2024 - Vippepunktet for transformation af markedsinfrastruktur

2024 – Vippepunktet for transformation af markedsinfrastruktur

Tidsstempel: 25. januar 2024 kl. 3
Kildeknude: 3084798

"Traditionelle udvekslinger globalt er på et kritisk tidspunkt", bemærker
Deloittes "2024 Banking and Capital Markets Outlook" rapport. "Strategiske valg, de træffer nu, kan afgøre, om de fortsætter med at vokse - eller endda bevarer - markedsandele og opnå højere overskud." 

Dagens markedsinfrastrukturudbydere skal navigere i øget kompleksitet og uforudsigelighed. Dette pres forstærker igen behovet for hurtigst muligt at modernisere forældet infrastruktur og tackle teknologisk gæld.

2024 is the year, I believe, we will bear witness to the much-anticipated tipping point for transformation of market infrastructure. The question now is: How can you ensure that your technological upgrade will be delivered within a timeframe that secures
your competitiveness?

Vanskelige valg

In the rapidly maturing and advanced landscape of trading technology, staying current is no longer optional. It has become imperative that outdated infrastructure for day-to-day operations is replaced, ensuring the robustness and endurance of the overall
technological framework.

Yet strategic choices, particularly concerning market infrastructure technology, are not always straightforward. Legacy providers, in particular, find themselves constrained by outdated technology – from constant project delays and cost concerns, to the
difficulty in implementing new features within their existing systems. The limitations of the old legacy systems are becoming increasingly apparent, especially when reaching their end-of-life date (when a vendor no longer markets, sells or releases that particular
equipment). As such, many exchanges are actively seeking new solutions to modernise their operations and remain competitive in an ever-evolving technological landscape.

En nylig udgivelse af
Oliver Wyman advises: “A wave of high-profile, drastic cost-cutting measures have been undertaken by the leading technology outfits and banks – and market infrastructure groups will not be exempt from economising. That’s why it’s important that market infrastructure
groups emphasise and deliver on sustainable performance improvements, mindful of their longer-term strategic growth agenda.”

Nasdaqs administrerende direktør Adena Friedman er enig og forsikrer kunderne om, at en infrastrukturopgradering kan låse op for mange års vækst, hvis det gøres med forudseenhed. Men hun også

advarer: "Det er svært at investere i modstandskraft, det kan være dyrt og har længere udbetalingscyklusser...."

Men er dette altid tilfældet? Behøver det virkelig at være så hårdt, dyrt og tidskrævende?

Et enklere alternativ: Cloud-baserede, kapital-grade løsninger

Hvis transformation håndteres af cloud-agnostiske, digitalt centrerede teknologileverandører, så burde cloud-baserede kapitalkvalitetsløsninger leveret via SaaS (med enormt kortere time-to-market) blive normen ved hjælp af rettigheder. 

Similar to other industries undergoing digital transformation, modern technology solutions are also becoming accessible for regulated exchanges – solutions that can easily handle, for example, more advanced trading strategies and new asset types. In particular,
these cloud-agnostic solutions still allow for deployment in on-premises setups with low-latency requirements, and across various environments (excluding production), resulting in substantial cost savings.

Previously, a CIO would be tempted to pay obscene amounts of money for what was considered a ‘safe’, albeit legacy-based, provider. Now forward-thinking decision-makers realise they need to change their approach, and are reviewing all available options in
order to ensure competitiveness. 

These forward-thinking decision-makers are asking the following question of their technology providers: Is there a multicloud offering? Can the system handle tokenisation and new asset types? What is the timeframe required for the development of a brand
new marketplace? And can maximum speeds of latency be maintained for high-frequency trading?

Autentiske resultater

In this year of ‘make or break’ for exchanges, I question the naysayers seemingly set against true innovative change. Those vendors who contend that investing in technology is hard, expensive and long, seem to often veer towards strategies that ultimately
delay and postpone change. Who does this really help?

Når udvekslingen tager hul på et nyt år, er refleksion nødvendig: Er din teknologi en facilitator snarere end en hindring? Er dine teknologiske evner i overensstemmelse med dine mål? Og er de placeret til pålidelig levering?

Successful exchanges will be those ready to adopt innovative technologies. An authentic understanding of the complexities involved with modern, digital-first infrastructures is therefore crucial. Furthermore, leveraging SaaS in this instance can mean advancing
your team’s velocity, since implementing this change will improve engagement, retention and elevate your team’s capabilities for agility, thus ushering in a departure from traditional big bang projects.

Det er trods alt ikke kun en børs præstation på linjen, det kan meget vel være dens overlevelse.

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