing consolidators grapple with pricing uncertainty as SEC, exchanges battle over new Sip regime
Vendors who want to provide consolidated market data under the SEC’s new system can’t make plans until they know how they are going to be charged for market data. But the fee schedules are mired in legal action and confusion.
UK watchdogs run into security fears
Data security and innovation are always going to be in tension. A new plan to improve regulatory reporting might find itself facing worries over security, Jo says.
Waters Wrap: A dangerous game of Cat & hacker (And reg reporting fees)
Anthony takes a look at the Consolidated Audit Trail and concerns over its security. He also touches on the rapidly changing face of the regulatory reporting marketplace.
SEC attorney defends personal information in the Cat
Regulators will need biographical information to get the most out of the Consolidated Audit Trail, advisor said, as broker-dealers and exchanges argue over liability for breaches.
Financial markets and herd mentalities
Support for the little guys (and girls!) of retail investing has been encouraging to witness, but when it comes to GameStop, Wei-Shen wonders what the bigger picture shows.
Back-office automation key to breaking open private markets
Trading in large, privately-held stocks has hitherto been the domain of large private equity investors. A new technology platform aims to make these markets more accessible to broker-dealers by integrating with the back-office processes that firms…
Data providers target data deficiencies in muni bonds market
Companies like Ice are looking at ways to help municipal bond investors gain transparency into a historically opaque market.