Banks Team Up for “Ion Replacement” Project

Consortium weighs building fixed-income software in potential threat to Ion, the dominant vendor

A group of European and UK banks is considering building its own fixed-income trading software, in a move that could allow members to cut ties with the market’s biggest vendor, Ion Group.

The project, dubbed Cohesion, is in its early days but pitches were invited from potential builders of the technology this summer. The banks are now understood to be weighing whether to commit further time and money to the work.

“All banks need to be more efficient, so when you have a player that’s as

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The IMD Wrap: Will banks spend more on AI than on market data?

As spend on generative AI tools exceeds previous expectations, Max showcases one new tool harnessing AI to help risk and portfolio managers better understand data about their investments—while leaving them always in control of any resulting decisions.

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