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McKinley exits as Cummings enters Merrill Lynch; Riffert strolls to Random Walk Boston; TradinGear’s Gaer to be NYMEX CIO?

POSITION KEEPING

McKinley Exits as Cummings Enters Merrill Lynch

John A. McKinley, Jr. stepped down as Merrill Lynch’s head of global technology services and CTO last month to be replaced by John W. Cummings, Merrill Lynch’s current COO of global technology and services. McKinley’s exit signals the last direct report to retiring chairman Dave Komanksy and the last new report to CEO Stan O’Neal.

"The good news is that John and I have worked closely for several years," says McKinley in an exclusive interview with

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‘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 coding.

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.

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