The Waters Weekly Wrap: December 8-12, 2014
A look at the best articles from the past week
This year's Waters USA conference was held on Monday at the New York Marriott Marquis, so this week's Waters Weekly Wrap will mainly look at the varied topics generated over 18 panels and presentations. You can find every article stemming from the event here.
HFT is a Big F**king Deal
During an entertaining, if profanity-laced, presentation, IEX's chief strategist Ronan Ryan stressed he isn't against all HFT, and noted that the dark pool operator is looking to become an exchange (BST)
One panel, which focused on high-frequency trading, noted that the hype generated by Flash Boys doesn't tell the entire story (SST)
Public Cloud Gains Acceptance
Finra's Steve Randich contends that some public clouds "are more secure than traditional data centers" (BST)
After Broadridge signed on for Amazon's public cloud for certain projects, it also noticed improved talent retention (SST)
King Data, Just Don't Call Him CDO
Morgan Stanley is overhauling its data governance systems and buying a new data quality tool (IRD)
Low-latency data feeds will always be in demand, but increasingly firms want similar performance for performing analytics (IMD)
The "people equation" is also taking form when it comes to implementing data governance strategies (IMD)
On the buy side, the term "chief data officer" has been slow to take hold, and even less discussed is that of a "chief analytics officer" (BST)
From the Horse's Mouth: Beware the Hacker
This year's C-level panel featured senior technologists from Vanguard, Brown Brothers Harriman, Lord Abbett and Nomura. They first discussed the cost of tech... (BST)
...and then they lamented the challenges of cybersecurity (BST)
...while on a panel featuring Blackstone, Sands Capital and Mackay Shields, the topic of cybersecurity was delved into deeper (SST)
Waters Profile: The Swiss-Icelandic-French Connection
Examining the winding technical and organizational journey of Kepler Cheuvreux and its head of electronic execution, Thomas Biotteau (Waters)
Also from the Mag: Focus on Regulation
There's growing desire for KYC checks to be conducted via centralized services, but there's trickiness in having someone external "knowing" on your behalf (Waters)
Two years after the SEC passed Rule 613, the consolidated audit trail, or CAT, is finally coming into focus (Waters)
In February it became mandatory to execute certain swap contracts on electronic platforms; but half a year on, evidence of a revolution in electronic trading is thin (Waters)
Dark pools have come under fire from several regulatory bodies as larger market structure issues will force traders to reexamine how they seek out liquidity (Waters)
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More on Regulation
Will SEC reporting proposal supercharge alt data providers?
An SEC proposal that would let companies opt out of quarterly reporting disclosures could be a boon for alternative data providers.
Paxos wins temporary approval for blockchain clearing push
Blockchain infrastructure company will have a period of 18 months to “ramp up” readiness for operations, per the SEC’s approval letter.
Is a 2027 T+1 move too soon for Hong Kong?
The Waters Wrap: Wei-Shen examines HKEx’s discussion paper on moving to T+1 in Q4 2027. A move so soon has its benefits but still requires careful consideration, she says.
EU AI Act leaves agents in regulatory limbo
A new paper published by AI ethicists draws attention to a hole in the EU AI Act surrounding high-risk agentic systems.
AI governance rules coming soon, says CFTC chair
Selig doesn’t want to stifle innovation, but says trading or advice algos will need guardrails.
Hitting the Great Wall: Details scarce on China’s Xinchuang initiative
In a quest to learn more about China’s Xinchuang initiative, Wei-Shen finds trying to get information feels like running into a wall over and over again.
24X says requested SIP exemption won’t break the market
In a new letter to the SEC, the startup exchange says data infrastructure that operates like the SIP is available as it looks to launch overnight trading this summer.
How banks are utilizing new AI forms in their KYC process
Execs from JP Morgan, ING, and Standard Chartered explain how they are looking to use agentic AI to streamline KYC workflows.