Infrastructure
Americans voted against datacenters. Datacenters may still win.
The Waters Wrap: The US midterms could spell trouble for datacenters but only if Dems put the screws to Big Tech, too, Reb writes.
When trading systems disagree: a deterministic architecture for event sequencing
Modern trading platforms execute millions of events at extraordinary speed, but speed alone does not ensure that every downstream system shares the same view of reality, says Gaurav Tiwari.
How long will AI tokenomics matter?
The Waters Wrap: Banks and asset managers are rethinking the economics of AI. Wei-Shen examines how firms will manage token costs.
Month-long power glitch hits key APAC trade surveillance tool
Nasdaq’s alert functions were restored, but users say testing and calibration tools were still disrupted.
Trading firms rethink infrastructure proximity as Asia’s FX markets grow
Firms that treat local infrastructure as core to how they serve clients in Asia stand to benefit from Singapore’s growing role as an FX hub, writes Judy Goh.
GPU compute derivatives are put to the test
Interest rates and onions of the past haunt what could be a booming new index market.
The GPU compute index race begins
Major exchanges are partnering with a new crop of benchmark providers to create a tradable asset class around GPU compute.
Manuela Veloso on how banks can make their AI dreams reality
Former JP Morgan head of AI research says open-ended enquiry will unlock technology’s full potential.
Photonics: time for trading tech to see the light
The Waters Wrap: While the sector is dominated by Big Tech, photonic-based solutions could one day help trading firms take more control over their AI ambitions, Anthony says.
On vibe coding, no/low-code dev, and some potential misconceptions
The Waters Wrap: Is no-code/low-code even a thing anymore? Not really. But the companies that championed those terms just a few years ago tell Anthony they aren’t going anywhere.
Rapid-fire repo raises hopes of cheaper, faster trading
Tokenized Treasuries piloted by DTCC could squash settlement cycles and enable 24/7 repo.
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.
The first overnight trading puzzle pieces fall into place
The Waters Wrap: The NSCC moved to 24x5 clearing hours last week. What comes next is worth paying attention to, Nyela writes.
Reimagining fraud intelligence across trading systems
Researchers at IBM and Wipro say that trading firms need to transition from static fraud monitoring to adaptive behavioral intelligence embedded directly within the trading lifecycle.
Tale of two halves: Agentic AI and the coming capital markets reckoning
Firms that have built robust rails will be better placed to scale agents safely and improve productivity. Those that don’t will learn a hard lesson, says Andrew Morgan.
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.
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.
From the CIO seat: What it takes to build a super-connector bank
Markets are now more interconnected than ever, exacerbating some challenges. To help, there are three things firms should focus on, writes Gareth Hughes of Standard Chartered.
‘Vibe coding is burning us out’
Vibe coding is rapidly spreading throughout the capital markets, and some are unhappy about it, while others believe the genie is out of the bottle. Engineers spoken to for this story share some choice words—and several expletives—about this new form of…
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.