SellSide

CAT Resurrects the Age-Old Question ‘Build vs. Buy?’ Automation

CAT Resurrects the Age-Old Question ‘Build vs. Buy?’

https://tabbforum.com/opinions/cat-resurrects-the-age-old-question-build-vs-buy/ Alex Rabaev - Overall, in-house built solutions are not replaceable, but it may be more practical to consider outside solutions. The decision is never one dimensional and never in the moment, as it will transcend scope and time. Your decision should balance practical short-term considerations and long-term strategy/vision.
On the Cost of ‘Free’ Trades Data

On the Cost of ‘Free’ Trades

https://tabbforum.com/opinions/on-the-cost-of-free-trades/ Don Ross - Our markets, you see, were not built for institutions. They were built for the little guys – guys with little orders. We have complex and costly market-linkage and order-handling rules to protect their orders.
Best Execution in the US: 3 Things Broker-Dealers Need to Think About Data

Best Execution in the US: 3 Things Broker-Dealers Need to Think About

https://tabbforum.com/opinions/best-execution-in-the-us-3-things-broker-dealers-need-to-think-about/ John Jannes - Here are three key takeaways that broker-dealers need to think about. 1. Now is the time to have conversations with your downstream brokers and venues. 2. Start gathering the required look-through data. 3. Understand the two options to obtain and process downstream execution data.
FinServ Ramps Up Machine Learning MachineLearning

FinServ Ramps Up Machine Learning

https://www.marketsmedia.com/finance-to-increase-machine-learning-use/ Shanny Basar - The study said firms were using machine learning in cases ranging from equity trading to optimize order-routing and deal execution to anti-money laundering where the technology is used to analyse millions of documents for ‘know-your-customer’ checks. Insurance and banking had the most live cases in the sample with the median bank having 5.5 machine learning applications.
AI permeates capital markets ArtificialIntelligence

AI permeates capital markets

https://www.finextra.com/newsarticle/34515/ai-permeates-capital-markets---study Greenwich Associates report - With 44% already using AI and another 17% reporting plans to implement it in trading in the next 12 to 24 months, a solid majority of market participants — including buy-side institutions, sell-side firms, exchanges, and others — soon will be using AI in the securities trading process.
Unintended Consequences: Shrinking Sell-Side Research BuySide

Unintended Consequences: Shrinking Sell-Side Research

https://tabbforum.com/opinions/unintended-consequences-shrinking-sell-side-research/ Douglas Christensen - Transparency has led to cost pressures and a reduction in research spending, which has had the unintended consequence of brokers and banks scaling back on the cost of coverage and ultimately has led to diminished output of published research.
New and Improved Algorithms Empower the Buy Side Automation

New and Improved Algorithms Empower the Buy Side

https://tabbforum.com/opinions/new-and-improved-algorithms-empower-the-buy-side/ Larry Tabb - As a result, brokers are re-investing in their infrastructure and trying to leverage new technologies and data science to make their trading algorithms better, more efficient and more effective.
Why You Are Probably Using the Wrong Technology in Capital Markets BuySide

Why You Are Probably Using the Wrong Technology in Capital Markets

https://tabbforum.com/opinions/why-you-are-probably-using-the-wrong-technology-in-capital-markets/ Steve Grob - Some firms have already seen the writing on the wall. Hg’s Director of research, David Toms, points out that Goldman Sachs has increased its spend on technology by 48% while simultaneously reducing staff expenditure by 13% over the past 5 years.
The CAT Plan Website Data

The CAT Plan Website

https://www.catnmsplan.com/faq/index.html CAT REPORTING TIMELINES Last Updated: September 10, 2019 Phase Firm Type Event Date 2a Equities Large Industry Members and Small Industry Members that are OATS Reporters Test Environment opens for file submission and data integrity validations December 16, 2019
Statement On Status Of The Consolidated Audit Trail, SEC Chairman Jay Clayton Data

Statement On Status Of The Consolidated Audit Trail, SEC Chairman Jay Clayton

http://www.mondovisione.com/media-and-resources/news/statement-on-status-of-the-consolidated-audit-trail-sec-chairman-jay-clayton/ Conclusion I believe that the next six to twelve months will be critical for moving the CAT from concept to reality.  I urge the SROs to continue their efforts to work cooperatively with each other and with the industry to fulfill their obligations under the CAT NMS Plan as promptly as practicable, always keeping front of mind the importance of cybersecurity and the protection of sensitive data.