Banks may spend ‘billions’ to stop quantum hacking threat

Quantum-proof algo standards are nearing completion, but enhanced cryptography won’t come cheap.

Banks are cautiously preparing to implement new encryption algorithms that will protect against hackers using quantum computing to crack their code. But experts warn they potentially need to stump up astronomical sums to raise their cyber defenses against the developing threats. If they don’t, then current cryptography could be obsolete within five years, according to some estimates.

Andersen Cheng, who worked on JP Morgan’s response to the ‘millennium bug’ in 2000, says the bank spent $286

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Interop tech buys time for buy-side fixed-income traders

A few buy-side traders and portfolio managers spearheading a drive for greater interoperability are reaping the rewards of increased workplace efficiency. Is interoperability the fixed-income panacea the buy side has been looking for?

GenAI and HFT: A competitive edge?

Timing is critical in the capital markets. IBM researchers say genAI’s predictive abilities in combination with AI/ML models can translate into profitable HFT opportunities.

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