The Lighter Side Of The Cloud – Data Breach
The Lighter Side Of The Cloud – The Fog
The Lighter Side Of The Cloud – Cold Boot

What NYSE’s Adoption of Cloud Computing Means for the Industry

What NYSE’s Adoption of Cloud Computing Means for the Industry

“Early to bed and early to rise,
Makes a man healthy, wealthy and wise.”
– Anonymous.

All of us, at some point in our childhoods have encountered this maxim, drilling into our young minds the supposed correlation between early bedtimes and physical, intellectual and financial vigor. It’s no coincidence that after writing about the possible physical (as in health) implications of cloud computing (See: Health Care’s Reservations about Cloud Computing ), I am about to present two articles on its intellectual and financial implications. This is the one dealing with the more material of human desires – money.

It’s not that I have not discussed the financial implications of cloud computing before, but they have been from the point of view of reducing expenditure (See: How Cloud Computing Can Save You Money and Saving Money on Rent by Going on the Cloud). This article, however, explores the money-making opportunities afforded by cloud computing in the light of the NYSE’s (New York Stock Exchange) recent love for the technology.

While NYSE’s preeminence in the financial world is well known and “Wall Street” part of the popular lexicon (as the eponymously-named movies clearly demonstrate), let me just state that it is the world’s largest stock exchange by market capitalization of its listed companies at $13.39 trillion as of December 2010. To put things into perspective, the GDP of the entire country is around the same figure. In other words, it is the edifice of capitalism.

On June 1 earlier this month, the technology services arm of the New York Stock Exchange Euronext, the company that operates the NYSE, announced the launch of the Capital Markets Community Platform (CMCP), a service billed as the financial service industry’s first cloud platform. According to Dominique Cerutti, NYSE Euronext president and CEO, the “game-changing” platform will offer electronic trading, market data analysis, algorithm testing and regulatory reporting.

Although there were only two registered users at the time of launch, Stanley Young, CEO of NYSE Technologies, said cloud computing is the future of electronic trading. “I’m going to stick my neck out here. We’ve got 1,200 clients. I’d like to see all 1,200 on the service,” he said. EMC and VMware were the two cloud computing giants who worked with NYSE Technologies to develop CMCP.

The “community cloud” will not be connected to the rest of the Internet, but users will be able to interact with each other, according to Carl Eschenbach, head of cloud systems at VMware. “Cloud computing won’t happen overnight; this is just the next step,” he added. “We’re seeing the first of a wave of these special-purpose clouds,” said EMC President and COO Howard Elias. He said customers will benefit from greater efficiency, control and choice by moving specific workloads to the cloud infrastructure.

Now, coming back to the question posed in the title of the article, “What does this mean for the cloud computing industry?” Personally speaking, I believe it’s a huge shot in the arm for cloud computing. Stock exchanges are very particular of the technologies they use, and understandably so. Considering that average trading volume on the NYSE is more than $150 billion, even a small glitch in a single platform can have disastrous results.

The fact that the largest stock exchange in the world has shown faith in cloud computing as a technology is very encouraging for the industry, especially with all the bad press it has got recently (See: Should You Be Concerned? A List of Recent Cloud Computing Failures – Intuit goes down). With security and dependability being of paramount importance in trading, and these being two important criteria on which cloud computing have been judged harshly in recent times, this decision by the NYSE will potential have far-reaching implications in its universal acceptability.

By Sourya Biswas

sourya

Sourya Biswas is a former risk analyst who has worked with several financial organizations of international repute, besides being a freelance journalist with several articles published online. After 6 years of work, he has decided to pursue further studies at the University of Notre Dame, where he has completed his MBA. He holds a Bachelors in Engineering from the Indian Institute of Information Technology. He is also a member of high-IQ organizations Mensa and Triple Nine Society and has been a prolific writer to CloudTweaks over the years... http://www.cloudtweaks.com/author/sourya/

Sorry, comments are closed for this post.

Popular

The Cloud Above Our Home

The Cloud Above Our Home

Our Home – Moving All Things Into The Cloud The promise of a smart home had excited the imagination of the movie makers long ago. If you have seen any TV shows in the nineties or before, the interpretation presented itself to us as a computerized personal assistant or a robot housekeeper. It was smart,…

Cloud Infographic – Monetizing Internet Of Things

Cloud Infographic – Monetizing Internet Of Things

Monetizing Internet Of Things There are many interesting ways in which companies are looking to connect devices to the cloud. From the vehicles to kitchen appliances the internet of things is already a $1.9 trillion dollar market based on research estimates from IDC. Included is a fascinating infographic provided by AriaSystems which shows us some of the exciting…

Cloud Infographic – The Future Of Big Data

Cloud Infographic – The Future Of Big Data

The Future Of Big Data Big Data is BIG business and will continue to be one of the more predominant areas of focus in the coming years from small startups to large scale corporations. We’ve already covered on CloudTweaks how Big Data can be utilized in a number of interesting ways from preventing world hunger to helping teams win…

How The Cloud Is Changing Disaster Recovery

How The Cloud Is Changing Disaster Recovery

How the Cloud is Changing Disaster Recovery Anyone who is a regular reader of this site will know about the cloud’s numerous benefits. Using the cloud can provide businesses with cost-effective resource usage, rapid provisioning, easy scalability and flexible elasticity – benefits that simply don’t exist when using local on-site servers and services. One of…

Five Signs The Internet of Things Is About To Explode

Five Signs The Internet of Things Is About To Explode

The Internet of Things Is About To Explode By 2020, Gartner estimates that the Internet of Things (IoT) will generate incremental revenue exceeding $300 billion worldwide. It’s an astoundingly large figure given that the sector barely existed three years ago. We are now rapidly evolving toward a world in which just about everything will become…

Recent

Thinking About Doing Business In China? Consider This…

Thinking About Doing Business In China? Consider This…

Doing Business in China? Consider This…  China’s economy continues to outperform both regional and global markets with double-digit growth for the last decade. IDC believes China’s GDP will maintain growth around 7.2% until 2020, allowing GDP to reach US$18 trillion or 17% of the world total. And with a population of over 1.35 billion people,…

Big Tech Trends For The 21st Century

Big Tech Trends For The 21st Century

Tech Trends For The 21st Century When the historians of the future look back on the 21st century, what will they say? Inevitably, the biggest stories in the coming century will be political and environmental – wars, revolutions, and natural disasters always dominate historical memory. But perhaps more than any previous epoch, the 21st century…

The Lighter Side Of The Cloud – Inferiority Complex

The Lighter Side Of The Cloud – Inferiority Complex

By Al Johnson Are you looking to supercharge your Newsletter, Powerpoint presentation, Social media campaign or Website? Our universally recognized tech related comics can help you. Contact us for information on our commercial licensing rates. About Latest Posts souryaSourya Biswas is a former risk analyst who has worked with several financial organizations of international repute,…

Contact Us

Sending
cisco_logo_100x100 vmware citrix100
Site 24x7 200px-KPMG


Contributor Spotlight

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

Branded Content Programs

Advertising