Economic giant, New York Stock Exchange, debuts new trading platform, aptly termed a 'cloud'.
New York Stock Exchange Launches Scalable Cloud Platform for Trading Firms
The New York Stock Exchange (NYSE) has entered the cloud computing market with the launch of its Capital Markets Community Platform. This platform, a first in the financial services industry, is designed to offer trading firms lower costs, more resiliency, and broader market access with less complexity, as stated by IDC analyst Michael Versace.
This new platform, which leverages technology from VMware and EMC, is built to handle massive streams of real-time market data with high accuracy and speed. This capability allows firms to react swiftly to price swings and manage risk effectively.
One of the key features of this platform is the elimination of the need for costly infrastructure maintenance for customers. Moreover, it requires no hardware investment, freeing up resources for firms to focus on their core business activities rather than IT maintenance.
The Capital Markets Community Platform is hosted in the stock exchange's data center, ensuring secure data handling with robust encryption and fraud detection. This ensures compliance and protects sensitive information in financial transactions.
Similarly, BT Radianz, the world's leading managed cloud for the financial services community, offers similar benefits. Built on VMware software, with servers from Hewlett-Packard and storage from NetApp, BT Radianz provides a quicker time to market for customers. It grants users access to financial applications and information feeds, and offers services such as low latency trading, regulatory reporting, market and risk analysis.
Both platforms support complex trading strategies and critical exchange systems through scalable, reliable cloud infrastructure. They also offer significant cost savings by shifting from capital expenditure to predictable operational expenses, potentially reducing infrastructure costs by up to 80%.
In addition, these cloud trading solutions offer enhanced accessibility from anywhere globally, enabling global connectivity and collaboration among market participants. They streamline operations by eliminating the need for managing physical infrastructure and improve market data quality with consistent, enterprise-grade access across asset classes and geographies.
Advanced analytics such as predictive models, real-time sentiment analysis, and automated risk management systems are also supported by these platforms, elevating trading performance. They enable high-frequency trading capabilities and scalable computing power, facilitating both novice and sophisticated trading strategies.
Stanley Young, CEO of NYSE Technologies, stated that these benefits translate into market advantage. With the launch of the Capital Markets Community Platform, the financial services industry now has a scalable, cost-efficient, secure, and globally accessible trading infrastructure that enhances risk management, operational efficiency, and the ability to leverage advanced analytics in real-time market environments.
As of April, BT Radianz financial services platform had 15,000 members, demonstrating the growing adoption of cloud platforms in the financial services industry.
[1] IDC White Paper, Cloud Platforms for Trading Firms: Enhancing Risk Management, Operational Efficiency, and Advanced Analytics [2] NYSE Technologies Press Release, NYSE Technologies Launches Capital Markets Community Platform [3] BT Radianz White Paper, Cloud Trading: Unlocking the Power of Financial Markets [4] BT Radianz Press Release, BT Radianz Financial Services Platform Reaches 15,000 Members [5] VMware Blog Post, NYSE Technologies and VMware Partner to Deliver Secure, Scalable Cloud Infrastructure for Financial Services
- By leveraging technology from providers like VMware and VMware-powered platforms such as BT Radianz, finance sector entities can invest in cloud infrastructure that allows for efficient risk management, enhanced operational efficiency, and the integration of advanced analytics.
- Through these scalable, secure, and globally accessible cloud platforms, trading firms can invest in technologies that streamline their operations, lower costs, and provide the computing power necessary for handling complex trading strategies, enabling both novice and sophisticated investing approaches.
