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We kicked off the new year with Bloomberg’s debut of generative AI news summaries. We also reported on the unanswered questions as DORA took effect, and Oracle’s market data cloud offering. Let’s get to it.
When talking about big cloud service providers, one does not immediately think of Oracle. It is a fact that Oracle executives acknowledge, too. The upside, though, was that it knew the shortcomings of the other clouds—latency and bandwidth—and took steps to deal with that.
The company put a lot of focus into getting the Oracle Cloud Infrastructure (OCI) network right so that the bandwidth and latency it advertises is what customers will get. The London Stock Exchange Group has been working on a project to make its Real-Time Connector (RTC)—a core component of its real-time distribution system—compatible with OCI.
Also, independent consulting and managed service provider CJC, which specializes in real-time market data delivery, was brought in to verify that OCI could deliver the performance and latency needed for RTC to run in the cloud.
“Also, we’ve done testing with customers where we’ve had round-trip from the New York Metro Area to Ashburn—just, again, as an example—back to the New York Metro Area that was around 7–8 milliseconds. So there are a lot of use cases you can support with that type of latency.” – Maurits Blok, Oracle
On January 15, Bloomberg started adding summaries created using generative artificial intelligence to its news stories on the terminal. The three-bullet-point-AI-Powered News Summaries aim to provide key takeaways from stories and save terminal users’ time.
The summaries are designed to serve a range of use cases but essentially allow readers to see the key information in a story quickly and decide whether to read the entire article or to collect key data points or an overview of a company or market sector.
Bloomberg used its own newsroom as a testing ground to ensure journalists deemed the three-point summaries as an accurate reflection of the full stories. Other factors that were included in the evaluation include quality, timeliness, conciseness and completeness.
“We’ve got a strong team that understands how to apply the technology. Our clients are trying to get the most information possible to make the best decisions.” – Adela Quinones, Bloomberg
The European Union’s Digital Operational Resilience Act (DORA) took effect on January 17. Even so, many questions about the significant piece of legislation remain answered. At its core, DORA’s main pillars contain requirements on third-party tech outsourcing, closer oversight of cloud providers, and new operational security measures like penetration testing and outage reporting frameworks.
DORA’s outsourcing guidelines have generated the most attention. One of DORA’s effects is that contracts with information and communications technology service providers be renegotiated. DORA applies to all EU financial institutions, as well as the companies that sell ICT services to financial firms in the bloc.?But not all vendors consider themselves ICT service providers. This ambiguity has led to contractual headaches for banks that rely on DORA’s definitions to make vendors comply with new contracts.
Another challenge involves determining DORA’s reach down the supply chain. EU regulators have yet to confirm their expectations around subcontracting, but the final regulatory technical standards are expected to be published soon, sources say.
It was the year 2021 when Symphony, the financial messaging and collaboration platform, acquired Cloud9 Technologies, a voice solutions and trading turret provider. This was the first of two acquisitions that signalled a new era for Symphony.
Before the acquisition, Symphony and Cloud9 were players in the same comms and collaboration game, but coming at it from different sides. Cloud9’s offering centred around voice communication, while Symphony had been focused on chat.
Now under one umbrella, the opportunity to build “one secure communication platform” where users have optionality in how they communicate became clear. Included in that platform is a verified directory that accurately names and identifies compliant users.
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“Some of the other messaging applications out there, they have billions of users, but you have no idea if it’s actually that person or there’s no authentication.” – Ben Chrnelich, Symphony
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Key dates for your diary
The Sell-Side Technology Awards, June 5 2025
Hosted by WatersTechnology, the Sell-Side Technology Awards?recognize the leading technologies and third-party vendors in their area of expertise, through an auditable and transparent methodology developed and managed by WatersTechnology's senior journalists and Victor Anderson, global content director of?WatersTechnology.
Enter today, entries close March 14, 2025. The in-person awards will take place in New York at the Tech & Data in Financial Markets conference on June 5, 2025.