• inside_market_data
  • inside_reference_data
  • buy_side_technology
  • sell_side_technology
james-rundle
The London office will return on January 2 2013, in SST versus The Giant Lizard-Men.

Thoughts to Finish the Year

  • Send
  • Comment
  • Send to Kindle

Wrapping up and sounding off.

As we head into the Christmas and New Year period, it's become time for us to begin our round-up stories. As a result, it's struck me how much has happened this year, even if it's just under the surface.

Obviously, the regulatory wagon rolls on. In the US, at least, there's been some definitive progress towards restructuring, as over-the-counter derivatives rules are cemented and swap execution facility (SEF) go-live approaches. In Europe, lawmakers and policy chiefs are still dragging their feet of course, causing no end of consternation on the participant side, as my colleagues on Risk and FX Week report. The extraterritorial implications of the Dodd-Frank Act continue to be argued about, with foreign regulators joining in, although the re-election of Barack Obama as US president firms up that this will be happening, despite hot air from challenger Mitt Romney.

Quote start

Acceptance of the status quo seems to be common - people accept that regulation will happen, that budgets will shrink, and that a return to pre-crisis wealth ubiquity may not happen for a long time

Quote end

Otherwise, there have been the usual flash-in-the-pan tech moves. Trading through sentiment analysis, for instance, enjoyed a brief focus of attention before subsuming into the role of being a trading supporter rather than engine. Cloud and Big Data, while still challenges, are becoming settled. Analytics are an area for study next year, as well as the continuing focus of data management, particularly with the Securities and Exchange Commission (SEC) becoming more tech-focused, despite a swathe of departures recently. In the UK, the FSA has said that it's not going to be demanding real-time reporting next year, but it's clear that the mechanical pedigree of the overseers is becoming more in line.

Transaction cost analysis, settlement time horizons, risk management technologies and compliance function tools have all been hot button topics, along with the growing use of field-programmable gate arrays and the ever-present use of outsourcing. Meanwhile, at the institutions themselves, numerous scandals and increasing pressures on both budgets and constraints imposed by measures such as capital adequacy requirements have shrunk headcounts and the amount of cash available for new spend.

Perhaps it's worth thinking about everything that's happened this year, and how it'll be approached in 2013. Acceptance of the status quo seems to be common─people accept that regulation will happen, that budgets will shrink, and that a return to pre-crisis wealth ubiquity may not happen for a long time. Five years on from when the crisis really kicked in, though, perhaps it is time to accept what's happened and begin to move on, uncertain though the future may be.

This will be the final editor's letter for Sell-Side Technology of 2012, as our London office is closed from December 20 through to January 2. Thanks for your support of this magazine during 2012, and we look forward to speaking with you next year. Have a very merry Christmas and a happy New Year, from all of us at SST and Waters.

  • Send
  • Comment
  • Send to Kindle

More from Sell Side Technology

Sign-up for WatersTechnology email newsletters

Register for regular alerts to receive up-to-date news directly into your inbox

Related Articles

Latest Media

Events

Visitor comments Add your comment

  

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions Your comment will be moderated before publication

Submit your comment

Winner's Announced: Sell-Side Technology Awards 2014

View the winners...

The winners of the 2nd annual Sell-Side Technology Awards 2014 were announced in New York on April 15. These awards recognize the leading technologies and third-party vendors in their area of expertise, through an auditable and transparent methodology. To view the winners across the 24 categories click here.

sst-awards-2014

Training

Latest Whitepapers

waters-equinix-whitepaper-may2014

Tackling Teething Troubles: Examining the Current State of the OTC Derivatives Market

The over-the-counter (OTC) derivatives market is in the midst of a global regulatory restructure. Authorities in Europe, Asia and the US are currently...

eagle-whitepaper-jan2014

A data-centric approach to portfolio management

A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....