FOREX TECHNOLOGY
on the Savvis cloud. Wallstreet FX off ers alerts for management and compliance offi cers to help facilitate regulatory compliance. A variety of limits can be set to allow clients of Wall Street Systems to manage trading activity, limit positions, and reduce risk. “T is [type of solution] is the highest growth area. A lot of banks are moving to this type of deployment model. It enables us to deploy to customers in places like Frankfurt very easily because our customers do not need to host it in- house,” says Cresswell.
Data controls Neil Cresswell “It is compute power that you don’t need
every minute of every day. You might need it for a few hours or a few days or a few weeks. Now if you
have to buy that and install it yourself and run it manage it – a lot is going to be wasted.”
to measure risk continues to mushroom, the extensive network of a global managed services provider can help FX market participants complete the myriad amount of risk calculations needed in an age of “big data”. “As the world’s population of data explodes – popular myth will have you believe that it is doubling every year – manipulating that amount of data, either for trading or compliance purposes becomes a big job,” says Cresswell. “We can help fi rms manipulate and analyze those huge amounts of data that they need to handle now.”
Cresswell says the biggest area where cloud-based services have been deployed among FX market participants has been in risk. “We run a lot of big cloud and grid compute platforms for banks and trading companies who want to run scenarios and who want to do risk modeling exercises on quite large amounts of data. Some of those require a lot of compute power,” says Cresswell. “It is compute power that you don’t need every minute of every day. You might need it for a few hours or a few days or a few weeks. Now if you have to buy that and install it yourself and run it manage it – a lot is going to be wasted.”
For example, Wall Street Systems, a provider of treasury, trading and settlement solutions, migrated its Wallstreet FX into a software as a service (SaaS) solution, hosted
110 | april 2012 e-FOREX
Cresswell says Savvis’s position as a global IT infrastructure company which provides co-location and proximity hosting services to a wide variety of fi nancial markets participants, as well as hosting the matching engines and trading infrastructure of key FX platforms and venues, makes it acutely aware of the security and compliance procedures written into fi rms’ core infrastructures. Cresswell says this leaves Savvis well-placed to provide cloud-based solutions that can off er FX market participants better operational control of their risk and back-offi ce activities.
“Part of the equation is complying with risk and compliance policies and most people have policies that require them to have very strict controls over their data and privacy and access to their systems and data and
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