Trading Tech
What is Aladdin Trader? BlackRock’s fixed-income tool still a mystery
Sources tell WatersTechnology that Aladdin Trader will expand on the platform’s ‘limited’ execution functionality.
Better tech brings threat of two-speed trading in fixed income
Smaller asset managers may get left behind as automation allows the big players to prosper.
Waters Wrap: Examining ASX’s CHESS do-over
The Australian exchange was the first exchange to be all-in on DLT—and the project failed. Anthony speaks with ASX’s Tim Whiteley to discuss the lessons learned and why he thinks the second attempt will succeed.
Can machine learning help predict recessions? Not really
Artificial intelligence models stumble on noisy data and lack of interpretability
GenAI and HFT: A competitive edge?
Timing is critical in the capital markets. IBM researchers say genAI’s predictive abilities in combination with AI/ML models can translate into profitable HFT opportunities.
Goldman Sachs looks to ‘Amazon’-like ecosystem with MarketView launch
The new research and collaboration tool is delivered through Goldman’s Marquee platform.
Bloomberg deploys new chatbot tool to Terminal
The offering allows users to surface data and notifications from internal systems without ever having to leave Instant Bloomberg chatrooms.
Deutsche Börse to merge SimCorp and Axioma, shuttering Qontigo
The German exchange also plans to have 70% of its ‘IT state’ in the cloud by 2026.
Opra outages cause consternation in options markets
UBS warned clients they were looking at “bad data” on options screens
Traders, vendors seek to modernize chronically underinvested FX tech
The average FX professional uses eight applications at any one time. But integrating the FX workflow is a daunting task.
T+1: Complacency before the storm?
This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms
Broadridge’s LTX looks to GenAI as it competes for market share
LTX has pinned its hopes of breaking into the fixed-income market on innovative use of AI. But how successful has its approach been, and what is it up against?
Waters Wrap: Reading the fixed-income tea leaves
A lot gets made about how much fixed income has been electronified. Anthony says that “percentage” ignores the important technological evolutions and strategic shifts being made by the vendor community.
Nomura’s tech revamp propels its global FX push
The bank hopes the overhaul of pricing tech and a new single-dealer platform will boost its FX business.
Tradeweb turns attention to automating larger trades in credit
CEO: “In 2023, as we’re entering 2024, there are still clients that pick up the phone and do trades like it’s 1994.”
BNY Mellon streamlines the hunt for liquidity with LiquidityDirect updates
The bank spent the last three years evolving and expanding LiquidityDirect to include additional asset classes, and will white label the platform to customers.
For MarketAxess, portfolio trading buoys flat revenue in Q3
The vendor is betting on new platforms like X-Pro and Adaptive Auto-X, which helped forge a record quarter for platform usage.
Quants look to language models to predict market impact
Oxford-Man Institute says LLM-type engine that ‘reads’ order-book messages could help improve execution
JP Morgan pulls plug on deep learning model for FX algos
The bank has turned to less complex models that are easier to explain to clients.
Nasdaq says SaaS business now makes up 37% of revenues
The exchange operator’s Q3 earnings bring the Adenza and Verafin acquisitions center stage.
Harnessing generative AI to address security settlement challenges
A new paper from IBM researchers explores settlement challenges and looks at how generative AI can, among other things, identify the underlying cause of an issue and rectify the errors.
The causal AI wave could be the next to hit
As LLMs and generative AI grab headlines, another AI subset is gaining ground—and it might solve what generative AI can’t.
Waters Wrap: Operational efficiency and managed services—a stronger connection
As cloud, AI, open-source, APIs and other technologies evolve, Anthony says the choice to buy or build is rapidly evolving for chief operating officers, too.
BlackRock forecasts return to fixed income amid efforts to electronify market
The world's largest asset manager expects bond markets to make headway once rates settle.