Infrastructure
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.
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.
DTCC dives into public cloud
The clearing house has begun migrating its equities clearing and settlement systems to AWS, while its tokenization systems have migrated to Microsoft Azure ahead of their launch this fall.
Solving the last line of latency
Repurposed copper cables and hollow-core fiber can optimize latency even for firms who feel they’ve hit a ceiling, writes Vahan Sardaryan in this guest column.
The infrastructure gap: Capital markets operations 2026
When institutional adoption outpaces operational reality
FactSet’s vectorization service aims to improve agent accuracy
FactSet chief AI officer Kate Stepp discusses the importance of having AI-ready data in the agentic era.
Hitting the Great Wall: Details scarce on China’s Xinchuang initiative
In a quest to learn more about China’s Xinchuang initiative, Wei-Shen finds trying to get information feels like running into a wall over and over again.
Capital markets’ demand for Google’s chips buoys cloud business
Google will begin delivering its TPUs to a select group of clients in their own datacenters later this year.
What firms get wrong when changing investment operations technology
Without operating redesign, governance, and clear accountability, modernization can amplify risk instead of reducing it, writes Patrick Conroy.