The financial industry is at a critical juncture. Exchanges worldwide are exploring future technological landscapes, grappling with frustrations and pain points in current systems

Ever-increasing digitalisation is propelling the world of financial services to act faster and do more than ever before. One side effect of this is the increased risk posed by the failure of critical suppliers. This is the reason EU regulators have introduced the Digital Operational Resilience Act (DORA), which will implement uniform rules for financial entities on operational resilience throughout the EU.

The elections for the European Parliament, held between 6th and 9th of June, could end up significantly impacting capital markets on the continent. This juncture could have the effect of reshaping regulatory landscapes, influencing market stability and altering cross-border economic activities.

I recently attended the DigiAssets Conference in London, which I found very interesting as it focused heavily on the institutional trading space.

We could potentially be seeing a transformative shift in the world of financial markets, as the New York Stock Exchange (NYSE) seems to seriously be considering 24/7 trading

I’ve recently returned from the ConFEAS 2024 conference in Samarkand, Uzbekistan. The location, right at the heart of the ancient Silk Road, together with the conference gathering of international stock exchanges and market actors, perfectly illustrates how modern markets meet the past

The phrase “Nobody gets fired for buying IBM” has been a steadfast mantra in the tech industry, underscoring the inclination to choose established, reliable vendors to sidestep blame when issues arise. Twenty years ago, everyone knew that choosing reputable brands, such as IBM, was the way to go.

A couple of weeks ago I had the chance to visit the Gulf region. In particular, I attended both the Arab Federation of Capital Markets (AFCM) Annual Conference in Qatar, as well as The Capital Market Summit in Dubai.

Ambitious financial exchanges need to keep growing. Yet in the world of capital markets this is not always a straightforward task. Each jurisdiction has its own national characteristics and different way of doing things. If an exchange decides to build its own trading or clearing infrastructure, unless it is happy paying an exorbitant cost, it will typically have to wait a number of years for delivery. So, what are the alternatives for exchanges?

The EU’s Capital Markets Union (CMU) is receiving strong backing, with widespread enthusiasm evident among stakeholders who are optimistic about its successful rollout. A significant concern has been the persistent lack of on-screen liquidity in European markets, dominated as they are by over-the-counter (OTC) trading. This contrasts sharply with the US where, according to the European Central Bank (ECB), 75% of corporate financing is conducted through capital markets, compared to Europe’s reliance on traditional bank loans.

Imagine a scenario in which a large, successful financial exchange is making profits across all its markets alike, from equities, fixed income and derivatives, to commodities and FX. Yet, sadly, this vision is far from reality. Oftentimes smaller and less liquid markets, such as for fixed income and derivatives, find it difficult to obtain the modernisation of infrastructure they need, even when it is just a simple feature request.

The topic of AI has been the subject of a number of panels at recent industry events attended by Exberry. We thought it would be helpful to provide a snapshot of some of the leading thinking on AI, particularly how it is predicted to affect regulated exchanges.

A few weeks ago, along with my colleagues, I attended the WFEClear 2024 Conference in Madrid, which focused on clearing and derivatives. Many relevant topics were discussed in the well-attended event and, specifically, I noted the panel on “Practicalities of DLT and Clearing” explored advancements in distributed ledger technology and its potential intersection with central clearing.

Post-trade processing is an integral part of the financial services industry as it verifies the details of very often instantaneous transactions. Similar to shifts in the rest of the financial services industry, clearing and settlement firms are being influenced by the emphasis of real-time risk management and data-driven decision-making.

A turning point for digital markets is predicted to take place this year, according to a panel at International Futures Industry Conferences which took place in Boca last week. Limited market structure and lack of customization options were cited as reasons why many other assets have not yet been tokenised.

The wide-ranging conversation covered political risk, innovative products and latest technology developments.

As some of the world’s largest financial industry participants gathered in Boca Raton last week, one fact that was hard not to miss was the increasing presence (and sponsorship) of the major cloud providers.

Last week’s well-attended TradingTech Summit London covered a range of crucial topics in the trading technology sector, most notably regulatory trends, technology drivers, market structure and data management.

Exberry offers a cloud-native matching engine platform that enables traditional and alternative exchanges to launch ultra-low latency markets quickly and run them cost-effectively.

When it comes to upgrading legacy technology, without impacting day-to-day operations, financial exchanges are confronted with an incredibly difficult task.

The market cap of exchanges in emerging markets should exceed the value of U.S. exchanges as soon as 2030, according to Goldman Sachs economists

In a world where there’s increasing awareness around spending tech stack budgets – efficiency and agility have become a lifeline for capital markets firms. But where do organisations start in terms of understanding how the transformative forces of innovation can best serve their interests?

Change is afoot when it comes to market infrastructure technology. The old arguments over “buy vs build” have been relegated.

Today’s market infrastructure providers need to navigate increased complexity and unpredictability. These pressures in turn intensify the need to urgently modernise outdated infrastructure and tackle technological debt.

Amidst the backdrop of digitisation and cost concerns, a growing proportion of today’s futures markets are intent on improving their services – whether through updating their technology or developing new markets and products.

Today’s market infrastructure providers need to navigate increased complexity and unpredictability. These pressures in turn intensify the need to urgently modernise outdated infrastructure and tackle technological debt.

2023 represented a challenging year manoeuvring against persistent inflation, higher interest rates and geopolitical tensions. Widely forecast to affect capital markets in 2024 is a slowing global economy, as well as the potential risk of the global economy entering into recession resulting in softened economic demand.

Traditional financial infrastructure providers are increasingly considering upgrading their trading systems to align with modern times. This is both based upon strategic developments taking place over the past couple of years, as well as regulators looking to modernise.

Due to hyper-volatile markets over the past few years, financial exchanges have experienced exorbitant trading volumes and activity. At the same time, however, market infrastructure operators are facing shrinking margins, as well as competition from a more diverse set of participants hungry for cheaper costs and access to trade. How can the next generation of trading technology help market providers flex during these challenging conditions?

It’s been a brilliant year for Exberry. From cloud collaborations, platform enhancements and key additions to the team

The year 2023 provided markets with continued uncertainty against a backdrop of high inflation, high interest rates, ongoing effects of Russia’s invasion of Ukraine, the outbreak of the Israel-Hamas War, and, belatedly, concerns of recession. Yet it’s against this background of economic uncertainty that I see an embryo of change.

With efforts behind the creation of truly global markets for trading carbon dioxide (CO2), carbon credits are poised to become one of the world’s largest assets traded

When I talk about the digital transformation of financial markets, all I see is answers. Answers to our growing climate challenge, answers to maximising operational efficiency in financial services, and answers to reducing risk

Exberry was founded in 2018. Our mission is to empower financial exchanges and market operators with cutting-edge market infrastructure technology and innovative trading solutions

Our methodology for building our advanced trading platform is based on the most up-to-date methodologies and practices to ensure that market infrastructure will always be ahead of the curve

The modern approach to building exchanges demands unique skills absent from the legacy systems prevalent in today’s traditional markets. It not only offers cost-efficiency, but also necessitates a fresh mindset. Exberry’s enterprise-grade, cloud-agnostic, SaaS trading engine has been carefully constructed with modular design and scalability at the forefront to best serve diverse markets, asset classes and geographies.

JLN Correspondent Julie Ros interviewed Exberry CEO Guy Melamed at FIA’s International Derivatives Week (IDX) in June and asked him about the solution Exberry developed on a cloud environment and about its relationship with Amazon Web Services (AWS).

The modern approach to building exchanges demands unique skills absent from the legacy systems prevalent in today’s traditional markets. It not only offers cost-efficiency, but also necessitates a fresh mindset. Exberry’s enterprise-grade, cloud-agnostic, SaaS trading engine has been carefully constructed with modular design and scalability at the forefront to best serve diverse markets, asset classes and geographies.

We’re on the cusp of a new arms race. That is the description given to the phenomenon involving the world’s largest cloud service providers competing to invest into the largest financial exchanges. Last year, Microsoft announced an investment of £1.5 billion in London Stock Exchange Group (LSEG) to provide the exchange with data analytics, cloud infrastructure products, and custom Gen-AI models.

Exberry enables its matching engine customers to access BMLL’s granular venue analytics to understand how their venue compares to its peers.

It is widely accepted that digitised or tokensied securities are the next evolutionary step for capital markets infrastructure. That is, securities that can be defined or created using smart contracts and then transferred and stored on ledgers, which may in some cases be blockchains.

The digital public infrastructure (DPI) model has been a key topic of discussion, and India’s version provides an interesting perspective as to what the backbone of the new digitized economy could eventually look like, writes Magnus Almqvist, Head of Exchange Development at Exberry. In this article, Mr. Almqvist examines how the Indian DPI model, or the so-called India Stack, will affect capital markets, and how infrastructure providers may need to adapt their business models as a result.

The digital public infrastructure (DPI) model has been a key topic of discussion, and India’s version provides an interesting perspective as to what the backbone

In the fast-paced world of capital markets, choosing the right software vendor is crucial for optimizing trading operations and staying competitive. When considering software solutions, market operators can work with an independent software vendor (ISV). In this article, we will explore the pros and cons of partnering with an ISV in the capital markets industry, and why Exberry provides all the advantages, and none of the disadvantages, of partnering with an ISV.

Exberry CEO, Guy Melamed breaks down the steps every exchange must follow to successfully launch an institutional-grade digital asset exchange – from regulation research to technology stack building

In his opening words at the 2023 FIA Boca Conference, CEO Walt Lukken talked at length about the “stone in the pond moment” effect the formation of a Cyber Risk Taskforce will have on the markets.

Magnus Almqvist discusses the Microsoft 4% stake in London Stock Exchange Group (LSEG) purchase announcement and what it means to technological changes that will affect market infrastructures and traditional exchanges

This is transformative news for the industry as it allows securities to be created, processed, and stored on DLT and are equal to any other financial security created by a custodian, investment firm, or regulated market, traded, and kept with a traditional custody organisation today.

The Metaverse and Web3 are all the rage. Some understand it and many don’t, but it doesn’t stop it being a buzzword and something everyone needs to get involved with!

Central bank digital currencies (“CBDCs”) are defined as a digital liability of a central bank that is widely available to the general public. In this respect, it is analogous to a digital form of paper money. In some respects, they are digital tokens, similar to what we all know as cryptocurrency, with the key difference being that they are backed by a central bank.

A lot has changed, but many things remain the same. When Exberry first launched, it was considered a game-changer in the capital markets ecosystem. So we sat down with Ronen Nachmias, co-founder, and CTO, to deep dive into what we build for Exberry and why it is relevant to the ecosystem and climate. Let’s learn more about Exberry.

Nebula by Exberry – The Future of Cloud-Native Exchange & Trading Platforms

When the Exberry team launched the Nebula solution to the public, we knew it was going to be exciting! We just didn’t know how popular the launch would be!