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NYSE announces financial services cloud

Lucas Mearian, Computerworld | June 1, 2011
NYSE Euronext's technology division today announced a cloud services offering for the capital markets community, a product it described as the financial services industry's first cloud platform.

He added, "I could envision a day when we'd plug this into public clouds to consume their services, but we'd provide an aggregation layer on behalf of our community members to get them into other cloud service providers."

The Community Platform is designed to securely process mission-critical financial services tasks, the NYSE said. The Community Platform and its related services are delivered over NYSE Technologies' Secure Financial Transaction Infrastructure.

The Community Platform will provide direct, on-demand access to the entire NYSE Technologies portfolio of services, including Superfeed, a global trading platform providing microsecond data transmissions via a secure network; the Risk Management Gateway (RMG), a low-latency routing engine that allows broker-dealers to provide direct market access to clients, and the NYSE's Managed Services Hub and global Liquidity Center Network.

Charles King, principal analyst at market research firm Pund-IT, said the Community Platform may initially appear to be a "relatively modest affair," but that's deceiving. Considering that NYSE Euronext is the commercial entity that operates global securities exchanges, including the New York Stock Exchange, Euronext and NYSE's Arca electronic trading platform, through which billions of equity shares are traded every day, it speaks to a large community of financial services companies, he said.

"The sheer size and complexity of the trading business NYSE Euronext supports and enables means that the Community Platform could eventually provide daily, ongoing services to hundreds of large scale brokers and investors," King said in a research note.

Initially, the trading data residing in the Community Platform cloud could facilitate everything from testing and validating new trading applications and strategies to processing huge volumes of data for regulatory reports, King said.

Capital Markets Community Platform is also a big win for EMC and VMware, he said. "It suggests that the companies' common vision of private and public computing clouds morphing into hybrid clouds supporting industry-specific data and business processes is coming to fruition," King said.

Michael Versace, global risk research director at IDC's Financial Insights division, said in a statement, "With the inherent advantages of scale, time to market and the nature of on-demand shared financial infrastructure services, NYSE Euronext's cloud platform offers trading firms a range of new capabilities and efficiencies that should lead to lower costs, more resiliency and broader market access with less complexity.

"All of this translates into market advantage," he said. "If these business services continue to evolve and provide value to the market, which we expect they will, we envision a number of similar partnerships and product opportunities coming to the financial services market over the next six to 12 months."


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