Cloud, AI and Regulations: The Topics on Everyone’s Minds at WFIC 2024 

Last month, Exegy joined the 600+ industry professionals attending the World Financial Information Conference (WFIC) in Austin, Texas. During the event, our team members had the opportunity to explore the issues shaping the financial information industry, sharpen their understanding of the forces changing the competitive environment, and discuss the new technologies making an impact on today’s capital markets. 

Below are some of the hot topics that caught our attention: 

Cloud Capabilities and Infrastructure 

Throughout the WFIC event, many conversations centred around cloud data adoption. More firms are becoming interested in learning how to utilize the service as the industry continues to experience an increase in volumes and bandwidth. Firms are gravitating towards cloud technology for the increased accessibility, scalability and flexible computing power.  

The scalable aspect of cloud data leads to shorter planning cycles and faster adaptation to changing conditions. Additionally, the cloud enhances collaboration by enabling development and trading teams to seamlessly use the same infrastructure.  

Many of the traditional drawbacks of cloud platforms have been addressed by providers, lending to lower, more deterministic latency, and increased resiliency. Firms are turning to the cloud to enable more middle- and back-office applications and improve access to real-time data—further improving the performance of their overall trading ecosystem. 

Artificial intelligence 

Another ongoing topic discussed throughout the WFIC event was AI’s potential to transform the financial industry. New use cases for AI are constantly being explored, such as:  

• Machine models are increasingly used to process enormous amounts of data, detect patterns, and make real-time predictions, improving trading outcomes and risk management.   

• AI agents—software programs capable of interacting with environments, gathering data, and using that information to autonomously carry out tasks— are being used for their ability to reference data searching, providing industry participants with more efficient and faster access to data.  

• Firms are also considering using AI to enhance customer service and using AI tools to help improve client experiences.  

Insights on Regulatory Landscape 

With the EuroCTP (European Consolidated Tape Provider) being introduced to the EU market, many industry professionals are trying to predict how this will change the dynamic of financial information systems. Although opinions are varied, some believe greater transparency and lower costs will be the outcome, while others anticipate issues with inefficiencies and delayed implementation.  

Additionally, with existing frameworks like MiFID II (Markets in Financial Instruments Directive II), regulators continue to apply pressure on firms for greater transparency in trade reporting and data management. 

Final Thoughts 

Our team’s participation at WFIC highlighted the biggest trends forming the financial information industry, from technological breakthroughs like cloud infrastructure and AI to evolving regulations. As trends like these continue to develop, Exegy is committed to staying ahead of the curve by proactively adapting to these changes to ensure our clients stay competitive in a constantly changing marketplace.  

For more information about what events Exegy is attending or to get in touch with our team, contact us.