Waters Wrap: Google’s cap markets play portends a shift in trade tech philosophies

According to Google’s Phil Moyer, the capital markets are shifting from a world where location determined liquidity, to one where accessibility will be the main differentiator for exchanges. Anthony explores what this could mean for trading firms going forward.

For the very first “Waters Wrap”—which was published on July 12, 2020—I wrote about how companies like HPR, Trading Technologies, and various other lowercase-t trading technology providers were undergoing ambitious projects to move their legacy platforms to the cloud. Three weeks later, I wrote about how some of the largest exchanges were partnering with the Big Tech cloud providers for increasingly more complex functions.

If I’m doing my job well, the whole point of the “Waters Wrap” column is

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