Waters
A tidal wave of token costs threatens landfall
Budgeting for AI was never “easy,” but as financial firms rely more heavily on agents, soaring token usage is forcing them to rethink the economics of modern enterprise AI.
Can pairing autonomous AI agents with digital cash transform finance?
A new Moody’s paper highlights opportunities and risks associated with AI agents and digital cash.
Is this tokenization’s golden opportunity?
The Waters Wrap: More initiatives around tokenizing assets are coming to fruition. Nyela asks: Is the market ready?
People Moves: Capital Bank, BMLL, Cboe Europe, Options Technology, and more
A look at the past month’s people moves in the capital markets tech and data space.
Cyber audit leaves Eiopa with a credibility problem
The Dora supervisor charged with overseeing critical tech vendors has been critiqued for IT security failings.
Waters Rankings 2026: Best cloud-based application provider—Derivative Path
Derivative Path wins best cloud-based application provider in the 2026 Waters Rankings for its Derivative Path platform.
EuroCTP wins again, Fanatics teams up with BGC, Clarity Act’s uncertain future, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
ICE buys MarketAxess to create ‘common rails’ for fixed income
The deal, which is expected to close early next year, will further establish ICE in the fixed-income market.
LSEG caps free prompts as it moves to increase AI revenues
New AI tools were the main focus of the exchange group’s mid-year progress update.
EDMA begins rollout of AI certification framework
The EDM Association is expanding its CDMC framework to include analytics and AI.
Waters Rankings 2026: Best cloud-based technology provider—SS&C Advent
SS&C Advent wins best cloud-based technology provider in the 2026 Waters Rankings for its SS&C Cloud Solutions: Genesis and Eclipse.
Bloomberg acquires Canoe Intelligence, expanding private markets prowess
In a rare acquisition, the data giant is looking to add to its established private markets intelligence and add more functionality for client workflows.
The danger of prediction markets is precisely how useful they are
The Waters Wrap: Prediction markets may seem like a gamer’s paradise or a honey pot for those looking to corrupt betting. But they have another use in forming institutional prices. At least, that’s what Max Bowie is putting his money on.
The Clarity Act enters the Last Chance Saloon
The US’ landmark crypto bill’s future looks uncertain. Crypto fans may still see the bill pass before fall, but it’s the hope that kills you, Eliot writes.
LSEG plans new venue launch, Talos integrates with Kalshi, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
Waters Rankings 2026: Best network provider—Iress Trading and Market Data
Iress Trading and Market Data wins best network provider in the 2026 Waters Rankings for its Iress FIX Hub (IFH) platform.
IBM’s ‘multi-billion-dollar opportunity’ securing open-source software
In its first three weeks, Lightwell has made 7,500 open-source patches available to clients.
During the global financial crisis, knowing your data was the edge. With AI, it’s the whole business
SimCorp’s CEO says firms should understand their data and enterprise plumbing in the age of AI.
UK asset manager fixes data then brings in AI
Now that Omba Advisory & Investments has consolidated its data, it can leverage new AI tools.
Red alert: how Nasdaq’s Smarts became surveillance blind spot
Software that looks for shifty trades has been asleep on the job, affecting alerts for hundreds of products.
Are recordkeeping rules ripe for updates?
The Waters Wrap: SEC Rule 17a-4 appeared back on the SEC’s 2026 agenda two weeks ago. Some in the industry are hoping for relief, Reb writes.
Waters Rankings 2026: Best performance measurement and attribution system provider—FactSet
FactSet wins best performance measurement and attribution system provider in the 2026 Waters Rankings for its FactSet Performance Solutions (FPS).
Waters Rankings 2026: Best artificial intelligence (AI) technology provider—S&P Global Market Intelligence
S&P Global Market Intelligence wins best artificial intelligence (AI) technology provider in the 2026 Waters Rankings for its S&P Capital IQ Pro product.
Waters Rankings 2026: Best outsourcing service provider—Northern Trust
Northern Trust wins best outsourcing service provider in the 2026 Waters Rankings for its Integrated Trading Solutions (ITS) and Foreign Exchange (FX) services.