To Boost Cloud Usage, NYSE Technologies Launches Advisory Service

Financial companies have started jumping on the cloud bandwagon in growing numbers. But there are still some industry misconceptions and concerns about the cloud, particularly regarding security.

To address these issues, NYSE Technologies, the commercial technology division of NYSE Euronext, is launching Capital Markets Community Platform Advisory Service, which aims to help market participants discern the functional, economic and security benefits of moving to a cloud environment.

Designed in collaboration with EMC, the consultation service offers customers an operational review that identifies the potential benefits and efficiencies of moving critical applications to the Community Platform's cloud environment, NYSE Technologies said.

The launch of the advisory services comes just over four months after NYSE Technologies, in partnership with EMC and VMware, launched the first capital markets industry-specific cloud platform, the Capital Markets Community Platform.

The enterprise-level platform was designed to provide rapid provisioning of processing power, access to historical market data and temporary compute capacity for real-time testing, according to Stanley Young, CEO of NYSE Technologies.

"In our efforts to continue driving the pace of innovation and our goal of enhancing customer value, we saw the benefit of assisting our clients to develop a more detailed understanding of how our Community Platform can help their business," Young said, regarding the new advisory service. The advisory service reviews three areas: a functional assessment analyzing workloads and applications in the front, middle and back office operations; a trust assessment validating the security, compliance, and risk functions of the Community Platform for an individual client's needs; and an economic assessment providing clarity into specific areas of savings that can be achieved using the cloud platform.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio