Edward Tilly, Cboe Global Markets, said he sees issues with putting exchanges' matching engines in the cloud.
over the course of the next decade. As a result, Friedman said the markets could operate more holistically as opposed to each exchange operating in their own data centers, separated from each other.
The issue with using the cloud to match trades lies in the speed at which the the remote servers could handle the orders. Cloud-based service has more latency than on-premise hardware, said Bryan Harkins, the co-head of markets division at Cboe. In the stock market, where fractions of a second are the difference between millions of dollars in profits, the lag from using the cloud would be disruptive.
As for if Cboe has any plans in place to move data to the cloud, Tilly declined to comment beyond reiterating his belief in where he sees the potential benefits in data storage. Harkins added that the path towards using cloud technology around managing data is much clearer. "Storage, yea, you can certainly cut out a lot of expenses by moving all of your data infrastructure to the cloud," Harkins said.
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