Re-examining Big Tech’s influence over the capital markets
Waters Wrap: A few years ago, it seemed the big cloud providers were positioning themselves to dominate the capital markets tech scene. And then came ChatGPT.
On May 30, 2022, I wrote an opinion piece with a provocative headline saying the Big Tech cloud providers were coming for your toys. It led with this quote from Bill Lee, who at the time was Interactive Brokers’ senior market data adviser and who had spent decades in the market data industry (he has since retired).
“I tell the exchanges today, the day that Google and Amazon and those big, big [cloud providers] figure out the compliance side of this business … is the day you can kiss the exchanges
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