Trading Tech
What’s the market for Ion Markets?
With whispers swirling that Ion’s chief executive is looking to cash out on his tech conglomerate, big changes could be coming to the world of fixed-income software.
ICE: LLMs drove 60% increase in ICE Chat trades
The exchange revealed it has been working with LLMs for a decade to drive automation around its messaging platform. Now, it’s looking for more uses across all asset classes.
Connective tissue: S&P's InvestorAccess enables secondary market-like trading of primary issues
Through a combination of its own technology and partnerships with fixed-income mainstays Bloomberg and Tradeweb, S&P is looking to create end-to-end workflows to simplify trading of primary bond issues for both buy-side and sell-side firms.
Tradeweb aims to expand FI trading footprint after Yieldbroker addition
In what CEO Billy Hult described as a “challenging backdrop” for the quarter, the marketplace operator is looking ahead on acquisitions, automation and a widening pool of market-makers.
Outsourced trading sees uptick as buy side seeks more bang for its buck
Buy-side firms see outsourced trading as a way to simplify their operating model, while custodians see an opportunity to sell bundled services.
A Fireside Chat with SmartStream's Jethro MacDonald
Jethro MacDonald explains how SmartStream is using AI and machine learning technology to help its clients address a number of challenges around their reconciliation functions.
MarketAxess looks to proprietary data and automation with new offerings
The fixed-income trading provider’s Adaptive Auto-X automation tool and new data offerings were a bright spot amid lackluster Q2 earnings.
Nasdaq’s Friedman hints at plans for Adenza post-acquisition
During Nasdaq’s earnings call, Adena Friedman explained to skeptical investors why the deal makes sense for the exchange operator.
Antitrust complaint against Cusip can go forward, SDNY judge rules
The federal judge presiding over the ongoing class-action suit against Cusip Global Services, S&P Global, FactSet, and the American Bankers Association, has dismissed all complaints against the defendants except one alleging the quartet violated Section…
Charles River, software, data sales drive State Street in Q2
As traditional revenue lines declined at the custodian as a result of market forces, front-office software sales made big gains in its quarterly results.
Banks’ internal watchdogs bark back at ChatGPT
Generative AI has plenty of uses in finance, but banks must first overcome compliance headaches
Waters Wrap: What’s next for desktop interop?
Anthony takes a look at the desktop application interoperability space—how we got here and where he thinks it's going.
Automation in fixed income: Sorting the bluster from the bleeding edge
Automation is gaining traction in fixed-income markets, but use cases are limited and progress is slow. Market participants must overcome some uniquely human problems before they fully embrace the machine.
Questions surround buy-side tech consortium Hub
Little has been heard of the company formed by Pimco, Man Group, State Street, IHS Markit, Microsoft, and McKinsey since their announcement in January 2021.
LSEG, Symphony vie to build a ‘LinkedIn’ for capital markets
Six months on from its Microsoft tie-up, LSEG is optimistic about creating a trusted directory for the financial services industry. But it has competition.
Banks, asset managers look to vendors for T+1 support
This whitepaper, created by WatersTechnology in association with SmartStream, focuses on the upcoming move in the US to T+1 (next-day settlement) of broker-dealer-executed trades.
S3 Partners sues Ion’s Fidessa for breach of contract
The New York-based market data company has filed a complaint against Fidessa for failing to honor its agreement to invest up to $6.25 million into the business.
Optical computer beats quantum tech in tricky settlement task
Microsoft’s analog technology twice as accurate compared to IBM’s quantum kit in Barclays experiment
Bloomberg, Snowflake ally to accelerate cloud data adoption
Bloomberg has built an app in Snowflake’s cloud framework that will make it simpler and faster for Snowflake clients to populate their cloud-hosted tools with Bloomberg data.
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.
Shortening the Settlement Cycle: Then and Now in Asia
DTCC’s Joseph Capablanca says that while T+1 will bring benefits to Asia investors, industry participants need to improve ‘behavioral processes’.
BlackRock looks to expand Aladdin through accounting, data capabilities
Accounting, data, and analytics offerings make up part of Aladdin's strategy to become everything to everyone.
SFDR: A data project that’s becoming ‘a real headache’
SFDR mandates that asset managers must start publishing ESG data in a few weeks, but sourcing the new metrics has proved challenging, and a host of questions remain.
Hidden danger: As AI permeates finance, cybersecurity moves to the forefront
Open-source wrappers like MLflow, though useful and popular, highlight the risks hidden beneath these models.