Opinion
Photonics: time for trading tech to see the light
The Waters Wrap: While the sector is dominated by Big Tech, photonic-based solutions could one day help trading firms take more control over their AI ambitions, Anthony says.
Navigating the MarketAxess ICE storm
The Waters Wrap: Most of the discussion surrounding ICE’s MarketAxess buy has focused more on benefits for the front office than the data possibilities.
Reasoning agents enter the onboarding process for banks
The next phase for banks in the KYC/AML space will be using agentic AI to replace sequential, siloed checks with orchestrator agents, IBM technologists say.
On vibe coding, no/low-code dev, and some potential misconceptions
The Waters Wrap: Is no-code/low-code even a thing anymore? Not really. But the companies that championed those terms just a few years ago tell Anthony they aren’t going anywhere.
Managing regulatory transformation through a Dual-Flow Operating Model
Darshan Shah presents an operating model that enables project teams to implement complex regulatory programs, preserve business continuity, reduce risk, and prepare enterprise platforms for regulatory change.
The complexity of using AI to tackle compliance
The Waters Wrap: Law firms are introducing new tools to help with regulatory compliance, potentially encroaching on regtech vendors’ territory, Wei-Shen writes.
Waters Wavelength Ep. 356: When software fails
This week, Tony and Shen discuss a recent trade surveillance software failure.
Is this tokenization’s golden opportunity?
The Waters Wrap: More initiatives around tokenizing assets are coming to fruition. Nyela asks: Is the market ready?
The danger of prediction markets is precisely how useful they are
The Waters Wrap: Prediction markets may seem like a gamer’s paradise or a honey pot for those looking to corrupt betting. But they have another use in forming institutional prices. At least, that’s what Max Bowie is putting his money on.
The Clarity Act enters the Last Chance Saloon
The US’ landmark crypto bill’s future looks uncertain. Crypto fans may still see the bill pass before fall, but it’s the hope that kills you, Eliot writes.
During the global financial crisis, knowing your data was the edge. With AI, it’s the whole business
SimCorp’s CEO says firms should understand their data and enterprise plumbing in the age of AI.
Are recordkeeping rules ripe for updates?
The Waters Wrap: SEC Rule 17a-4 appeared back on the SEC’s 2026 agenda two weeks ago. Some in the industry are hoping for relief, Reb writes.
Ethereum rebuild casts doubt on banks’ QC prep
The Waters Wrap: Q-Day may be approaching faster than some realize. As Ethereum embarks on a major overhaul, Wei-Shen asks: just how prepared are banks?
Winning M&A depends on a strong data and technology strategy
As M&A activity grows, Fenergo’s Tracy Moore writes on how to prioritize technological readiness and deal pay-off.
The first overnight trading puzzle pieces fall into place
The Waters Wrap: The NSCC moved to 24x5 clearing hours last week. What comes next is worth paying attention to, Nyela writes.
Waters Wavelength Podcast Ep. 355: Faculty’s David Bholat
This week, David Bholat joins the podcast to talk about AI deployment.
Reimagining fraud intelligence across trading systems
Researchers at IBM and Wipro say that trading firms need to transition from static fraud monitoring to adaptive behavioral intelligence embedded directly within the trading lifecycle.
The CAT’s health crisis continues
The Waters Wrap: As the comment period for changes to the Consolidated Audit Trail ends, where does the path lead to now?
Tale of two halves: Agentic AI and the coming capital markets reckoning
Firms that have built robust rails will be better placed to scale agents safely and improve productivity. Those that don’t will learn a hard lesson, says Andrew Morgan.
Where a US antitrust case and a data law meet
The Waters Wrap: Regulators’ choice not to endorse a securities identifier under a new law keeps business as usual for firms required to pay Cusip license fees—but Reb isn’t ruling out a shake-up just yet.
Why generic AI approaches really struggle with investment data
For investment management firms experimenting with LLMs, the results often fall short of expectations. Bharath Reddy of Finbourne says firms should examine the architecture that sits between the model and the data.