News recently broke that Google made a $1 billion investment in CME Group, Inc., which would call for significant change in execution and market data trading infrastructure. The Wall Street Journal spoke with Anova CEO and Founder, Mike Persico, on how firms have historically operated, and his outlook on a new connectivity landscape.
Trading firms currently rely on placing servers in the same data centers as the exchange matching engines. However, with Google’s latest investment all roads point to a transition to the cloud for the world’s largest financial derivatives exchange. Applications would be expected to move over in phases, but not without a sizable reconstruction of the current cloud systems. Financial firms will undoubtedly expect the same equidistant connections and equitable price feed distribution latencies in any future virtual world that they already experience using today’s physical architecture.
Nevertheless, Mike Persico, CEO, Anova Financial Networks is bullish on the move and the opportunities it might afford. “Well-run firms with bright people and a history of innovating will do fine,” he stated.
To read the entire article from The Wall Street Journal, click here.