This week, Tradeweb’s Chris Bruner joins the podcast to discuss digital assets and fixed income.

0:00 – Reb is back in NYC!
6:30 – Chris Bruner, chief product officer at Tradeweb, joins Nyela on the podcast 
13:30 – Tradeweb’s history with blockchain
18:40 – Gauging client reception to digital assets
28:50 – Upcoming regulatory headwinds 

Episode 320: Tradeweb’s Chris Bruner


This week, Par Cassells joins Nyela to discuss shorter settlement cycles and the role of vendors in the transition.

0:00 – Tony and Nyela talk highlights from the Tech & Data in Financial Markets (TDFM) conference
7:00 – Par Cassells, chief client officer at AccessFintech, joins Nyela on the podcast
9:00 – Par’s takeaways from North America’s move to T+1
13:00 – The upcoming moves to T+1 in the EU and UK
17:00 – T+0 margin vs. T+0 settlement
20:30 – Difference between the transitions
24:00 – Vendors’ role in the T+1 transition


Episode 321: AccessFintech’s Par Cassells


This week, Reb, Nyela, and Shen discuss concerns around air travel and notable cybersecurity incidents.

https://www.waterstechnology.com/emerging-technologies/7952488/agentic-ai-takes-center-stage-bank-tech-projects-new-funding-rounds-and-more?cx_artPos=1&cx_testId=4&cx_testVariant=cx_1#cxrecs_s

0:00 – Reb, Nyela, and Shen talk about Reb’s flight back from New York
10:30 – They discuss two stories from our last Waters Cooler about the previous hacks on the SEC’s Edgar database and Ion


Episode 322: Navigating air travel and cybersecurity

This week, Riad Chowdhury, head of Asia-Pacific, and Dan Burke, global head of emerging markets at MarketAxess, join to discuss block trading in fixed income. Plus Reb discusses her recent article about Cusip and updates on the class action lawsuit moving through the courts.

00:00 Reb and Tony discuss recent reporting around Cusip and updates on the class action lawsuit
12:30 Riad Chowdhury, head of Asia-Pacific, and Dan Burke, global head of emerging markets at MarketAxess, join the podcast
14:40 Block trading in fixed income vs. equities
20:20 Drivers for larger-sized trades
23:00 MarketAxess’s Targeted RFQ
31:00 Challenges for dealers
33:00 Learnings from the equities world
39:00 Trends in bid/ask spreads for EM hard-currency debt
44:20 AI model for Targeted RFQ

Episode 323: MarketAxess’s Chowdhury and Burke (plus some Cusip updates)


This week, Reb and Nyela discuss BNY’s digital workers and what the use of AI in society signals for the future.


Episode 324: A philosophical conversation about AI

This week’s guest is Brian Bejile, cofounder & CEO, Octaura

0:00-7:20: Anthony Malakian and Rebecca Natale, Europe Editor for WatersTechnology, complain for seven minutes about poor customer service and artificial intelligence.

7:20-35:23: Brian Bejile and Nyela Graham, senior reporter at WatersTechnology, have an actual informative discussion—as opposed to Tony and Reb’s diatribes—about the origins of Octaura, modernization of the credit markets, the platform provider’s move into the collateralized loan obligation (CLO) space, and the need for more data and analytics on the buy side. 

Episode 325: Octaura’s Brian Bejile

This week’s guest is Nick Kolba, CEO and co-founder of Connectifi, who joins the podcast to discuss the Model Context Protocol, LLMs and agentic AI.  

0:00 – Tony and Shen talk about Astronomer’s ad campaign
5:30 – Nick Kolba joins the podcast 
8:00 – Step changes or big jumps in tech
18:00 – Excitement for the Model Context Protocol
21:00 – Parallels between FDC3 and MCP
24:30 – Concerns around security
30:00 – Work that still needs to be done
41:00 – Code generation for “senior engineers”


Episode 326: Connectifi’s Nick Kolba

This week’s guest is Mo Rahim, group chief data officer at Standard Chartered, who joins the podcast to discuss data and AI governance and guardrails for AI.

0:00 – Tony and Shen talk about recent shows they’ve watched 
9:00 – Mo Rahim joins the podcast
13:30 – Understand your core identity
17:00 – People and literacy
19:00 – Get your data right
25:00 – Standard Chartered’s research, partnerships, and innovation pillar   
29:00 – Building AI in a safe and responsible way
32:30 – AI is your plus one  


Episode 327: Standard Chartered’s Mo Rahim

This week’s guest is Lior Yogev, CEO and co-founder at FundGuard. He joins the podcast to discuss legacy tech stacks at asset management firms.

0:00 – Tony and Shen talk about personalities
10:00 – Lior Yogev joins the podcast
12:30 – When does a tech stack become legacy? 
19:00 – How asset managers modernize their platforms without excess downtime
22:30 – Migration times
26:30 – Total rebuild vs. slight tweaks

Episode 328: FundGuard’s Lior Yogev

This week, Reb and Tony talk about the internet and the problems compounded by AI.
https://www.waterstechnology.com/emerging-technologies/7952665/the-great-disappearing-internet%E2%80%94and-what-it-could-mean-for-your-llm

0:00 – Welcome to the team, Mya! You can reach her at Mya.Jheeta@infopro-digital.com 
7:00 – Reb and Tony discuss her recent column and the interconnected mess of a web of humans, internet, and AI


Episode 329: LLMs and the dead internet theory

On the podcast, James first interviews Joakim Strid, head of European surveillance at Nasdaq, about how the exchange is incorporating machine learning into its surveillance program. They then discuss how AI is set to change surveillance as a whole in the years to come. After that interview, Emilia David, US reporter for Waters, joins James and Anthony to discuss how T+2 came about in the United States. Then finish things up by discussing must-watch TV for the fall now that Game of Thrones is over.

Nasdaq & Machine Learning
2:30 Joakim first talks about how Nasdaq is using machine learning to surveil its Nordic marketplace. 
http://www.waterstechnology.com/exchanges-trading-venues/3420051/nasdaq-boosts-surveillance-with-machine-learning 

5:15 He then looks at how the machine-learning algorithms work.
7:30 Why are machine-learning techniques useful when compared to existing techniques?
8:45 Joakim explains the genesis of the project.
10:45 Finally, he looks at what the possible future of machine learning holds for the surveillance sector.

T+2
14:00 What were the roadblocks keeping T+2 from being a reality in the US?
http://www.waterstechnology.com/industry-issues-initiatives/3414776/settling-down-how-the-us-finally-embraced-t2 

15:30 Why was this transition so difficult?
http://www.waterstechnology.com/industry-issues-initiatives/3419486/t2-settlement-begins-in-us-markets

18:15 How long until T+1? T+0?!
http://www.waterstechnology.com/industry-issues-initiatives/3417141/blockchain-not-yet-ready-to-power-t0-settlement 

23:30 TV shows you should start watching today.

86: Nasdaq's Use of Machine Learning & T+2 Update

Wei-Shen Wong and Anthony Malakian discuss the hottest financial technology topics in the capital markets every week.

86: Nasdaq's Use of Machine Learning & T+2 Update

Waters Wavelength Podcast