NYSE Euronext brings capital markets cloud to Europe
First Published 17th May 2012
The group's technology division is now marketing the cloud-based platform in Europe after the U.S. launch last year
LONDON - NYSE Euronext's technology division said its cloud-based capital markets community platform would now be marketed in Europe, following on from the launch of the service last year in the U.S.
Ken Barnes, global head of platform services, told Automated Trader that NYSE Euronext was starting to bring in third parties to build applications for the cloud. "It's going to be a multi-year process before we feel like we've arrived. But we've been pleased with what we've achieved so far."
Barnes said there was "definitely some early engagements from application providers" in the algorithmic trading arena. He said he could not yet name which companies these were but that they were involved with analytics and backtesting.
Operating from a centre in Basildon, England, the platform provides access to an NYSE portfolio of low-latency services. It was developed with EMC and VMware.
Barnes said that compared with benchmark competitors such as Amazon and Verizon, NYSE was "right in the middle" in terms of price.
"We're very price competitive on that basis. There are cheaper providers, there are more expensive ones. What we've been gratified by is that when you work with a customer who understands the total cost of ownership, the factors in terms of how you really manage all their needs, including integrating market data, that's where the economic story starts to become very eye-opening."
The NYSE Technologies executive said other providers may offer fix networks, market data feeds or cloud computing, but no one else offered all of them together in an integrated fashion. "That, I believe, is completely unique," Barnes said.