U.S. equities exchanges are pushing back on the SEC’s sweeping order directing them and the Financial Industry Regulatory Authority (FINRA) to improve the governance structure for public, consolidated equity market data and the distribution of trade and quote data from trading venues. The order is intended to change the balance of power among trading venues… Read More >>
Firms Face Cutting-Edge & Conventional IT Challenges in 2018
(Editor’s note: This tumultuous year is winding down but there’s every reason to think that securities operations will continue to make leaps and bounds next year especially when it comes to cutting-edge IT. Erica Borghi (née Choinski), chair of the International Securities Association for Institutional Trade Communication (ISITC), and vice president of Fintech Risk at… Read More >>
SEC’s CAT Advances Despite Calls for a Delay
The controversial Consolidated Audit Trail (CAT) surveillance system and database of the SEC is moving ahead despite requests by major self-regulatory organizations (SROs) and industry groups that the effort be delayed because of concerns over cybersecurity and the deadline schedule. Last week, SEC Chairman Jay Clayton underscored the regulator’s need to stay on track with… Read More >>
