Operations
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
Waters Wrap: On cybersecurity, regulators and ‘victim blaming’
In the wake of the Ion hack, regulators are pushing for firms to beef up their cyber defenses. Anthony says that they'll need to mind their words and tread carefully, as cloud, machine learning and open source take off.
Deutsche Börse seeks seat at tech leader table with SimCorp buy
With exchanges such as Cboe, Nasdaq, LSEG, and ICE leading the pack of exchanges that double as technology companies, the German exchange is playing catch up with its proposed offer for buy-side tech vendor SimCorp.
New chatbots reveal limitations of legacy API development
As large language models that underpin the likes of ChatGPT and Bard come to market, vendors and trading firms are starting to see the benefits—and challenges—that open APIs provide.
Waters Wrap: ChatGPT, data officers, and reaching new frontiers
As banks clamp down on large language models like ChatGPT, Anthony says that CDOs can help firms experiment with these chatbots while developing the proper governance structures.
A rough race begins: Industry faces uphill transition to T+1 settlement
With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue…
Waters Wrap: The DTCC, Cusip and questions of a monopoly
While the companies that oversee Cusips find themselves embroiled in a lawsuit, Anthony questions where the DTCC stands in this unfolding drama.
Privacy-enhancing tech and data pooling—a new way to turn the tide on financial crime
Technological innovations have given some players cause to hope that cross-institutional data sharing could become a reality in spite of concerns around data protection.
Ion cyber outage continues as banks rely on workarounds
ABN Amro, Macquarie, RBC among firms hit; ransom deadline tomorrow, but service may be down for days
Buy-side compliance: Firms seek customizability and automation
This survey sheds light on the types of systems already in place at buy-side firms, the efficacy of those systems and their compliance-related challenges—the most acute being the need to improve automation levels and the desire for system customizability…
AI proves helpful for banks facing new cash penalties for settlement failures
According to one report, banks have been hit with penalties of up to €5 million per month under new CSDR settlement rules. As a result, banks are turning to AI to help.
This Week: Euronext, STG/Alveo, Ice, Mizuho/Bloomberg & more
A summary of the latest financial technology news.
Brown Brothers Harriman unifies busy suite of AI products
It’s a new world, contend BBH’s Kevin Welch and Josh Fine. After a few years of experimentation that yielded several AI products for the bank and its clients, it was time to put the puzzle pieces together to serve a different way of working post-Covid.
Bank-backed Versana takes aim at syndicated loan tech
Born from a consortium that includes JP Morgan and Bank of America, Versana aims to bring up-to-date and permissioned data to the syndicated loan market—the first step to a more transparent and faster operating market.
Blockchain startup Symbiont files for bankruptcy
Clients included American Century, Citi, State Street and Vanguard
Transforming post-trade operations
This special report by Broadridge and WatersTechnology has collated powerful insights and viewpoints from industry and editorial experts on the status of this transformative mission and the challenges still presented.
All the pieces fit: connecting trader voice and messaging across workflows
Cloud9 expands Symphony's communication channels to trader voice, in an effort to simplify workflows as Wall Street struggles with compliant communications.
Waters Wrap: Banks explore new avenues for cloud cooperation
As banks and asset managers move more workloads to the cloud, they’re trying to find ways to cooperate to cut costs and exert more influence over the likes of AWS, Google and Microsoft. Anthony wonders if these early efforts will yield beneficial results…
Symphony wants to be Wall Street’s phone book—but smarter
As Symphony strays further from its original purpose of being a chat platform, WatersTechnology sat down with Brad Levy at this year’s Innovate conference to discuss his vision for the firm.
New tech for corporate actions aims to improve the data extraction process
Demand for corporate actions data is increasing in the front and middle office, but the data can be hard to read.
EU Regulator: Incoming rules will arm financial institutions to negotiate cloud contracts
While the new rules will eat into financial services resources, regulators say they will also offer safeguards for managing cloud agreements.
Mainframes still mainstream: How financial markets are embracing and evolving 'legacy' IT
Tech giant IBM is targeting security, AI, and portability in the modernization of the mainframe as firms report still retaining “the workhorse of the back office.”
Nasdaq gears up for 1st migration in a long journey to AWS
While Nasdaq is set to begin migrating its MRX exchange to AWS’s cloud infrastructure next month, the full migration program could take 10 to 15 years to complete.
New study shows mainframes still popular despite the rise of cloud—though times are changing…fast
A whitepaper from the DTCC and Celent finds that 67% of buy- and sell-side firms hope to be “cloud first” by 2024, but mainframes still part of the equation.