NYSE Builds a Custom Cloud for Financial Markets

Capital Markets Community Platform aims to aggregate exchanges, broker dealers and buy-side participants.

NYSE Euronext on Wednesday formally announced a cloud computing partnership with EMC Corp. and VMware Inc. intended to allow financial firms to rent computing power and access services through NYSE’s new data center.

The new feature, dubbed Capital Markets Community Platform, aims to aggregate exchanges, broker dealers and buy-side participants through the fast-growing technology trend known as a cloud computing. This platform will allow Wall Street firms to use NYSE Technologies’ servers for tools like historical market data and analytics.

“Doing business the way it used to be done is no longer an option,” Stanley Young, chief executive of NYSE Technologies, said at a press conference on Wednesday.”People can not go back to the business model used three or four years ago.”

NYSE Technologies, a division of NYSE Euronext, generated about $444 million a year in revenue in 2010 and hopes to reach $1 billion in revenue by 2015.

Young didn’t disclose how much revenue he anticipates Community Platform will generate, although he noted NYSE Technologies will launch additional services in the coming months centered around the cloud partnership.

The announcement is part of NYSE Euronext’s broader shift to utilize its new data center in Mahwah, N.J., and offer a range of technology services to a market that has become almost entirely electronic. Last year the exchange shifted all trading systems for its NYSE and Amex equities markets to the Mahwah facility.

Space in the company’s data center is being sold to hedge funds, banks and high-frequency trading firms looking to situate their servers as close to the exchange’s trading engines as possible. The goal for Wall Street firms is to maximize speed in which trading is executed.

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Brian Byrne is the founder and Managing Partner of Dallas based meshIP, a technology services firm offering cloud computing strategies and services. He is an accomplished executive with senior management experience in all facets of the technology, telecom, cloud computing, and SaaS industries. He has proven success in developing, financing and executing strategic plans as well as launching new ventures. His background includes a record of significant achievement in international business development and his credentials include a MBA in Marketing and Management Strategy from the J.L. Kellogg Graduate School of Management at Northwestern University, a MS from the School of Computer Science at DePaul University, and a BBA in Finance from the University of Notre Dame.

He is also the inventor of the patented meshDETECT, Secure Prison Cell Phone Solutions.

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