Can #CloudComputing unfold a bright future in the #FinancialMarket?
Financial institutions, especially exchanges and independent trading firms, are usually the most cutting-edge group in terms of developing, adapting to and capitalizing on new technology. Is this still the case for cloud computing technology?
Cloud computing technology matured just as the global banking crisis hit a few years ago. This apparently was a bad timing because financial institutions, if applicable, tend to prefer building their private cloud, which is a very capital- and resource-intensive process. On top of the resource draw, changing regulations following the financial crisis also pose additional burden on these institutions and possibly make them hesitate to venture into new technology.
Though financial markets as a group have been slow to get on the cloud bandwagon, each of the three largest US exchanges, NASDAQ, NYSE and CME Group has recently announced its cloud strategy. Even if there is still some doubt of whether a cloud computing exchange can actually work, electronic trading industry certainly sees the potential in taking advantage of the power of the cloud.
As an inarguable leader in the industry, NYSE Technologies will share their view on the marriage between cloud computing and exchanges at the Exchange Technology World Chicago 2012 conference. Mr. Ken Barnes will talk about Will cloud computing be worthwhile for exchanges?