Surveillance
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.
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.
AI’s next gig: The rising cost of off-channel communications compliance
As the cost of analyzing communications increases, what tools can firms deploy to save time and money while avoiding penalties?
CAT on life support after appeals court ruling
Ahead of a comprehensive review promised by the SEC, lawyers believe that the recent overturn of the Consolidated Audit Trail’s funding order could herald its demise.
Exchanges plead with SEC to trim CAT reporting requirements
Letters from Cboe, Nasdaq and NYSE ask that the new Atkins administration reduce the amount of data required for the Consolidated Audit Trail, and scrap options data collection entirely.
Deutsche Bank delivers AI, client insights with ‘muscle memory’
Voice of the CTO: The German bank is taking finely honed skills and capabilities and deploying them for new and emerging use cases.
Nasdaq leads push to reform options regulatory fee
A proposed rule change would pare costs for traders, raise them for banks, and defund smaller venues.
Waters Wavelength Ep. 304: Nice Actimize’s Lee Garf
Lee joins to discuss changes in communication platforms over the last few years.
Buy-Side Technology Awards 2024 winner’s interview: Kaizen
Kaizen’s vice-president discusses the Best market surveillance platform win in this year’s BST Awards.
Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T
Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.
Preparing for the gathering storm
The Markets in Crypto-Assets (Mica) regulation came into force across the European Union on June 29 to enhance the transparency and integrity of the industry’s burgeoning crypto markets. Travis Schwab, CEO of Eventus, discusses his firm’s Mica strategy…
OneTick taps HFT start-up Lo:Tech for crypto market data
Lo:Tech’s founders come from the quant and high-frequency trading space.
Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this…
Finra clears hurdle with CAT launch, but several others remain
Two major components of the consolidated audit trail are now in place. But wrangling over the CAT’s future continues.
Nasdaq reshuffles tech divisions post-Adenza
Adenza is now fully integrated into the exchange operator’s ecosystem, bringing opportunities for new business and a fresh perspective on how fintech fits into its strategy.
AI expert warns of algo-based market manipulation
An artificial intelligence professor warns of machine learning ‘arms race’ for regulators against those seeking to use new technologies to manipulate financial markets.
In ‘unusual’ move, Virtu fights $25m SEC fine for data safeguarding breach
Virtu disputes the regulator’s claim that employees had ‘unfettered’ access to consumer data.
Clients versus compliance: banks hung up over WhatsApp fines
Most opt for outright ban, but some seek technological solutions to monitor private messaging.
The push for compliance tech to be flexible, not ‘a burden’
Firms need to actively drive trade surveillance compliance above and beyond regulatory requirements, says Joe Schifano.
Nasdaq–Adenza: A look at the tech
The exchange operator announced its intention to acquire the software firm, which combines AxiomSL and Calypso, in a deal that amounts to its largest acquisition to date.
FCA may offer its market data to surveillance tech start-ups
The regulator is concerned that rapid AI adoption will favor incumbent vendors; it aims to launch a sandbox.