Infrastructure
Once a blockchain cheerleader, Axoni changes its playbook
The fintech, whose origins can be traced back to the genesis of capital markets’ complicated flirtation with DLT, has largely ditched the tech as the foundation of its data synchronization offering, opting for more familiar territory.
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.
$135.6m fines prompt Citi to modernize infrastructure, controls
The bank was hit with a combined $135.6 million fine on Wednesday for failing to resolve “longstanding internal controls and risk issues,” amid continued internal work across the enterprise.
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.
Zeros and ones: Industry contemplates T+0 as the next step
With the North American transition to T+1 settlement complete, same-day settlement could be the next goalpost set, though skeptics are many.
The IMD Wrap: Déjà vu as exchange data industry weighs its options
Max highlights some of WatersTechnology’s recent reporting on data costs and capacity issues facing the options industry, and asks, haven’t we seen this before somewhere?
Big questions remain over Dora’s critical third parties
Industry looks for clarity on critical third parties ahead of July 17 regulatory technical standards for the EU’s Digital Operational Resilience Act.
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.
Waters Wrap: Quants, CDOs, and the blending of job titles
Anthony explains how a quant at a massive bank taking on the CDO title hints at larger industry changes.
Capital markets firms wary of cloud overspend
Data architects highlight cost concerns as more and more institutions look to use the cloud for data storage and management.
Waters Wavelength Podcast: Bloomberg’s Tony McManus
Tony McManus, global head of enterprise data division at Bloomberg, joins the podcast to talk about the importance of data in the context of AI and GenAI.
BMO’s cloud migration strategy eases AI adoption
The Canadian bank is embracing a more digital future as its cloud strategy makes gains and it looks to both traditional machine learning and generative AI for further augmentation.
Canada’s triparty repo launch aims to fill C$60bn void
Test trades on TMX/Clearstream platform represent “quantum leap” for creaking funding markets.
Systematic tools gain favor in fixed income
Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.
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.
European firms prime for lopsided settlement in North America and at home
With T+1 imminent in North America and increasingly likely to traverse the Atlantic, operations and trading professionals in Europe are fighting on two fronts.
As crypto ETFs become reality, benchmark providers take center stage
The SEC’s approval of the first spot bitcoin ETFs will expose a growing number of traditional market participants to the maturing world of crypto data, a moment that some—such as CF Benchmarks, BlackRock’s benchmark provider—have been eagerly awaiting.
Settling scores: industry pushes back on new penalties in settlement efficiency drive
Esma is asking for feedback on proposals that could see penalties for settlement fails increase by 25 times. But affected parties say adapting to the new system would be a technical upheaval and are calling for more structural reform.
JP Morgan DLT exec: Settlement rails needed for digital bonds to gain traction
At an Afme conference, Scott Lucas, head of markets DLT for JP Morgan, noted DLT’s progress in the bond space. Others said the tech has a long way to go before wider adoption.
As T+1 looms, non-US firms consider out-of-hours trading
Pruned settlement cycle forces foreign buy-siders to explore automating the FX leg of securities trades.
CME moves core data to the cloud, readies new data products, analytics
The exchange group has migrated its core data to the cloud as part of its 10-year partnership with Google Cloud, and is now looking ahead to further migrations and leveraging the cloud to power new data products.
Run the bank, change the bank: CTOs juggle needs and wants
Voice of the CTO: In part two of a five-part series, bank technologists explain where firms go wrong when trying to modernize their tech stacks and manage technical debt.
Domain-specific AI: the hot topic of 2024?
Generative AI is increasingly being applied to specific domains within finance. But experts are divided on whether targeted models will take over from their general-purpose cousins.
Hunting for reliable low latency, HFTs look to novel techs in 2023
WatersTechnology looks at advancements in market data latency technology and what role the cloud can play.