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Waters Wrap: CME & Google—the first domino falls

Anthony explores some of the unanswered questions—and potential ripple effects—that come with the new partnership between CME and Google.

Below, I write my initial thoughts stemming from the CME-Google news, but for our subscribers, please know that we’re working on something bigger and more expansive with voices from all across the industry. While we might not always break the news, we do try and provide the best and deepest insights around newsworthy events.

Speaking of which, next week I’ll look at the Trading Technologies acquisition by 7Ridge. It was a busy news week, so I’m having to spread some things out. I hope y’all

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‘Vibe coding is burning us out’

Vibe coding is rapidly spreading throughout the capital markets, and some are unhappy about it, while others believe the genie is out of the bottle. Engineers spoken to for this story share some choice words—and several expletives—about this new form of coding.

The enshittification of AI

The Waters Wrap: AI may look good to its developers, but there are a few problems lurking below the surface that might cause problems. Max Bowie explains.

DTCC dives into public cloud

The clearing house has begun migrating its equities clearing and settlement systems to AWS, while its tokenization systems have migrated to Microsoft Azure ahead of their launch this fall.

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