Top 5 Broker-Dealer Technology Challenges Crushed by the Cloud
First Published Saturday, 3rd March 2012 02:31 pm from Xand : Peter Curley
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alt="" width="150" height="200" />Today's broker-dealers face
an uncertain future with a highly competitive marketplace, lower
trading volumes, and the prospect of dramatically more stringent
regulation. In this challenging environment two themes remain
constant: 1.) the need to offer superior customer service; and
2.) the need to control costs. The adoption of an on-demand
market data cloud instantly benefits broker-dealers because it
allows them to focus on what is important by addressing the top
broker-dealer technology challenges.This post is the first in a
multi-part series that describes the top 5 broker-dealer
technology challenges all dispatched by the market data cloud. In
subsequent posts we will examine each of these broker-dealer
technology challenges in greater detail.
Responding instantly to new
regulatory reporting requirements
regulations have saddled broker-dealers with costly reporting and
compliance requirements. Frequently these onerous requirements
are made more challenging by inflexible reporting systems and an
inability to quickly access accurate market data. An on-demand
market data cloud allows broker-dealers to quickly respond to
these new requirements and enrich their
reporting with multi-asset class market data.
Broker-Dealer Technology Challenge #2
Delivering enhanced transparency to clients with
In these volatile times
your clients demand a deep understanding of risk and exposure. A
market data cloud allows broker-dealers to offer a level of
transparency that only real-time multi-asset class reporting can
provide. Quickly add this capability and give your client base
the insight they demand.
Technology Challenge #3
services by providing mobile access
Differentiate your services by offering your clients
mobile apps. Allow them the flexibility to view and act on
critical information wherever they may be. Market data accessed
via cloud APIs is the ideal solution to quickly
power all of your iOS, Android and HTML 5 mobile apps, without
the inconvenience of traditional market data feeds.
Broker-Dealer Technology Challenge #4
Focusing on customer service, not data
In today's competitive environment
broker-dealers need to be laser-focused on servicing their
clients. Distractions such as compliance, regulatory reporting,
and rapidly changing technology requirements have all served to
distract broker-dealers from their core mission of providing
superior service. With an on-demand market data cloud all of the
headaches involved with building and maintaining a market data
infrastructure are instantly removed.
Broker-Dealer Technology Challenge #5
Reducing the cost of market data
Everything is now on the table when it comes to
controlling cost. A large and increasing proportion of a
broker-dealer's annual expenditure is spent on market
data. This cost is comprised of both the actual data and the
infrastructure cost. Broker-dealers can significantly reduce cost
by moving to an on-demand consumption model, and by replacing
their in-house infrastructure with a market data cloud.