Wavelength Podcast Episode 118: CAT ‘State of the Union’, RTS 27 & 28 Concerns, The ‘Big Tech’ Dilemma

Anthony and James discuss some of the big stories to come out of TradeTech Europe and then three legal experts look at how the SEC has been quiet about the CAT.

Anthony Malakian, US editor of Waters, and James Rundle, news editor of Waters, record a weekly podcast touching on the biggest stories in financial technology.

Anthony calls James from Raleigh, North Carolina, where he’s spending his vacation, to talk about happenings from the past week. Included is a look at both RTS 27 and RTS 28 in Europe, how exchanges are using AI to monitor their markets and how some are worried that so-called Big Tech providers like Google might start taking aim at the financial markets and squeeze out some of the more traditional players in the space. (See ‘The Lineup’ section below for more detail.)

Then, at the end, a special pullout from a recent webinar that provided something of a “State of the Union” for the Consolidated Audit Trail (CAT) rollout in the US. Here are the speakers from the webinar, which was moderated by James:

Tom Sporkin, Partner, Buckley Sandler

Joshua Beaton, CAT Program Manager and Head of US Regulatory Reporting CTB/Executive Director, Morgan Stanley

Nathan Call, Director of RegTech Solutions, Protegent, Global Financial Services, FIS


To hear the full interview, listen in the player above, or you can download it.

The Lineup

2:00 Exchange executives are not happy about requirements stemming from RTS 27.
4:30 RTS 28, on the other hand, has its own set of challenges as the deadline hits Monday.
7:15 Will Big Tech in the US and UK take aim at the financial marketplace similar to what we’ve seen in China?
8:30 In that vein, Microsoft made some big announcements this past week—is it a sign that they’re worried about IBM and Google’s advancement in the public-cloud sector?
12:30 Gemini Exchange is partnering with Nasdaq Smarts for surveillance. James takes a look at how exchanges are using AI to monitor for cheaters.
14:00 James previews what the CAT webinar is all about.
16:45 The webinar pullout begins. The discussion looks at how the US Securities and Exchange Commission has been oddly silent up to this point. Tom Sporkin (Buckley Sandler) spoke first, then Nathan Call (FIS) second, and then Joshua Beaton (Morgan Stanley). To listen to the full webinar, which is about 45 minutes long, click here.


Upcoming Events

Buy-Side Technology European Summit (London)

North American Financial Information Summit (New York)

Toronto Financial Information Summit (Toronto)

Tokyo Financial Information & Technology Summit (Tokyo)


Contact Info

As is the case with everything we do, we'd love to get some feedback from our listeners. Feel free to reach out to Anthony or James via Twitter or email.

Anthony: @a_malakian[email protected]

James: @JimRundle; [email protected]


Past 10 episodes:

Episode 108: Dan Schleifer Talks About the Challenges of Creating a Fintech

Episode 109: An Overview of the CFTC Technology Advisory Committee’s Meeting

Episode 110: An Examination of the Temenos-Fidessa Deal

Episode 111: The Challenges Facing Utilities

Episode 112: A Look at How Fintechs are Being Disruptive

Episode 113: IBM's Lund on Blockchain's Evolution

Episode 114: A Recap of FIA Boca - Blockchain, Crypto, AI, Brexit

Episode 115: The CME Buys NEX Group

Episode 116: The Perils of Bitcoin; SS&C and Ion Move in on Fidessa

Episode 117: Machine Learning, Chatbots & Fintechs

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