Once More Unto the Cloud, Dear Friends

At Monday's Waters USA conference I had an interesting conversation with DataArt's Alexei Miller. He says that for all the talk about cloud technology, most of it is spurious. I agree.
Everything gets called “cloud” these days, and as a result this homogenized definition has been bent to mean everything from virtualization to grid to platform-as-a-service. As State Street CIO Chris Perretta put it, "Every vendor that comes into our office just says, ‘Cloud!' If they sell you a flashlight, it's a cloud flashlight."
The danger in this is that by bastardizing the definition of cloud, it will take more time to fully tap into all of cloud's glorious potential. As JPMorgan Chase CTO Peter Ahrens put it, "Cloud is an over-hyped term—I know that it drives everybody in this room crazy to hear it—but it's a shame actually because the marketing always comes in advance of the capabilities."
What surprised me most at Monday's conference was how much talk of cloud there was. In addition to two panels solely devoted to cloud technologies, Perretta's keynote address was all about cloud, and cloud was continuously brought up during the CTO roundtable discussion.
So here's a news flash based off that information: Cloud is fully a reality on Wall Street. Shocking stuff, I know.
The years ahead will now be devoted not to whether cloud is appropriate for investment firms but rather what new areas cloud will seep into.
But one thing I would like to see is more clarity around what is and isn't cloud. It's far more difficult to advance something if you don't even have a proper definition.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Asic probe piles pressure on ASX to deliver Chess replacement
But market insiders think late intervention by regulators could even slow down implementation.
Stakes raised for UK bond, EU derivatives tapes after Ediphy clinches win
The pressure is on for TransFICC, Etrading, Finbourne, and Propellant Digital, who are still vying to provide the UK’s fixed income consolidated tape after Esma awarded the EU’s tape to Ediphy and its partners.
Exchange M&A, US moratorium on AI regs dashed, Citi’s “fat-finger”-killer, and more
The Waters Cooler: Euronext-Athex, SIX-Aquis, Blue Ocean-Eventus, EDM Association, and more in this week’s news roundup.
LSEG officially sunsets Eikon
The exchange operator withdrew the platform from its product lineup this week.
Cloud Wars: Are EU and APAC firms really pining for homegrown options?
Waters Wrap: In the wake of tariffs and regional instability, there’s chatter about non-US firms lessening their dependency on the major hyperscalers. Anthony is not buying it.
Bloomberg, MTS expand portfolio trading to EGBs
The platform providers will follow Tradeweb with the extension of the popular credit protocol.
Doing a deal? Prioritize info security early
Engaging information security teams early in licensing deals can deliver better results and catch potential issues. Neglecting them can cause delays and disruption, writes Devexperts’ Heetesh Rawal in this op-ed.
Google gifts Linux, capital raised for Canton, one less CTP bid, and more
The Waters Cooler: Banks team up for open-source AI controls, S&P injects GenAI into Capital IQ, and Goldman Sachs employees get their own AI assistant in this week’s news roundup.