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Chicago, IL - On September 17th at a ๐๐ต๐ถ๐ฐ๐ฎ๐ด๐ผ ๐ฅ๐ฒ๐ด๐ถ๐ผ๐ป๐ฎ๐น ๐ ๐ฒ๐ฒ๐๐ถ๐ป๐ด of the FIX Trading Community, Andrew Simpson of Trading Technologies led a lively panel with with participants from ๐&๐ ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ, ๐ฆ๐๐ผ๐ป๐ฒ๐ซ, ๐๐ฆ๐๐, and ๐ง๐ผ๐ฟ๐ฟ๐ฒ๐ฏ๐น๐ฎ๐ป๐ฐ' very own, Mark Aguilera, on how AI is reshaping financial markets. From adoption strategies and build-vs-buy decisions to trust, regulation, and execution use cases, the discussion highlighted both the opportunities and challenges ahead.
The panel opened with a candid exploration of AI adoption strategies, where participants shared their current stage of implementationโranging from cautious experimentation to full-scale integration. A key tension emerged between fear and opportunity, with some firms embracing a pioneering stance while others preferred a more measured approach. Panelists debated whether the primary value of AI lies in productivity gains or revenue growth, and how those benefits are being realized in practice.
The conversation then shifted to the build-vs-buy dilemma, especially in light of AIโs rapid evolution. Experiences varied, but there was consensus that agility and scalability are critical in deciding whether to develop proprietary solutions or leverage external platforms. AIโs role in product and service decision-making was also highlighted, with firms increasingly using AI to inform strategic choices.
On the regulatory front, the panel tackled the challenge of building trust in AI systems. Concerns about hallucinations and model reliability prompted discussion on transparency, auditability, and the need for robust data standards. Panelists agreed that regulators must be assured of system integrity, especially in high-stakes environments.
The panel also explored execution use cases, including RFQ/IOI processes and Transaction Cost Analysis (TCA). While AI shows promise in streamlining workflows, there was debate over whether human oversight will remain essentialโparticularly in high-touch scenarios. Some argued that AI could eventually reduce the need for manual intervention, while others emphasized the irreplaceable value of human judgment.
Finally, the panel addressed the slow pace of AI adoption in financial services, citing a recent MIT report that found 95% of AI projects fail. Panelists reflected on common pitfallsโsuch as poor scoping, lack of stakeholder buy-in, and inadequate data infrastructureโand offered practical advice: start small, align projects with business goals, and foster cross-functional collaboration.
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In a second panel, Don Byron ofย ๐๐๐ย moderated a dynamic panel featuring voices fromย ๐๐ฏ๐ผ๐ฒ,ย ๐ฆ๐๐ผ๐ป๐ฒ๐ซ,ย ๐๐ฟ๐ฒ๐๐ฐ๐ฒ๐ป๐ ๐๐ฎ๐ ๐๐ฎ๐ฝ๐ถ๐๐ฎ๐น, andย ๐๐น๐ผ๐ฏ๐ฎ๐น ๐ฆ๐ถ๐ด๐บ๐ฎ ๐๐ฟ๐ผ๐๐ฝ. The conversation explored how market participants are adapting to evolving market structure, the role of innovation in execution, and the balance between regulatory expectations and client needs.
We would like to thank the FIX Trading Community and Trading Technologies for hosting this event as well as all of the panel participants. Stay up to date with more FIX Events here.
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