The Waters Weekly Wrap: December 8-12, 2014
A look at the best articles from the past week
This year's Waters USA conference was held on Monday at the New York Marriott Marquis, so this week's Waters Weekly Wrap will mainly look at the varied topics generated over 18 panels and presentations. You can find every article stemming from the event here.
HFT is a Big F**king Deal
During an entertaining, if profanity-laced, presentation, IEX's chief strategist Ronan Ryan stressed he isn't against all HFT, and noted that the dark pool operator is looking to become an exchange (BST)
One panel, which focused on high-frequency trading, noted that the hype generated by Flash Boys doesn't tell the entire story (SST)
Public Cloud Gains Acceptance
Finra's Steve Randich contends that some public clouds "are more secure than traditional data centers" (BST)
After Broadridge signed on for Amazon's public cloud for certain projects, it also noticed improved talent retention (SST)
King Data, Just Don't Call Him CDO
Morgan Stanley is overhauling its data governance systems and buying a new data quality tool (IRD)
Low-latency data feeds will always be in demand, but increasingly firms want similar performance for performing analytics (IMD)
The "people equation" is also taking form when it comes to implementing data governance strategies (IMD)
On the buy side, the term "chief data officer" has been slow to take hold, and even less discussed is that of a "chief analytics officer" (BST)
From the Horse's Mouth: Beware the Hacker
This year's C-level panel featured senior technologists from Vanguard, Brown Brothers Harriman, Lord Abbett and Nomura. They first discussed the cost of tech... (BST)
...and then they lamented the challenges of cybersecurity (BST)
...while on a panel featuring Blackstone, Sands Capital and Mackay Shields, the topic of cybersecurity was delved into deeper (SST)
Waters Profile: The Swiss-Icelandic-French Connection
Examining the winding technical and organizational journey of Kepler Cheuvreux and its head of electronic execution, Thomas Biotteau (Waters)
Also from the Mag: Focus on Regulation
There's growing desire for KYC checks to be conducted via centralized services, but there's trickiness in having someone external "knowing" on your behalf (Waters)
Two years after the SEC passed Rule 613, the consolidated audit trail, or CAT, is finally coming into focus (Waters)
In February it became mandatory to execute certain swap contracts on electronic platforms; but half a year on, evidence of a revolution in electronic trading is thin (Waters)
Dark pools have come under fire from several regulatory bodies as larger market structure issues will force traders to reexamine how they seek out liquidity (Waters)
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More on Regulation
Goldman exec: Dec. 6 a ‘lighthouse’ for EU T+1 readiness
Officials from JP Morgan, the European Central Bank, the National Securities Depository, and Goldman Sachs explained how T+1 preparation needs to be different in the EU than in the US, while speaking at Sibos.
Federal court moves to certify class in Cusip antitrust suit
The SDNY judge has handed a procedural win to plaintiffs, allowing swaths of end-user firms and third-party data vendors to join the class action.
Report once: will Esma’s €1bn reforms deliver the full picture?
Critics say plan to merge three reporting regimes will see scant returns, and won’t mesh with single-sided reporting.
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.
SEC gunning to take over CAT in 2027
Chairman Atkins has plans for the SEC to run the Consolidated Audit Trail directly. Industry participants are split on the idea.
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.
SEC denies 24X’s requested SIP exemption, for now
Start-up exchange cannot begin its overnight market session before the equity data plans’ hours are scheduled to be extended on December 6. But that’s only half of it.