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.

Credit: Jean Mignon

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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SEC squares off with broker-dealers over data analytics usage

The Gensler administration has ruffled feathers in the broker-dealer community with a new proposal seeking to limit broker dealers’ use of predictive data analytics. But at the heart of this deal is something far more seismic: one of the first attempts by the SEC to regulate AI.

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