United States (US)
People Moves: MUFG, CME, Deutsche Börse, Broadridge, and more
A look at the past month’s people moves in the capital markets tech and data space.
MUFG builds internally compliant version of Claude Code
Japanese bank says Anthropic’s coding and productivity tool is effective at obtaining information but bucks compliance guardrails, prompting the creation of an in-house alternative.
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?
UK’s bond consolidated tape goes live
ETS Connect UK has spent the past month ensuring the technology, compliance, and operations are in place.
AI won’t stay in its risk category
For the first time, JP Morgan filed a form 10-K listing AI as a standalone risk factor—a sign of how banks are rethinking previously defined risk categories and their overall risk profile.
Clear Street rolls out new BestEx algo platform
Clear Street has deployed BestEx’s new platform, giving it global execution reach, plus a host of other features built in.
Can Canada follow in the US’s footsteps in overnight trading?
Canadian marketplaces and trading venues are in a race to see who can first authorize overnight equities trading, but not everyone is convinced of its value.
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.
Fidelity Labs: One model to rule them all
Fidelity Labs’ latest AI undertaking involves repurposing baseline AI tooling across the organization.
Blackstone partners with Google, BBH and Citi enhance API connectivity, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
FactSet’s vectorization service aims to improve agent accuracy
FactSet chief AI officer Kate Stepp discusses the importance of having AI-ready data in the agentic era.
TMX to undertake extended trading hours in Canadian equities
Exchange operator looks to keep pace with US markets and potentially undercut Canadian competitors.
Spoiler alert: managing market data is a bad case for AI
The IMD Wrap: A recent conversation between Max and one of his sources highlights the uses of different mechanisms to manage one of their most expensive assets.
Capital markets’ demand for Google’s chips buoys cloud business
Google will begin delivering its TPUs to a select group of clients in their own datacenters later this year.
Stuck in the sandbox: Why bank stablecoin projects struggle to get off the ground
Five years after a wave of banks announced stablecoin ambitions, most projects remain stuck in testing. WatersTechnology spoke to more than 25 experts to find out why an increasingly mature technology has yet to translate into production-grade bank…
Northern Trust details its AI strategy
CEO Michael O’Grady says the firm’s strategy is anchored in hyper-personalization, AI-generated alpha, and infinite scalability.
NYSE files with SEC to join DTC’s tokenization pilot
Proposal mirrors one filed by Nasdaq last fall to allow investors to choose whether a security is cleared and settled in tokenized form.
The race to ‘financialize’ GPU compute set to ratchet up
The Waters Wrap: Anthony looks at two companies aiming to bring efficiency and transparency to the GPU compute market.
Morgan Stanley participating in Anthropic’s Claude Mythos testing
The bank is one of the select few granted access to the hyperscaler’s latest model.
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.
Tata’s ‘self-healing network,’ 24X’s uphill battle, Gresham’s new ‘Opus’ and more
A look at some of the biggest stories and news from the past week.
Tradefeedr pairs with BMLL to expand FX offering into equities, futures
Tradefeedr will also use BMLL’s historical data to help build out an LLM-powered chatbot.
Securities industry nears tipping point for dual messaging standards
Industry groups call for a freeze on ISO 15022 maintenance to accelerate ISO 20022 adoption.