2024 – Vippepunktet for transformasjon av markedsinfrastruktur

"Tradisjonelle utvekslinger globalt er i et kritisk tidspunkt", observerer
Deloittes "2024 Banking and Capital Markets Outlook" rapportere. "Strategiske valg de tar nå kan avgjøre om de fortsetter å vokse - eller til og med beholde - markedsandeler og oppnå høyere fortjeneste." 

Dagens markedsinfrastrukturleverandører må navigere i økt kompleksitet og uforutsigbarhet. Dette presset forsterker i sin tur behovet for å raskt modernisere utdatert infrastruktur og takle teknologisk gjeld.

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 It has become imperative that outdated infrastructure for day-to-day operations is replaced, ensuring the robustness and endurance of the overall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 Legacy providers, in particular, find themselves constrained by outdated technology – from constant project delays and cost concerns, to the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 fersk publikasjon av
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.”

Adena Friedman, administrerende direktør i Nasdaq, er enig, og forsikrer kundene om at en infrastrukturoppgradering kan låse opp år med vekst hvis det gjøres med fremsyn. Men hun også

advarsler: "Å investere i motstandskraft er vanskelig, det kan være dyrt og har lengre utbetalingssykluser ...."

Men er dette alltid tilfelle? Trenger det virkelig å være så vanskelig, dyrt og tidkrevende?

Et enklere alternativ: Skybaserte, kapitalklassede løsninger

Hvis transformasjon håndteres av sky-agnostiske, digital-sentriske teknologileverandører, bør skybaserte, kapitalbaserte løsninger levert via SaaS (med enormt redusert time-to-market) bli normen ved hjelp av rettigheter. 

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 utvekslingen tar fatt på et nytt år, er refleksjon nødvendig: Fungerer teknologien din som en tilrettelegger snarere enn en hindring? Stemmer dine teknologiske evner sømløst med målene dine? Og er de posisjonert for pålitelig 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.

Tross alt er det ikke bare en børs ytelse på linjen, det kan godt være dens overlevelse.

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• kilde: https://www.finextra.com/blogposting/25588/2024—the-tipping-point-for-market-infrastructure-transformation?utm_medium=rssfinextra&utm_source=finextrablogs