NIST publishes revised cybersecurity guidance | Big data analytics market likely to exceed $200B in 2020 | Goldman increases automated bond trading
August 17, 2017
SIFMA SmartBrief Operations & Technology
News on the capital markets for operations and technology professionals
Top Story
NIST publishes revised cybersecurity guidance
The National Institute of Standards and Technology on Tuesday published a draft revision of its Security and Privacy Controls for Federal Information Systems and Organizations, integrating privacy and cybercontrols and tying them to the agency's cybersecurity framework. The draft will be open for public comment until Sept. 12.
Nextgov (8/15),  Politico Pro (subscription required) (8/15) 
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Operations Update
Big data analytics market likely to exceed $200B in 2020
Big data analytics is on track to become a $200 billion-plus market over the next three years. Although the cost of collecting and storing data has plummeted in recent years, wrangling and effectively analyzing data troves continues to pose a challenge for many enterprises.
Bloomberg Professional Services/CIO (8/8) 
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Goldman increases automated bond trading
Goldman Sachs has tripled algorithmic corporate-bond trading and plans to expand to high-yield bonds as the industry automates smaller trades to give dealers more time for larger trades.
Financial Times (tiered subscription model) (8/16) 
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Big banks embrace resolution planning
Major banks have incorporated resolution planning into their overall strategies, addressing the weaknesses seen in prior plans, according to this analysis.
The Columbia Law School Blue Sky Blog (8/11) 
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Technology Update
ICE data chief talks future of technology
Steve Hirsch, chief data officer at Intercontinental Exchange and the New York Stock Exchange, says in a podcast that dealing with the massive amount of financial-market data means embracing technology such as artificial intelligence, rather than fearing it.
Forbes (8/15) 
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Research: Why fintech is poised to change the financial sector
This paper released by the Federal Reserve explores the current wave of fintech innovations and why technology appears poised to bring about massive changes in the financial sector. Research points to a number of factors, including the "depth" of innovation currently at play.
Federal Reserve (8/2017) 
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JPMorgan reportedly taps AI expert to manage trading hub
JPMorgan Chase has hired machine learning expert Chris Murray, formerly of Goldman Sachs, to help manage JPMorgan's global central risk book, sources say.
Financial News (UK) (tiered subscription model) (8/17) 
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Regulatory and Legislative Update
LabCFTC head discusses fintech priorities, regulation
LabCFTC, a financial-technology initiative created in May by the Commodity Futures Trading Commission, has received a positive response, Director Daniel Gorfine says. The CFTC is in "listen-and-learn mode" regarding fintech regulation, says Gorfine, who is also chief innovation officer of the regulator.
Corporate Counsel online (8/15) 
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Program Available - Global Corporate Actions Forum: Oct. 5, Boston
Hosted by the Corporate Actions Section (CAS) of SIFMA's Operations & Technology Society, this annual event brings together subject matter experts to provide valuable information on managing risk and improving processes. Sessions include: what you need to know about US and Global Tax Regulations -- with a focus on 305C, 871(m), and Reclaim Updates; Blockchain and its Impact on Corporate Actions; Regulatory Insights from FINRA, NYSE and Nasdaq; Proxy and Corporate Actions Shareholder Communications Update; and more. Register today!
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SIFMA Ops: Industry changes are bringing new ways to understand customers and markets
When SIFMA hosted its 2017 Operations Conference and Exhibition in Florida, technology, regulation and compliance operations dominated the discussions. Over the last few years, questions on the transformative potential of technology together with the culmination of initial experiments, promising proof-of-concept projects, and analysis of early results have driven the financial services industry to go beyond simply asking what emerging technology can do. As we look forward to Ops 2018, SIFMA's Tom Price notes that today's industry changes aren't just about fintech.
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