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/

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

  1. […] “With the new EPA reporting deadline for SPCC of November 10, 2011, approaching rapidly, Locus wanted to offer its current and future customers software to help them meet the deadline and manage the complex reporting requirements the regulation entails. The industry needed a web-based solution for SPCC compliance, and we have delivered one that will ensure that companies can comply with ample time to meet the deadline,” said Dr. Neno Duplan, President and CEO of Locus. Locus designed the SPCC module specifically to meet the oil and gas industry’s needs for managing SPCC compliance. Since Locus’ other software products, such as EIM, have been used for more than 10 years at many oil and gas exploration sites and nuclear facilities nationwide, the system upgrade allows rapid deployment; an unmatched level of integration and functionality; and data security, data validation, and scalability. […]


CloudTweaks Sponsors - Find out more!


Popular

Top Viral Impact

Cloud Infographic: Cloud Public, Private & Hybrid Differences

Cloud Infographic: Cloud Public, Private & Hybrid Differences

Many people have heard of cloud computing. There is however a tremendous number of people who still cannot differentiate between Public, Private & Hybrid cloud offerings.  Here is an excellent infographic provided by the group at iWeb which goes into greater detail on this subject. Infographic source: iWeb About Latest Posts souryaSourya Biswas is a…

2014 Future Of Cloud Computing Survey Results

2014 Future Of Cloud Computing Survey Results

Engine Yard Joins North Bridge Venture Partners, Gigaom Research and Industry Collaborators to Unveil 2014 Future of Cloud Computing Survey Results SAN FRANCISCO, CA–(Marketwired – Jun 25, 2014) – Engine Yard, the leading cloud application management platform, today announced its role as a collaborator in releasing the results of the fourth annual Future of Cloud Computing Survey,…

Are Cloud Servers The Right Choice For Your Business?

Are Cloud Servers The Right Choice For Your Business?

Cloud servers offer power, flexibility, reliability, and client friendly hosting for small and medium businesses that have outgrown shared hosting. New business hosting clients are bombarded with an incredible diversity of different choices for their site’s hosting. It can be a challenge to negotiate the range of platforms and the marketing hype that many hosting…

Cloud Computing Offers Key Benefits For Small, Medium Businesses

Cloud Computing Offers Key Benefits For Small, Medium Businesses

A growing number of small and medium businesses in the United States rely on as a means of deploying mission-critical software products. Prior to the advent of cloud-based products — software solutions delivered over the Internet – companies were often forced to invest in servers and other products to run software and store data. The…

Cloud Infographic: Cloud Computing Growth

Cloud Infographic: Cloud Computing Growth

An excellent infographic provided by AwesomeCloud which predicts a continued high level of growth in the cloud computing industry. Potentially staggering numbers for Public Cloud IT Services of $100 Billion by 2016. Infographic Source: AwesomeCloud About Latest Posts souryaSourya Biswas is a former risk analyst who has worked with several financial organizations of international repute, besides being a…


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.

You can help continue to support our community by social sharing, sponsoring, partnering or contributing to this great educational resource.

Contact

CloudTweaks Media
Phone: 1 (212) 763-0021
contact@cloudtweaks.com

Join our newsletter