Episode 118: CAT Update, RTS 27 & 28 Concerns, Google Takes Aim at Finance

Anthony calls James from Raleigh, North Carolina, where he’s spending his vacation, to talk about happenings from the past week. Included is a look at both RTS 27 and RTS 28 in Europe, how exchanges are using AI to monitor their markets and how some are worried that so-called Big Tech providers like Google might start taking aim at the financial markets and squeeze out some of the more traditional players in the space. (See ‘The Lineup’ section below for more detail.) Then, at the end, a special pullout from a recent webinar that provided something of a “State of the Union” for the Consolidated Audit Trail (CAT) rollout in the US. Here are the speakers from the webinar, which was moderated by James: Tom Sporkin, Partner Buckley Sandler Joshua Beaton, CAT Program Manager and Head of US Regulatory Reporting CTB/Executive Director, Morgan Stanley Nathan Call, Director of RegTech Solutions, Protegent, Global Financial Services, FIS The Lineup 2:00 Exchange executives are not happy about requirements stemming from RTS 27. https://www.waterstechnology.com/regulation-compliance/3608831/in-broadsides-and-brush-strokes-traders-call-for-lighter-regulatory-touch 4:30 RTS 28, on the other hand, has its own set of challenges as the deadline hits Monday. https://www.waterstechnology.com/regulation-compliance/3608711/wary-brokers-sound-alarm-on-rts-28 7:15 Will Big Tech in the US and UK take aim at the financial marketplace similar to what we’ve seen in China? https://www.waterstechnology.com/infrastructure-technologies/3610346/amid-rumors-google-denies-plans-to-enter-financial-markets 8:30 In that vein, Microsoft made some big announcements this past week—is it a sign that they’re worried about IBM and Google’s advancement in the public-cloud sector? https://www.waterstechnology.com/organization-management/alliances-mergers-acquisitions/3604791/bny-mellons-eagle-inks-microsoft-cloud-partnership 12:30 Gemini Exchange is partnering with Nasdaq Smarts for surveillance. James takes a look at how exchanges are using AI to monitor for cheaters. https://www.waterstechnology.com/trading-technologies-and-strategies/3602931/market-cops-turn-to-crime-fighting-robots 14:00 James previews what the CAT webinar is all about. 16:45 The webinar pullout begins. The discussion looks at how the US Securities and Exchange Commission has been oddly silent up to this point. Tom Sporkin (Buckley Sandler) spoke first, then Nathan Call (FIS) second, and then Joshua Beaton (Morgan Stanley). To listen to the full webinar, which is about 45 minutes long, click here. https://webinars.on24.com/InfoproDigital/Getting_ahead_of_CAT