Over time, the market has come to embrace cloud in more and more aspects of trading technology. Processing large sets of data and calculation of computationally intense formulas (or both) are common uses of cloud. While the market may not be quite ready to move every part of the trading cycle to the cloud, market data is becoming more and more mainstream.
Market Data + Cloud Solutions
In fact, somewhat ironically, market data is very fertile “ground” for cloud offerings. Not only are third-party cloud providers continuing to enhance their market data offerings (i.e., Bloomberg, Refinitiv, Xignite), but exchanges are also offering access to data directly via their own cloud services or innovation partners (e.g., CBOE, IEX, Nasdaq). In a post-COVID-19 world, cloud has only become more entrenched in the trading lifecycle across both buy-side and sell-side firms. Even looking back to views from 2019, the growing importance of cloud servicing market data needs is clear.
In fact, almost three-quarters of respondents in our 2019 Market Data Study identified innovation in market data as highly important, with cloud seen as the second most impactful innovation (trailing only slightly behind artificial intelligence).
Read entire blog post by Shane Swanson, Senior Analyst, Market Structure and Technology at Greenwich Associates.