Ivy Schmerken FlexTrade Systems – “Currently, an OMS has the primary level information, and gets the last market where the order was executed, including whether it added or removed liquidity, and it can calculate execution costs based on known fees, explained Chu. “But, if those algo providers routed the order to another venue or exchange, and that gets routed out further, we don’t have that secondary or third-level or fourth-level of information today,” said Chu. “There’s no structure to get that information today,” he said.
Gathering the information on these downstream orders has been a challenge, especially if brokers utilize more than one OMS or have an EMS, said Chu.
“If our clients use us solely for their trading, we have all the data in the OMS, so we would provide the data over to the 606 [data] vendor,” said Chu. “When some clients use another OMS or EMS, we have no visibility.” “
Dr. Bimal Roy Bhanu AiXPRT – “In terms of regulatory compliance in financial services – for example, automating the KYC processes for AML and CTF – the utopia is an AI solution system that harnesses machine learning and natural language algorithms. The AI engine should not be static; rather, it should be trainable to understand any regulation regardless of geography. Also, once the system has learned a regulation, it should be simple – using a straightforward text input interface – to teach the engine to understand any differences or changes in regulation. It might take a person weeks to understand and be trained for changing regulations, whereas the AI solution can do it in a matter of hours.
Given that it can take months to manually complete compliance assurance processes, the business case for embracing the automated efficiencies, cost savings and analytics delivered by AI compliance solutions is undeniable. Such platforms are available and are infinitely superior to the illusory masquerade of the AI-washing brigade.”
On November 15, 1867, the first stock ticker is unveiled in New York City. The advent of the ticker ultimately revolutionized the stock market by making up-to-the-minute prices available to investors around the country. Prior to this development, information from the New York Stock Exchange, which has been around since 1792, traveled by mail or messenger.
The ticker was the brainchild of Edward Calahan, who configured a telegraph machine to print stock quotes on streams of paper tape (the same paper tape later used in ticker-tape parades). The ticker, which caught on quickly with investors, got its name from the sound its type wheel made.