Roger Aitken
Roger Aitken

Cloud Computing Services: meeting more than demand spikes in FX

Whilst it may still be early days in the evolution and adoption of Cloud Computing technology by financial services firms and other institutions, the hype surrounding it may in five years time have dissipated to such an extent that market participants and end users regard Cloud technology as the norm. Roger Aitken investigates how the Cloud Computing model operates and in what ways the pooled resources of an enterprise Cloud design can assist with the delivery of FX trading applications.

Many organisations today appear stuck with legacy applications that are handcuffing them from investing in new technologies and applications to deliver competitive advantage, reduce costs and increase revenues. The scenario might be akin to a crash on the highway waiting to happen, which can only be avoided by investing in modernising applications and retiring older IT systems. Highlighting the nature of problem, recent analysis undertaken by Forrester Research of 562 companies in North America and Europe has revealed that 55% of current IT budgets are dedicated to propping up systems and business processes that are between 10 to 20 years old. Clearly, this is a huge maintenance burden, which is where Cloud infrastructures can play a pivotal role going forward. Change is obviously hard for many organisations, and many reasons are cited for why firms delay IT modernisation. However, as a Gartner paper warned (‘Signs Indicate a Train Wreck is Coming Unless You Modernize IT’), an impending IT...continued

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