Waiting for ESMA’s
list could be too late
for many firms.
RACHEL HUTCHINS, BLOOMBERG
utility that publishes the data.
Waiting for ESMA’s list could be
too late for many firms. Vendors
and reference data providers will
be consuming that data and so will
be able to provide a utility for that,”
she told delegates.
The Fin Tech panel explored
disruptive technologies like
high-frequency trading, artificial
intelligence and distributed ledger
technology. Although the overarching theme of this panel was that
technology is not, in fact, disruptive.
Instead, panellists agreed regulation should be considered the
disruptor.
Principal consultant at LiquidMetrix, Mark Ford, explained
increasing emphasis on electronic
markets is producing the ‘
disruptive’ technology. Though regulation
like MiFID II, with major reporting and record-keeping requirements, is leading to a change in
market behaviours.
“It’s not disruptive technology
but disruptive regulation. Consolidated tape, for example, will have
more effect on the industry than
anything else,” he said.
Different interpretations
Stefan Hendrickx, founder and
executive director at market surveillance firm Ancoa, added that
he expects to see disruption from
technology developed for aspects
of regulation like surveillance.
“Technology looking into how
decisions can be augmented and
using systematic methods could
prove to be very disruptive over the
next five years,” he explained.
