This week, Javier Hernani, head of securities services at SIX, joins Wei-Shen on the podcast. They discuss the key takeaways from shortening the settlement cycles in the US, Canada, and Mexico, and the landscape for what needs to happen for Europe, UK, and Switzerland’s own move to T+1.

7:30 – Javier gives an overview of his role and dislike of the term “post-trade”

12:30 – The key takeaways from North America’s move to T+1

16:30 – What was the total investment in moving to T+1

21:00 – An opportunity to improve

23:00 – Lessons the EU, UK, and Swiss markets can apply

33:30 – The number of CSDs does not make it more complicated

35:30 – Why harmonizing EU’s securities services matters

40:30 – Balancing efforts for T+1 and DORA

Happy New Year, dear listeners. This week, Tony and Shen reflect on how this podcast started, the guests we’ve brought on, the changes in music (and co-hosts), and the topics we’ve covered and will be covering looking ahead.

Eliot talks to Carlo di Florio, president of financial services advisory company ACA Group, about the SEC’s key decisions this year, as well as the future of the regulator with current SEC Chair Gary Gensler’s tenure at the helm of the top US financial services regulator coming to an end in 2025. di Florio joined the SEC in the aftermath of the 2008 financial crisis, and while there, headed up the regulator’s examinations division.

Note to listeners: This episode was recorded before Paul Atkins’ SEC nomination.

6:30 – Carlo joins Eliot on the podcast

13:00 – Striking a balance

14:30 – The Gensler administration vs. future direction of the SEC

18:00 – New regulatory ideas around crypto, and other emerging technologies

19:30 – Pause on rulemaking

23:00 – Enforcement of off-channel communications

29:00 – The future of the Consolidated Audit Trail

Reb and Shen discuss Reb’s article about how generative AI will impact the market data industry and how that will also creep into the reference data space. Reb also details a market data framework by Substantive Research, the drama around reference data identifiers, and a preview of her next story.

https://www.waterstechnology.com/emerging-technologies/7952088/ai-set-to-overhaul-market-data-landscape-by-2029-new-study-finds?ref=header-search

https://www.waterstechnology.com/data-management/7951990/industry-seeks-to-avoid-future-clashes-over-data-costs

https://www.waterstechnology.com/data-management/7951982/new-working-group-to-create-open-framework-for-managing-rising-market-data-costs

Tony and Wei-Shen talk about five essential things you need to know when interacting with us as a source.

1. On the record/on background/off the record

2. Don’t be a drone

3. Give tangible examples

4. We may need help understanding the subject matter

5. Why you want to talk to the media

This week, Tony and Shen discuss the first article from the Voice of the CDO series, as well as their thoughts on the Jake Paul v. Mike Tyson fight.

https://www.waterstechnology.com/data-management/7952103/chief-data-officers-must-get-it-done-but-differ-on-what-that-means

This week, Steve Grob, founder of Vision57, joins Tony on the podcast. Together, they chat about interoperability and the future of the OMS.

5:00 – Steve joins the podcast. They kick things off with firms’ appetite for AI

9:00 – Rubbish in, rubbish out

13:00 – Fix the standardization and availability piece

15:30 – The state of the interop movement

20:30 – Cloud is a pre-requisite

22:30 – What the future OMS isn’t going to be

26:30 – Dealing with the “sprawl” problem

This week, James Leong, CEO of Grasshopper, joins Wei-Shen on the podcast. They discuss the market reforms the Singapore Exchange and the Monetary Authority of Singapore are considering.

9:30 – James joins the podcast and gives an overview of Grasshopper and its journey since 2006

12:00 – They discuss why the SGX and the MAS are looking at market reforms

14:30 – Liquidity is fundamental

16:00 – How much government intervention should there be?

18:00 – Increasing retail trading?

23:00 – Singapore’s position as a regional trading hub

28:30 – Market making is somewhat misunderstood in Asia

32:30 – James’ background in psychology and how to manage egos

This week, Tony and Reb discuss the industry's reaction to the FDTA proposed rules around identifiers, what that could mean for the ongoing Cusip lawsuit, and the Opera.

This week, Shen speaks with James Crosby, co-founder and CEO of data management provider Fencore. They discuss the evolutionary nature of the buy side’s approach to technology platforms and data and how it has come full circle.

9:30 – James joins, and we discuss the buy-side operating model

14:30 – How it has evolved

16:30 – Are we repeating old mistakes, and why that’s a problem

21:00 – How should firms put an EDM in place

23:30 – A future-proof model

26:00 – What is a good organizational operating model