Waters Wrap: Big Tech’s subtle plans for capital markets domination
Amazon, Google, IBM and Microsoft aren't just cloud providers anymore—and their tentacles are going to spread deep into trading systems going forward.
A little more than a year ago, I wrote a Waters Wrap with the headline, “The Big Tech cloud providers are coming for your toys”. The premise of the column was that the likes of Amazon, Microsoft, Google and IBM had become the most important infrastructure providers to capital markets firms, and it was only a matter of time until they took aim at other parts of the trading lifecycle.
A decade ago, banks and asset management executives balked at the idea of moving precious client data to the
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