United States (US)
OEMS interest sputters
Combined order and execution management systems once offered great promise, but large buy-side firms increasingly want specialization, leaving OEMS vendors to chase smaller asset managers in a world of EMS consolidation.
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.
Swedish startup offers European cloud alternative for US-skeptic firms
As European firms look for more homegrown cloud and AI offerings, Evroc is hoping to disrupt the US Big Tech providers across the pond.
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.
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.
CAT on life support after appeals court ruling
Ahead of a comprehensive review promised by the SEC, lawyers believe that the recent overturn of the Consolidated Audit Trail’s funding order could herald its demise.
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.
Risk mitigation in round-the-clock trading
Tied closely with shortened settlement times, overnight trading poses operational and technical risks, writes Sergey Samushin, head of exchange solutions at Devexperts, in this guest column.
Generative AI brings testing times for modelers
Flagstar’s lead model validator offers some tips for safely integrating LLMs into risk models.
Is exchange tech ready for 24/7 markets?
Overnight trading is coming to equities markets. Venues and vendors, both new and old, are preparing for it.
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.
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.
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.
Agentic AI comes to Bloomberg Terminal via Anthropic protocol
The data giant’s ubiquitous terminal has been slowly opening up for years, but its latest enhancement represents a forward leap in what CTO Shawn Edwards calls, “the way we should talk to the world.”
Cloud Wars: Are EU and APAC firms really pining for homegrown options?
Waters Wrap: In the wake of tariffs and regional instability, there’s chatter about non-US firms lessening their dependency on the major hyperscalers. Anthony is not buying it.
People Moves: FactSet, DTCC, Broadridge, Amundi, SimCorp and more
A look at the past month’s people moves in the capital markets tech and data space, including the departure of FactSet CEO Phil Snow after 30 years at the firm.
Deutsche Bank casts a cautious eye towards agentic AI
“An AI worker is something that is really buildable,” says innovation and AI head
Cloud offers promise for execs struggling with legacy tech
Tech execs from the buy side and vendor world are still grappling with how to handle legacy technology and where the cloud should step in.
BNY standardizes internal controls around data, AI
The bank has rolled out an internal enterprise AI platform, invested in specialized infrastructure, and strengthened data quality over the last year.