FX Mythbusters: Cutting through the Cloud


All the big technology firms now seem to be offering Cloud computing services so presumably we don’t need to pick a provider who really understands the FX market?


Good question. I mentioned earlier that some cloud offerings are more comprehensive than others and it will require users to do their homework. Te real decisions should be made taking into account what applications are available on the cloud and what they can do for your business. Cloud provides processing power and cloud native applications provide functionality in a cost effective and efficient manner.


Won’t it be too hard for us to accurately gauge our ROI if we decide to adopt a cloud delivery service for our FX trading applications?


Why should that be the case. Cloud applications are generally priced on a software as a service basis in which the charging is totally transparent. Te same cannot be said of internal IT which is riven with hidden costs.


We run our FX business as well as can be expected in the current economic environment. Why should we treat Cloud computing as an opportunity rather than a threat to our existing profitable trading model?


At the risk of repeating myself I would contend that cloud computing is going to fundamentally change IT delivery not just to banks and brokers but to all kinds of institutions. Banks in particular are going to be massively affected given their huge internal IT focus. Te benefits of cloud computing can be distilled into three areas. Tese are cost, convenience and scalability. Tis will affect core business such as payment processing right through to peripheral areas. Tose that don’t get their IT strategy right to drastically reduce transactional unit delivery costs will over the medium term face not just loss of business in a particular sector but an existential threat across the enterprise. I don’t know whether this adequately answers the question but the cloud is potentially a real game changer. Tose that ignore its impact will almost certainly be marginalised.


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