As electronic trading continues to evolve, the value of diverse perspectives has never been more critical.
Recognizing this, the FIX Trading Community’s New York Regional Meeting on January 23 featured a panel titled “Women In FIX: Celebrating Their Journeys and Impact on the Evolution of Electronic Trading,” which convened industry leaders to discuss their experiences, the challenges they’ve navigated, and the opportunities ahead.
Hosted at Accenture’s New York office and co-sponsored by Women in FIX, the panel was moderated by Yulia Kuksina, Global Head of Sales at Markets Media Group. The conversation included Amy May, Executive Director of Electronic Trading at Morgan Stanley; Elizabeth Molash, Associate Director at SS&C Eze; and Saira Shariff, Managing Director at Accenture, covering career growth, diversity, equity, and inclusion (DEI), and the evolving role of FIX in financial markets.
For May, FIX has been central to her nearly three-decade career at Morgan Stanley. “FIX is inescapable when you’re doing electronic trading,” she said, reflecting on her transition from Tokyo to New York during the early days of algorithmic trading. A pivotal career shift came after returning from maternity leave, when she took on vendor management—a role that broadened her exposure to FIX and deepened her understanding of market infrastructure. “That move shaped the way I view not just technology, but how we collaborate across the industry,” she noted.
Molash’s path into FIX was less conventional. “I didn’t really know what I was getting into,” she admitted, recalling her start in a support role at SS&C Eze. Drawn to the technical challenges of FIX troubleshooting, she advanced into roles focused on certification and algorithm development. “It’s funny how sometimes the things you stumble into end up defining your career,” she said, emphasizing the importance of staying open to unexpected opportunities.
Shariff’s connection to FIX stemmed from her leadership in DEI at Accenture. “My involvement with FIX came through DEI,” she explained, highlighting how industry partnerships can drive both business and personal development.
DEI wasn’t just a talking point—it was woven throughout the panel, with Shariff emphasizing that inclusion goes beyond representation. “It’s about creating environments where every voice is heard, where diverse perspectives aren’t just present—they’re valued,” she said.
Molash reinforced the importance of proactive engagement in DEI efforts. “I just try to always sign up for DEI initiatives, make them work with my schedule, and encourage others to get involved,” she explained. Creating spaces where people feel heard is one part of the equation; navigating personal growth within those spaces is another. Reflecting on their own journeys, the panelists shared career advice that shaped their paths. “Bring your authentic self,” May said without hesitation.
She also challenged the long-standing belief that success means excelling in every area simultaneously. “The worst advice I’ve heard is that you can be everything, that you can have it all at once. But the reality is, you don’t have to do it all at once. Choose your path, set defined goals, and over time, you will achieve everything.”
Shariff highlighted the importance of self-advocacy. “You have to advocate for yourself and build relationships with people who will speak up for you when you’re not in the room,” she said, encouraging professionals to cultivate networks of mentors and sponsors. Molash added a practical insight: “If there’s contentious back-and-forth over email or Slack, just pick up the phone. Direct conversations often cut through the noise and build stronger connections.”
The panel also addressed the evolving dynamics of the workplace, particularly in light of shifts brought about by the pandemic. May observed that many firms now have a significant number of new hires, creating knowledge gaps. “Leaders should sit among different teams, not just at the head of the table,” she noted, emphasizing the value of informal interactions for fostering collaboration.
Addressing imposter syndrome, Shariff shared candid reflections. “I used to walk into rooms and think, ‘Am I good enough?’ But then I realized none of my male colleagues were thinking that. So why should I?” May reframed this as an opportunity: “People will remember you. Use that visibility to your benefit.”
Kuksina closed the discussion by reinforcing the panel’s key message: “Diversity isn’t just about representation—it’s about participation.” The Women in FIX panel made it clear that creating a more inclusive industry requires more than just opening doors; it requires active engagement, authentic leadership, and a commitment to elevating every voice.
KYC and Adverse Media Screening: What Risks are Lurking in the Shadows?
By Steve Marshall, Director, Advisory Services, FinScan, an Innovative Systems Solution
In the ever-evolving world of business risks, Know Your Customer (KYC) remains the cornerstone of uncovering reputational and financial harm that may occur in the future. But as information sources become increasingly diverse KYC verification methods might not be enough, and “set it and forget it” doesn’t work anymore. Enter adverse media screening—KYC’s secret weapon for uncovering hidden risks and bolstering your anti-money laundering (AML) defenses.
Adverse media screening is all about avoiding risky business relationships. But it’s not always easy. With the flood of information out there, not only can the initial process feel like finding a needle in a haystack, but continuous monitoring can be overwhelming. Luckily, technology is stepping in to make the process smoother and more effective.
Adverse media screening: shining a light on customer risk
Imagine a customer who passes all the standard KYC checks: ID verified, address confirmed, source of funds seemingly legitimate, etc. Yet, beneath the surface lurks a direct or indirect web of past financial or criminal misconduct documented only in news articles. Adverse media screening steps in, systematically scanning a vast array of sources—news websites, regulatory databases, public records—to unearth negative information that traditional KYC checks might not capture as customers don’t self-report. This may include:
By uncovering such red flags, adverse media screening offers invaluable insights into a customer’s true risk profile, empowering firms to make informed decisions.
Adverse media screening also helps organizations comply with international sanctions regimes, as they may assist in identifying individuals or entities that are in some way related to the customer or transaction. Those individuals or entities may be sanctioned and, therefore, may impact the risk associated with the customer or transaction. Both the Financial Action Task Force (FATF) and the Office of Foreign Assets Control (OFAC) advocate for these searches as an effective approach to managing risks in this domain.
The challenges of adverse media screening
Adverse media screening sounds simple, right? Just check the news for anything shady about a client or a company during onboarding. But in reality, it’s much more complicated. Customers are living organisms, and what might seem fine during initial checks can change as questionable dealings could surface months later.
Here are a few hurdles organizations face:
How adverse media screening strengthens business practices
Addressing these challenges with a strong adverse media screening solution can help organizations spot risks early on, enabling them to proactively detect red flags before they become major problems, as well as facilitating continuous monitoring of clients to catch any emerging risks. Companies are also aided in their compliance efforts, with global regulators expecting firms to do more than just basic background checks. Going beyond compliance, adverse media screening helps companies protect their reputation by steering clear of risky business partners—even if regulations allow them to do business.
Adverse media screening should integrate seamlessly with KYC processes that unveil hidden risks byexposing associations with criminal activity or terrorist financing, allowing organizations to take necessary precautions. These processes should enhance due diligence by providing information that clients themselves don’t provide for KYC verification, ensuring a more comprehensive customer profile. And of course, they should also meet regulatory requirements by emphasizing the need for ongoing monitoring of customers.
Elevate KYC by building trust
A strong KYC program is no longer just about ticking boxes. By incorporating adverse media screening into AML and KYC frameworks, firms gain a powerful tool to proactively identify risks, enhance due diligence, and ultimately, safeguard institutions from financial crime. A robust KYC program with adverse media screening at its core is not just about AML compliance—it’s about building trust and protecting the integrity of the financial system.