[ I N D E P T H | T H E C L O U D ] should cloud migration succeed the way many predict , become unusable .
As Barrett highlights , some in the market “ are still ordering physical hardware to be deployed in data centres and spending 10s if not hundreds of millions of dollars to roll out physical infrastructure . Those kinds of systems will probably not go live for another five years and by then , I think those firms will possibly be on the wrong side of capital markets technology history . In five years it ' ll likely be too late .”
One key example of a recent venue move to the cloud came last November when Nasdaq completed the migration of their third US forward-looking technological investment has allowed us to seamlessly migrate GEMX to AWS ,” Ferrari added .
It is herein where the importance and influence of venues and exchanges truly lies . The binding fact is that it is a predominant requirement for participants across the market to be able to connect to these entities , whether this be through the traditional methods , or through embracing cloud .
As market adoption continues to accelerate , participants are having to take the notion of an irrevocability around cloud migration into hand . More and more it appears that firms are making cloud a centrepiece of their work , conscious of the interconnectedness between entities , market segments , and key processes .
At risk of missing out , players across the industry have demonstrably had to take note of the liquidity factor , this is no longer a question of merely enhancing offerings but truly being at the forefront of market progression . market to AWS . Nasdaq GEMX , one of Nasdaq ' s six options exchanges , was at the time their largest market to move to the cloud so far .
Speaking to the key empirical considerations , Ferrari explains : “ Clients want minimal disruption during market migrations […] In the last five years or so , Nasdaq , in particular , has been very focused on delivering deterministic markets , which has a business rationale – it means essentially reducing your variance to anything that is essentially known .
“ Nasdaq and our clients have built and modernised the connectivity and hardware necessary to easily access the markets . That
“ Exchanges – like all financial market infrastructure – are critically important , especially within the capital markets space where they tie together the financial services community .”
JOHN KAIN , HEAD OF WORLDWIDE FINANCIAL SERVICES MARKET
DEVELOPMENT AT AWS
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