RBC Prepares for the AI Era
Royal Bank of Canada has launched a standalone AI Group, headed by Bruce Ross and reporting directly to the CEO, to accelerate the bank’s artificial‑intelligence agenda across retail, wealth and capital‑markets businesses. The group builds on RBC’s decade‑long AI foundation, including the Borealis Research Institute and products such as NOMI Insights, Aiden, Lumina and the ATOM transaction model. It will prioritize high‑impact use cases like fraud detection, credit modeling and cyber‑security while operating under a responsible‑AI framework. RBC already has tens of thousands of employees using internal generative‑AI tools, positioning the bank to scale AI‑driven client solutions.
SIFMA’s Quantum Dawn VIII Exercise Tests Readiness for Polycrisis Incidents
SIFMA released the after‑action report for its biennial Quantum Dawn VIII resilience exercise, which simulated a Category 5 hurricane, a transatlantic cable cut, a Financial Market Infrastructure outage, and a state‑backed zero‑day cyber attack. Nearly 1,000 participants from over 100 public and...
Trading Technologies Previews Future Alpha
Trading Technologies (TT) will showcase its algorithmic trading suite at Future Alpha 2026, a two‑day conference in New York attended mainly by buy‑side firms. TT aims to highlight how its AI‑driven execution tools, transaction‑cost analysis (TCA) capabilities, and recent OpenGamma...
Epstein Files Reveal Inner Workings of the Country’s Largest Financial Firms
The Justice Department’s release of the searchable Epstein files gives the financial advisory and M&A community unprecedented access to real-world valuation reports, purchase agreements, and fairness opinions from top‑tier firms. The archive shows how broad discovery sweeps can pull in...
Retail Investors Stay the Course in Volatile Markets, Moving Money Into ETFs and Commodities
Finimize’s quarterly Modern Investor Pulse shows retail investors remain bullish despite volatility, with confidence that global markets will rise in 12 months climbing to 68%. Nine‑in‑ten plan to keep or increase investment levels, shifting surplus cash toward ETFs (62.5%) and...
BMLL, Tradefeedr Partner on Analytics for Equities and Futures Data
BMLL and Tradefeedr announced a partnership to create an AI‑ready analytics layer for equities and futures trading data, leveraging BMLL’s harmonised historical order‑book datasets. The collaboration will extend Tradefeedr’s existing FX analytics APIs to cover multi‑asset execution data, delivered through...
In Support of Active Management: How Tax Policy Is Undermining Active Management
U.S. tax law forces open‑ended mutual funds to pass through realized capital gains to shareholders, creating a tax drag that pushes investors toward exchange‑traded funds. ETFs avoid immediate taxation through in‑kind creations, making them more tax‑efficient. This shift undermines active...
Nasdaq, Talos Partner on Tokenized Collateral Management
Nasdaq and digital‑asset platform Talos announced a partnership to link Talos’ infrastructure with Nasdaq’s Calypso and Trade Surveillance systems, creating an integrated solution for tokenized collateral management. The collaboration aims to unlock over $35 billion of capital currently tied up in...
London Mega Mergers Test Tech More than Balance Sheets
London’s latest mega‑asset‑manager mergers highlight a shift from headline‑grabbing deal values to the hidden technology challenge of integrating disparate data engines. While consolidation promises top‑line growth amid shrinking profitability and rising regulatory costs, legacy databases and cloud‑native platforms often clash,...
Rewriting the Hedge Fund Playbook: Lessons From 2008
With assets near $5 trillion, hedge funds face a modest March drawdown amid Iran‑related volatility. The article argues that structural reforms since 2008—more realistic performance expectations, stricter due‑diligence, better liquidity alignment, and a shift toward stable institutional capital—make a repeat of...
Texas Stock Exchange Ramps Up Push Into U.S. Listings Market
The Texas Stock Exchange (TXSE) is intensifying its push into the U.S. listings market with a $275 million capital raise, a national advertising campaign, and a fully built technology platform. Founder James H. Lee positions the venue as a transparent, issuer‑aligned...
Celent Launches AI-Enabled Intelligence
Celent, a GlobalData research firm, unveiled an AI‑enabled intelligence platform for financial institutions on 16 March 2026. The solution merges proprietary research, expert advisory, data tools and a purpose‑built AI assistant called AVA into a single, searchable environment. Designed to accelerate technology...
ON THE MOVE: Paul Ponomarev Joins CIBC; David Ke to Evercore
Canadian Imperial Bank of Commerce appointed Paul Ponomarev as Managing Director and Global Head of Program Trading, bringing Bernstein’s electronic execution expertise to its New York hub. Evercore hired David Ke as senior managing director in its equity capital markets...
Prediction Markets Rule the Day at Boca
At the FIA Global Cleared Markets Conference in Boca Raton, prediction markets dominated the agenda, with FIA President Walt Lukken praising their accessibility and crowd‑sourced accuracy. He also warned that legal clarity and robust insider‑trading surveillance are essential. Exchange CEOs...
Women Navigate Finance’s Pay Challenge
Lossdog’s new report estimates women in finance lose $7‑15 million in lifetime economic value due to structural market forces that compound pay gaps. The study highlights how employer concentration, monopsony power, and a “reset” mechanism triggered by career interruptions dramatically depress...
Connamara Technologies Engages Exactpro as Independent Testing Provider for EP3®
Connamara Technologies has hired Exactpro to perform independent, third‑party testing of its EP3® exchange and clearinghouse platform. EP3 currently powers thirteen exchanges and three clearinghouses, handling both traditional and emerging asset classes. Exactpro will execute functional, non‑functional, and performance tests...
LMAX Group’s Barbara Pozdorovkina Rethinks Market Infrastructure
Barbara Pozdorovkina, Chief Growth Officer of LMAX Group, outlines the firm’s shift from a pure FX venue to a global, cross‑asset marketplace that blends traditional finance with digital assets. She highlights the accelerating convergence of stablecoins, blockchain settlement, and 24/7...
DERIVSOURCE: Geopolitical Conflict Drives Derivatives Market Change
A Greenwich‑Crisil report finds geopolitical conflict now tops the list of forces reshaping the derivatives market, with 63 % of end‑users ranking it first. Prediction markets and tokenisation have surged into the top three drivers, while regulatory concerns fall to fifth...
Fostering Regulatory Harmony Between the SEC and CFTC
SEC Chairman Paul Atkins used the FIA Global Cleared Markets Conference to outline a new push for regulatory harmony between the SEC and the CFTC. He announced joint staff meetings, a revised Memorandum of Understanding, and a "substituted compliance" approach...
Cboe Introduces Innovative Prediction Markets Framework
Cboe Global Markets announced a patent‑pending prediction‑market framework that adds a middle‑ground payout tier to traditional binary contracts. The new structure offers three possible outcomes—a $0 payout, a partial payout within a defined "payout zone," or a full $100 payout....
VOL REPORT: Stagflation Fears Drive Widening Volatility Risk Premium
Stagflation concerns have pushed volatility risk premiums to record levels across commodities and equities. One‑month implied volatility for crude oil surged to 104%, the highest since 2020 and near 2008 crisis peaks, with the volatility risk premium now almost twice...
Veteran Fintech Executive Keith Todd Launches Sapphire Technology Group
Veteran fintech leader Keith Todd has launched Sapphire Technology Group Ltd., a London‑based firm built around the “Sapphire Doctrine” – a repeatable framework for high‑growth, stakeholder‑aligned transformation. The company will run two core initiatives: Sapphire Leadership, a C‑suite coaching program...
FIA Highlights Challenges, Opportunities of 24/7 Trading and Clearing
The Futures Industry Association (FIA) issued a whitepaper outlining the transition to 24‑hour, 7‑day trading and clearing for exchange‑traded derivatives. It highlights the need for continuous clearing, robust risk management, and sufficient liquidity to prevent market instability. The paper presents...
Margin, OMS, Clearing, Prediction Markets in Focus at FIA Boca
The FIA Global Cleared Markets Conference in Boca Raton will showcase Trading Technologies' latest initiatives, highlighted by the rapid integration of OpenGamma to deliver advanced margin‑optimization analytics. By pinpointing lower‑margin counterparties and alternative clearing venues, OpenGamma helps clients free capital...
DERIVSOURCE: Options Trading Spikes on Iran War
The US‑Israel‑Iran war has triggered an immediate surge in derivatives trading, especially ultra‑short‑dated options. Zero‑days‑to‑expiration (0DTE) contracts now dominate SPX volume, accounting for two‑thirds of activity. Traders are buying protective puts to hedge against further escalation, while crypto options have...
Douro Labs Pushes SEC to Modernize Vendor Display Rule
Douro Labs has filed a comment letter urging the SEC to modernize Rule 603 of Regulation NMS, which currently mandates that broker‑dealers display SIP‑derived NBBO and last‑sale data. The firm argues the rule’s technology‑specific language is outdated and proposes a technology‑neutral “Fair...
WFE Flags Settlement Risks in Push Toward 24/5 Trading
The World Federation of Exchanges (WFE) warns that extending equity trading to a 24‑hours‑five‑days (24/5) schedule introduces settlement and liquidity risks unless clearing, settlement and payment infrastructures are upgraded. U.S. venues such as NYSE Arca, Nasdaq and Cboe are piloting...
DERIVSOURCE: The Pros and Cons of Client Clearing
Client clearing volumes jumped 67% in early 2026, driven by the uncleared margin rule and new structures like the European Agent Trustee Model. The OFR working paper highlights benefits such as reduced dealer gross exposure, lower collateral needs, broader dealer...
Tokenization Moves Into Production as Collateral Leads the Way
Tokenization is moving from experimental labs into core derivatives infrastructure, with Franklin Templeton and DTCC executives highlighting its ability to embed contracts directly in assets and replace multiple ledgers with a shared record. The technology promises near‑instant settlement and 24/7...
Why 2026 Could See Mainstream Adoption of Prediction Markets
Prediction markets have evolved from niche mood indicators to liquid platforms handling billions in weekly turnover. Asset managers are increasingly viewing them as direct hedges for event risk that traditional derivatives cannot cover. Regulatory clarity, exemplified by CFTC approval of...
Tradeweb and Kalshi Announce Strategic Partnership
Tradeweb Markets announced a strategic partnership with Kalshi, including a minority equity investment, to bring Kalshi’s regulated prediction‑market data onto Tradeweb’s electronic trading platform. The collaboration will embed real‑time event probabilities into Tradeweb’s rates and credit marketplaces and develop new...
ISDA’s Amy Hong: ‘North Star’ Is Safe and Efficient Markets
ISDA’s new board chair Amy Hong reaffirmed the association’s 40‑year mission to keep derivatives markets safe and efficient, while charting a 2026 agenda focused on technology and regulatory alignment. She highlighted the continued push to finalize Basel III trading‑book rules and...
Liquidnet Appoints Michael Gibbons as Global Head of Listed Derivatives Business Development
Liquidnet announced the appointment of Michael Gibbons as Global Head of Listed Derivatives Business Development. Gibbons arrives from Morgan Stanley after more than a decade leading electronic futures sales and algorithmic execution initiatives. Based in New York, he will drive...
OPR and ‘The Doorman Fallacy’
The Order Protection Rule (OPR), a core element of Reg NMS, obliges U.S. exchanges to route orders to the venue displaying the national best bid or offer (NBBO). Since its adoption, the rule has spawned 17 protected exchanges, many with...
