The Waters Weekly Wrap: February 20-26
A look back at the best content published across all the Waters brands.

We hope that you've gotten your Sell-Side Technology Awards submissions in, or plan on doing so within the next few hours, because the site will close by the end of day, today, New York-time.
For this week's Waters Wavelength podcast, Dan DeFrancesco and Anthony Malakian discuss the recent dispute between the FBI and Apple over unlocking the phone of one of the San Bernardino shooters; the possibility of a merger between London Stock Exchange Group and Deutsche Börse; and they wrap things up by talking about some of their favorite current television shows, including "Billions", "It's Always Sunny in Philadelphia", "Archer" and "House of Cards".
And here are the top stories from the week that was:
Technology
(Best of Buy-Side Technology & Sell-Side Technology)
Apple vs. the FBI: A Fight That Could Turn Ugly (BST/SST)
Bloomberg Tradebook Adds In-Trade Capability to STAZ (BST/SST)
Blockchain in the Capital Markets: Three Issues That Need Addressing (SST)
Regulations, Data Management Still Problematic, But for Market-Related Reasons (BST)
Eurex Trading Suspended Due to Tech Issues (SST)
Frost Consulting Releases Research Valuation, Budgeting Software Platform (BST)
Data
(Best of Inside Market Data & Inside Reference Data)
MiFID II Delay: Not an Opportunity to Relax (IRD)
FlexTrade Integrates Symphony Chat, Preps Chat-to-TCA Integration (IMD)
Calastone Launches Global Fund Distribution Solution (IRD)
BME Buys Out Infobolsa Partner Deutsche Börse for €8.2M (IMD)
AxiomSL Opens New Office in Poland (IRD)
LSE-Deutsche Börse Merger Deal Would Create ‘World's Largest Index Provider' (IMD)
Opinions
Opening Cross: Eco-system Warriors: It's All About Access (Max Bowie)
Some Thoughts on the Apple-FBI Debate (Anthony Malakian)
Golden Copy: Thoughts About MiFID II Postponement (Michael Shashoua)
What an LSE-Deutsche Börse Merger Means...For Technology (Dan DeFrancesco)
Features
Won't Back Down: SEC CIO Pamela Dyson (Waters)
Risky Alternative: Solving Enterprise Risk for Alternative Investments (Waters)
Fixed-Income Liquidity: An Alternative FIX (Waters)
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More on Emerging Technologies
Etrading wins UK bond tape, R3 debuts new lab, TNS buys Radianz, and more
The Waters Cooler: The Swiss release an LLM, overnight trading strays further from reach, and the private markets frenzy continues in this week’s news roundup.
AI fails for many reasons but succeeds for few
Firms hoping to achieve ROI on their AI efforts must focus on data, partnerships, and scale—but a fundamental roadblock remains.
Waters Wavelength Ep. 330: AI hot takes
It’s Shen and Reb this week talking about AI and the landscape for fintech partnerships.
Is 2027 the new 24-hour trading target?
Slew of technical issues and dearth of SEC staff compound exchanges’ reluctance for round-the-clock equity trading.
Fintech powering LSEG’s AI Alerts dissolves
ModuleQ, a partner and investment of Refinitiv and then LSEG since 2018, was dissolved last week after it ran out of funding.
SNB researchers test LLM-based FX trading strategy
Meta’s Llama 3.1 comes out on top at predicting G10 currency sentiment based on news articles.
CFTC adopts Nasdaq tech, LSE gets Pisces OK, HFT startup gets funding, and more
The Waters Cooler: Tradeweb makes uncleared derivatives history, BNP Paribas nixes outsourced trading desk, and Taco Bell dumps its AI in this week’s news roundup.
Waters Wavelength Ep. 329: LLMs and the dead internet theory
This week, Reb and Tony talk about the internet and the problems compounded by AI.
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