New York Stock Exchange Euronext’s technology division today announced a cloud services offering for the capital markets community, a product it described as the financial services industry’s first cloud platform.
NYSE Technologies said its Capital Markets Community Platform was designed to “increase business agility, simplify market access and reduce trading friction by using rapid on-demand computing resources.”
The platform will offer a range of cloud-based services that will allow NYSE Euronext’s 1,200 broker-dealer clients to purchase the computing power required at a given time so they can focus on their core business strategy rather than complex IT infrastructure design and maintenance.
The Community Platform is in beta testing and is expected to go live July 1. It will offer access to a full range of financial service applications as well as managed services.
NYSE Technologies’ CEO Stanley Young said the service already has several customers, including Millennium Management, Pico Quantitative Trading, and others he could not make public.
“We are very excited to integrate it into our infrastructure and begin utilizing the efficiencies of cloud computing across our operations,” Jarrod Yuster, CEO of Pico Quantitative Trading, said in a statement.