Regulation
US banks harbor concerns over agencies’ cyber risk rule
The lack of a reporting template means “people can give the least amount of data possible”, warns a bank CISO, stymieing data sharing.
Waters Wrap: An EU consolidated tape—a story of market data costs & reality
After the European Commission released its proposal for an EU consolidated tape last week, Anthony explores some of the unanswered questions that still linger and what the greatest roadblocks appear to be.
Regulators turn gaze on ESG rating providers—for better or worse
Governments around the world are looking to clamp down on providers of ESG ratings and data products. Jo wonders what the implications could be for a still nascent market.
Nasdaq rolls out new fixed-income trade surveillance alerts
The vendor is introducing additional alerts for trade surveillance to help tailor its solution for OTC fixed income.
Top venues mull offering joint EU consolidated tape for bonds
Market participants worry a venue-led CT could be of low quality, with CT data used to create expensive additional products.
Patchy data thwarts consolidated tape hopefuls in Europe
Vendors grapple with unstandardized data reporting and data gaps in their push to develop a consolidated tape, as the EU prepares to unveil its latest legislative plans.
Fee filings cloud hopes for cheaper NMS data
Aspirant ‘competing consolidators’ were hoping for a lot more leeway than they got in an important fee filing, Jo says. By Jo Wright
EC ends S&P’s 53-year era as Cusip’s "cash-cow" operator
Sources ID Ice and DTCC as suitors, but new owners may not bring relief to users paying millions.
Banks seek greater clarity from regulators on cloud risk
Regulators have been reluctant to specify cloud risks, despite warnings of overreliance on three big providers.
Google aims AI at corporate actions challenges
The tech giant believes its AI tools have a multitude of applications across some of the complex data challenges of financial markets, and it’s starting with the manual and complicated world of corporate actions. Some believe it will be an uphill battle.
Murky road ahead for consolidated tape plan administrator in the US
The business unit of the new equities data plan could revolutionize pricing and accessibility in the public feeds of NMS data, say hopefuls to the role, but litigation and lack of clarity obscure the path forward.
Definition of a trading venue: Reg review risks ensnarling tech vendors
Industry participants are divided over the definition of a trading venue and how regulators should revise the regulatory framework.
This Week: Bloomberg, VoxSmart–GreenKey, EDM Council, Northern Trust, Anna-DSB, and more
A summary of some of the past week’s financial technology news.
Phase five margin queues spur calls for custody revamp
Custodians are being urged to update “antiquated technology” ahead of a three-fold jump in phase six initial margin onboarding.
Waters Wrap: The expanding battle over reference data identifiers
Bloomberg, Broadridge, and Finra have all recently made news in the world of standards and identifiers. Anthony looks at some of the questions the reporters at WatersTechnology will be asking going forward.
Bank consortium led by SocGen seeks to cure post-trade data ills
Project led by Societe Generale that uses privacy-enhancing technologies to solve data management issues hopes to sign up five banks and launch as a legal entity.
Waters Wrap: Cloud, AI, Interop: The evolutions driving fixed-income progress
Anthony believes these advancements will provide the opening for Big Tech firms to created outsized influence that will change financial technology forever.
IM phases five and six collide as buy side delays readiness
More than 1,000 segregated accounts for uncleared margin may still need to be opened post-deadline.
Confusion remains over SEC’s market data efforts
Jo ponders some of the important pieces of the regulator’s National Market System modernization that remain obscure.
SEC’s CT Plan timetable is ‘unrealistic’
Implementing governance structure for new US public equities datafeeds within a year is highly unlikely, say industry observers.
UnaVista SFTR closure casts doubt on viability of reg reporting
The decision to shutter the service is another blow to the industry and the business case of reg reporting under SFTR.
Market data hopefuls await deadline with bated breath
August 9 is when regulators could approve the governance plan for the new system of datafeeds in the US. Jo says this would be an important step forward for those hoping to create new businesses under the regime.
Capitolis to acquire LMRKTS
Deal for multilateral compression provider latest in wave of post-trade tie-ups, as SA-CCR bites