News
Speakerbus goes bust, Broadridge buys Signal, banks mandate cyber training, and more
The Waters Cooler: The Federal Reserve is reserved on GenAI, FloQast partners with Deloitte Australia, UBS invests in Domino Data Lab, and more in this week’s roundup.
Speakerbus ceases operations amid financial turmoil
Sources say customers were recently notified that the trader voice vendor was preparing to file for administration and would no longer be operational.
One in four Fed staff could benefit from GenAI, study finds
New technology could reshape US regulator’s operations—but only with top-down push.
SS&C withdraws SEC application for clearing exemption
The fintech had been granted exemption in 2015 for SSCNet, a global trade network, that allowed it to provide matching and ETC services.
Northern Trust Asset Management enlists network theory to construct alpha signals
The $1.3 trillion asset manager will publish a paper later this year detailing how measuring network effects helps it better understand persistent drivers in trends.
Standard Chartered CDO on AI, CAT on life support, Paxos files for clearing status, and more
The Waters Cooler: FIX updates MMT, a Finnish datacenter hangs in the balance, and partnerships galore in this week’s news roundup.
Paxos files to become SEC-registered clearing agency
The application comes after the blockchain infrastructure company completed a pilot in 2021 to test its settlement service.
Genesis CEO steps down, Wells Fargo deploys agents, DTCC sells Report Hub, and more
The Waters Cooler: MarketAxess has enhanced its dealer-initiated protocols, EquiLend launches a market intelligence tool powered by AI, and the summer heat fuels fury over market data prices in this week’s news roundup.
Euroclear readies upgrade to settlement efficiency platform
Euroclear, Taskize, and Meritsoft are working together to deliver real-time insights and resolution capabilities to users settling with any of Euroclear’s CSDs.
People Moves: Deutsche Bank, BNY Mellon, Broadridge, Fitch, and more
A look at the past month’s people moves in the capital markets tech and data space, including two new CDOs.
TT partners Thoma Bravo, Fitch launches GenAI solution, AI infrastructure woes, and more
The Waters Cooler: EquiLend acquires Trading Apps, Ultumus and BMLL partner for ETF data and analytics, and more in this week’s roundup.
S&P Global details AI partnerships, LLM advancements
The data provider has partnered with Microsoft and Anthropic to use hyperscaler tech to boost its AI offerings.
Quants use AI to shush noisy order-book data
Signals from clusters of seemingly informed trading perform better, researchers say.
CAT funding plan struck down by US appeals court
The 11th Circuit court ruled that the SEC had not established a sufficient precedent to pass the costs of the Consolidated Audit Trail on to broker-dealers.
Cboe to exit Japan equities, S&P/Barclays partner, LSEG mulls 24-hour trading, and more
The Waters Cooler: Regnology acquires Wolters Kluwer’s FRR unit, and storms ahead for the $500 billion Stargate project.
SS&C sets early roadmap after Calastone buy
CEO Bill Stone also said on SS&C’s earnings call that Blue Prism, AI are helping to push growth.
ViaNexus aims to bring data entitlement control to MCP, agentic AI
The startup believes that Anthropic’s Model Context Protocol marks a major step forward for agentic AI, but the market data industry has its own complexities that haven’t been addressed—yet.
IEX automates reporting and billing with DataBP
The exchange has enlisted DataBP to help put structure around its reporting and billing—and potentially how clients subscribe to its data.
Crackdown on FX vendors could raise costs for dealers
MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance.
Academic warns of systemic risk from AI-powered trading
Strategies generated by LLMs exhibit “very strange, correlated trading behavior”, says Lopez Lira.
Waters Rankings 2025: All the winners and why they won
WatersTechnology readers voted to determine the winners in 35 technology and data categories comprising this year’s virtual Waters Rankings.
Anthropic partners with S&P, TT to build AI hub, Talos acquires Coin Metrics, and more
The Waters Cooler: Bloomberg adopts agentic AI, DSB report homes in on fairer data costs, and asset managers are coming for your utilities in this week’s news roundup.
BofA ramps up AI deployment, patents
The bank has 1,400 patents in AI and machine learning, either granted or pending, alongside a growing portfolio of 250 models.
BNY CEO updates on ‘platform’ operating model, AI rollout
In its Q2 earnings call, the bank outlined its progress on rolling out its new operating model and ‘Eliza’ internal AI assistant.