[ I N D E P T H | T H E C L O U D ]
“ Clients want minimal disruption during market migrations .”
GREG FERRARI , VICE PRESIDENT AND HEAD OF EXCHANGE BUSINESS MANAGEMENT AT NASDAQ
itself . Venues are , as previously stated , core to financial markets activity – it ’ s where a large portion of trades execute , where a large part of market data lives , and crucially , where the majority of price formation happens .
Subsequently , liquidity follows . As venues increasingly shift operations to the cloud , albeit at a measured pace , key players will likely need to follow suit in order to stay involved .
“ Once venues and liquidity are in the cloud , then the ecosystem of market makers who are latency sensitive , liquidity takers and who need to provide a synthesised order book across a range of different venues to distribute liquidity to their end clients , will all need to move too ,” adds Barrett .
However , it appears that the cloud providers themselves are looking through a wider lens across capital markets , as Bhat explains : “ The approach is not ‘ let ' s get them kicking and screaming and drag them to where we want everyone to be ,’ rather it ’ s to observe the market and the ecosystem of providers , participants , makers , leaders in order to slot in where we can to support .
“[…] We ' re here not for the value that ' s going to come in 2024 only . Our investments are thoughtful enough to go farther out to multi decade .”
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