Quant Traders That Dominate US Options Market Move in on Europe
The option market makers that dominate US trading are taking a bigger share of volume in Europe.
While the tariff-driven market turmoil in April boosted trading on both sides of the Atlantic, Europe remains far behind. Even with talks about the end of 'US Exceptionalism' and investment flows directed away from the country, Europe lacks the abundant retail demand that drives a robust, relatively transparent options market in the US.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
35 minutes ago
- Bloomberg
Adapt or else? How the sell-side is adjusting to new risks
Among examples, Allright says, are market risk and credit risk capital requirements under the Basel framework. The proposal by the Basel Committee to strengthen banks' resilience to risks was written in 2019, but its introduction has been pushed back repeatedly since then. Banks are unsure when, or even if, they should invest in complying with the rule. There is also a trade-off to be considered – which other compliance project must be deprioritized to provide financial headroom for any new rules? 'Uncertainty of when, or if, a regulation is required adds a risk to a bank, who have to make a decision on how to invest engineering resources to meet regulations,' says Allright. Technology risks Technology itself is adding risks to banking operations. As Bloomberg's Global Head of Sell-Side Product Phil McCabe explained earlier in this report, the advent of electronic trading and automation has compressed investors' fees, hastening the diversification of their portfolios into new markets as they search of better returns. This has brought liquidity to once niche asset classes such as crypto, private equity and structured products Moving into new markets requires investment to develop new complex pricing models and deploy techniques to clean and smooth data. These costs can increase further when there is a requirement to provide portfolio level analytics in a timely manner. Search for innovative solutions Focusing on data and its increasing significance in banking operations: consistent datasets, particularly when used for pricing financial securities, provide banks with reliable informational bases for assessing and addressing emerging risks. Additionally, APIs facilitate connectivity to software and modeling tools, enabling banks to effectively utilise the expanding data pools accumulated by the sell-side on a daily basis. However, as the sophistication of data uses grows, many banks are unlikely to have necessary capabilities in-house to smooth curves and clean data sources as well as accumulate all data sets in a timely fashion, and so they increasingly need to turn to data- and technology-specialist vendors. Mitigation technology Sell-side organizations must consider how to achieve technological transformation to address new risk profiles. Building capacity is one option, but it is costly and requires ongoing updates. This strategy may be impractical if the organization's tech stack is fragmented, and systems are poorly connected. As the speed of technological change and the cost of implementation rise, it has become prudent for banks to outsource these operations. A key to meeting the challenges of the new regulatory landscape is access to consistent data sets and pricing models, says Allright. 'What you [as a bank] don't want to have is a risk solution at the top of the house that's different from a solution that the traders are utilizing, because it's likely they will be looking at different numbers,' he says. In organisations with siloed tech stacks, end users such as traders and compliance professionals, may not be working from single source of truth dataset, or a golden source of their enterprise intelligence. This becomes challenging when different departments may have to report to different regulators with different data sets. Having access to consistent data and pricing models ensures banks can satisfy modern reporting rules because regulators require data transparency and accurate pricing models that can justify the claims and assumptions built into disclosures. An additional reason to seek external support is the ability to connect to data and models in structures such as clouds and APIs, which allows for secure integration of external and internal data and provides organizations with a comprehensive view of their risk exposures. It is of great importance to banks to bring huge volumes of quality data into their systems ready for analysis and querying, says Allright. To that end, Bloomberg has developed tools and technology that allows -banks to access software and infrastructure through the cloud and APIs without the need to for large capital outlays. For instance, Bloomberg's Web Services technology delivers lightweight, industry-standard APIs. These APIs provide banks with flexible access to Bloomberg's software and infrastructure without requiring significant capital investment. 'A lot of investment in the past has gone into hardware on site, but these are machines that are not as flexible and scalable as we move into a new cloud-based computing world,' Allright says. 'We see clients trying to access our set of APIs rather than buy in a fixed product that sits on their desktop because they want to utilize the data and manage the data in different ways increasing deploying their own artificial intelligence – they want to commingle it with their data and create their own IP.'
CNET
37 minutes ago
- CNET
Death to Gmail? Google DeepMind CEO Wants AI to Solve This One Annoying Problem
Google DeepMind CEO Demis Hassabis might have won a Nobel Prize for his work on AlphaFold 2, an AI model that can predict protein structures, but the solution to the problem he really wants to solve still evades him. The problem in question is infinitely easier to grasp and more relatable than Hassabis' work in the field of chemistry. "The thing I really want that we're working on is next-generation email," he said, speaking at SXSW London on Monday. "I would love to get rid of my email." Based on the crowd reaction, it was a popular sentiment in the room, where earlier that day, the former British Prime Minister Tony Blair admitted to sending only one email for the entire 10-year period he was in office. There is some irony to Hassabis' quest. The prize-winning scientist is responsible for developing some of the most complex and sophisticated AI models the world has ever seen, all in aid of working toward cures for diseases that are beyond anything we have access to today. His mission to render email (presumably Gmail?) – an annoyance of our own human invention – obsolete feels like small fry in comparison. But it also exposes the duality of Hassabis' responsibilities at Google. He is, and always has been, deeply committed to pursuing AI for the benefit of humankind. "My personal passion is applying [AI] to the frontiers of science and medicine," he said. At the same time he is beholden to the corporate interests of Google, which acquired DeepMind in 2014. Hassabis always imagined the development of AI to be more of a "scientific-led endeavor," spearheaded by a computer science equivalent to CERN, the famed particle physics lab in Switzerland. But the technology went a different way, becoming commercially viable much quicker than he anticipated. From there, he said, "the capitalist engine has done what it does best." Hassabis almost speaks as though he is separate from the "capitalist engine," but of course he is deeply embedded within it. DeepMind being owned by Google means that as well as pursuing his passion project of curing disease with AI – arguably the most noble use of AI – he must split his attention to ensure Google's AI products, from Gemini to Veo and everything else the company announced at I/O last month are up to scratch in a competitive market. In pursuit of AGI The competition is "ferocious" and it's a hefty work schedule for one man, who says he sleeps very little and doesn't expect to until "we get to AGI," or artificial general intelligence. Along with developing DeepMind's core AI models, and translating them into science, he continues to pursue the development of AGI, or AI that fully matches (or exceeds) human intellectual capabilities. "My feeling is that we're about five to 10 years away," he said. His vision for AGI is that it will unlock a world in which "we can cure many, many diseases – or maybe even all diseases," and "unlimited renewable energy." In some ways, the Google products are stopping off points on the way. One of the reasons DeepMind has built Veo 3, its latest video generation software, said Hassabis, is that AGI needs to have a physical understanding of the world around it. The world models built for Veo 3 are key to this understanding. In turn, these world models will be essential for a breakthrough in robotics, which Hassabis believes is due in the "next few years." While it's sometimes not clear where DeepMind's worthy mission ends and Google's commercial priorities kick in, it's clear that Hassabis is finding ways to make it work for him, and his long-term pursuit of an AGI breakthrough. In spite of the seismic shift he predicts this will cause, even he is skeptical of the hype around AI in the short term. "I mean, it couldn't be any more hyped," he said. "Therefore, it is a little bit overhyped."
Yahoo
40 minutes ago
- Yahoo
Deloitte Launches its Asia Pacific Agentic AI Centre of Excellence to Accelerate Scalable, Trusted AI Transformation
Deloitte launches its Asia Pacific Agentic AI Centre of Excellence, bringing together over 120 AI specialists in the region to help organisations achieve scalable, responsible AI transformation Agentic AI empowers businesses to automate complex processes, reimagine enterprise value chains and unlock new efficiencies through autonomous digital agents that learn and adapt. Deloitte helps clients rapidly boost productivity and efficiency by augmenting their workforce with Zora AI™ by Deloitte, built on NVIDIA AI, enabling rapid deployment of advanced, industry-specific AI agents to drive productivity and innovation. SINGAPORE, June 3, 2025 /PRNewswire/ -- Deloitte has launched its Asia Pacific (AP) Agentic AI Centre of Excellence (CoE), a major investment to help organisations across the region harness agentic AI at scale. The CoE brings together over 120 AI specialists from Asia Pacific and more than 6,000 practitioners across the region already supporting a pipeline of AI implementations valued at over US$1 billion. Closely aligned with Deloitte's Global Agentic Network—which connects delivery centres across North America, Asia Pacific, and EMEA—the CoE leverages Deloitte's alliances and platforms to help clients design, build, and deploy digital workforces at scale. Why Agentic AI Matters for Business Agentic AI marks a step-change in artificial intelligence, enabling AI agents to act independently, orchestrate workflows autonomously, and learn and adapt over time. For businesses, this means: Greater Efficiency: Agentic AI automates both routine and sophisticated tasks, freeing employees to focus on strategic priorities and innovation, while reducing operational costs and bottlenecks. Enhanced Decision-Making: Intelligent agents analyse vast and varied data in real time, providing actionable insights that enable organisations to respond swiftly to market changes and emerging opportunities. Scalability and Adaptability: Agentic AI solutions are designed to handle increasing data volumes and business complexity, ensuring precision and reliability as organisations grow. "At the heart of the AP Agentic AI Centre of Excellence is the belief that industry knowledge must lead technology and not the other way around. What we have prioritised is the pairing of our deep sector understanding with advanced engineering to help clients move beyond experimentation to scale," said Chris Lewin, Deloitte Asia Pacific's AI Leader. What Deloitte's Asia Pacific Agentic AI Centre of Excellence Offers Deloitte's AP Agentic AI CoE combines deep sector expertise with advanced technology, enabling clients to: Leverage Advanced Technology: Through its partnership with NVIDIA, Deloitte assists clients through the Zora AI™ by Deloitte technology stack—an enterprise-ready suite of digital agents capable of autonomously executing business-critical tasks across finance, procurement, sales and marketing, and more with speed and accuracy. Accelerate Transformation: Zora AI agents, built on NVIDIA AI, are optimised for speed, can be rapidly deployed via cloud, and integrate with existing systems. Drive Innovation and Productivity: By harnessing Zora AI, organisations can automate reporting, scenario modelling, data analysis, and workflow management, enabling faster, smarter decision-making and freeing up resources for higher-value work. Ensure Trust and Governance: All solutions apply Deloitte's Trustworthy AI™ principles, ensuring transparency, security, and robust governance to instill confidence in AI-driven outcomes. The AP Agentic AI CoE demonstrates Deloitte's commitment to pairing industry knowledge with advanced engineering, anchored by 180 years of global business expertise, moving clients beyond experimentation to achieve scale. "We are on a path to becoming an AI-fueled organisation, embedding AI into our work and the services we offer," added Rob Hillard, Deloitte Asia Pacific Consulting Businesses Leader. "Our Global Agentic Network and the Asia Pacific Agentic AI Centre of Excellence are critical parts of this journey that is ultimately transforming our business, enabling us to scale our experience and build credibility as we assist clients with their own transformational journeys with speed, precision and creativity." Contact: Kashish SakhraniMedia Manager, Deloitte Asia Pacific Tel: +852 2852 1600Mob: 852 6689 0757Email: ksakhrani@ About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see to learn more. Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which is a separate and independent legal entity, provide services from more than 100 cities across the region, including Auckland, Bangkok, Beijing, Bengaluru, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Mumbai, New Delhi, Osaka, Seoul, Shanghai, Singapore, Sydney, Taipei and Tokyo. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms or their related entities (collectively, the "Deloitte organization") is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. © 2025. Deloitte Asia Pacific Services Limited. View original content to download multimedia: SOURCE Deloitte Asia Pacific Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
