Waters Wrap
LLMs are making alternative datasets ‘fuzzy’
Waters Wrap: While large language models and generative/agentic AI offer an endless amount of opportunity, they are also exposing unforeseen risks and challenges.
Regulators can’t dodge DOGE, but can they still get by?
The Waters Wrap: With Trump and DOGE nipping at regulators’ heels, what might become of the CAT, the FDTA, or vendor-operated SEFs?
Tariffs, data spikes, and having a ‘reasonable level of paranoia’
History doesn’t repeat itself, but it rhymes. Covid brought a “new normal” and a multitude of lessons that markets—and people—are still learning. New tariffs and global economic uncertainty mean it’s time to apply them, ready or not.
DLT and digital contracts for market data: Has the hammer found the nail?
Waters Wrap: A new platform that a custom-made DLT underpins is coming to market. Anthony examines its merits and, surprisingly, finds a lot.
The murky future of buying or building trading technology
Waters Wrap: It’s obvious the buy-v-build debate is changing as AI gets more complex, but Anthony wonders how trading firms will keep up.
FactSet-LiquidityBook: The buy-side OMS space continues to shrink
Waters Wrap: Anthony spoke with buy-side firms and industry experts to get a feel for how the market is reacting to this latest tie-up.
Agentic AI and big questions for the technologists
Waters Wrap: Much the same way that GenAI dominated tech discussions over the last two years, the road ahead will feature a lot of agentic AI talk—and CIOs and CTOs better be prepared.
8 bank CTOs and CDOs sound off on artificial intelligence
Waters Wrap: Last year, WatersTechnology spoke with heads of technology and data from a range of tier-1 banks. Anthony pulls at one common thread from those interviews: AI.
IPC’s C-suite shuffle signals bigger changes for trader voice tech
Waters Wrap: After a series of personnel changes at the legacy provider, WatersTechnology examines what these moves might mean for the future of turrets and trader voice.
As vulnerability patching gets overwhelming, it’s no-code’s time to shine
Waters Wrap: A large US bank is going all in on a no-code provider in an effort to move away from its Java stack. The bank’s CIO tells Anthony they expect more CIOs to follow this dev movement.
If M&A picks up, who’s on the auction block?
Waters Wrap: With projections that mergers and acquisitions are geared to pick back up in 2025, Anthony reads the tea leaves of 25 of this year’s deals to predict which vendors might be most valuable.
Enough with the ‘Bloomberg Killers’ already
Waters Wrap: Anthony interviews LSEG’s Dean Berry about the Workspace platform, and provides his own thoughts on how that platform and the Terminal have been portrayed over the last few months.
Banks seemingly build more than buy, but why?
Waters Wrap: A new report states that banks are increasingly enticed by the idea of building systems in-house, versus being locked into a long-term vendor contract. Anthony explores the reason for this shift.
Icy attitudes on internal GenAI usage are thawing—and just in time
Waters Wrap: More and more banks and asset managers are publicly talking about how they are experimenting with generative AI. In the fight for talent, Anthony says this is a necessary step.
ForecastEx, event contracts, and a new way to think about markets
Waters Wrap: Anthony speaks with the former CEO of OneChicago David Downey about his new venture and the future of prediction markets.
DORA will change the buy vs. build debate… maybe
Waters Wrap: With DORA’s deadline looming, trading firms are having to reassess their long-term tech strategies. Anthony wonders if that means more building and less buying.
Off-channel messaging (and regulators) still a massive headache for banks
Waters Wrap: Anthony wonders why US regulators are waging a war using fines, while European regulators have chosen a less draconian path.
As data volumes explode, expect more outages
Waters Wrap: At least for those unprepared—though preparation is no easy task—says Anthony.
Waters Wrap: After CrowdStrike crisis, will anyone learn?
Several bank and hedge fund sources tell Anthony that while there’s plenty to be learned from the CrowdStrike bug, some will more than likely forget those lessons in a few weeks’ time.
Waters Wrap: The changing definition and perception of blockchain
Anthony says that questions of definition and perception are killing DLT projects in the capital markets—oh, and a lack of proven implementations.
Waters Wrap: CME, Google and the pursuit of ultra-low-latency trading
CME Group and Google have announced Aurora, Illinois, as the location for the exchange’s new co-location facility. Anthony explains why this is more than just the next phase of the two companies’ originally announced project.