Joe Morgan
Joe Morgan

Offering wider market access – Cloud Computing proves well suited to FX

Cloud computing services are widening access to the FX market and helping firms to better integrate front, middle and back-office functions. Joe Morgan examines in what ways use of cloud computing can improve the operational capabilities of trading desks and allow FX firms to fine tune their offering.

First Published: e-Forex Magazine 45 / Forex Technology / October, 2011

Proponents of cloud computing liken it to the evolved model of electricity distribution we have today. It is pointed out that when industry first started using electricity, each business built its own power generating plant. The replacement of this model with a centralised national grid – where electricity is delivered to customers who pay for their usage without having to make an upfront investment or shoulder maintenance costs – is said to be analogous with the cloud. Adherents of the cloud say it is a natural development for consumers and businesses alike to outsource computational services, rather than rely on servers and IT architecture stored in-house.   Cloud Services Kevin Houstoun, chairman of Rapid Addition, a specialist software solutions provider to financial institutions, says a “morphing process” is underway, from banks and trading firms managing IT infrastructure in-house to “sharing everything as a utility”. His view is underlined by research...continued

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