Mutual fund operators are beginning to use cloud services offered by
The mutual fund operators are using the platform to develop and test applications, as well as, in one case, a laboratory for trying out an order management system, said
He declined to name the fund complexes involved. His comments came as he discussed plans to launch an applications and services hub for its
The hub will be located at its
This will make the fourth hub for the
The others are in
It will also be the home of a European edition of NYSE Euronext’s
Overall, the Capital Markets Community Platform, which bills itself as the first cloud computing service aimed at a specific industry, provides direct, on-demand access to high-performance, low-latency services from NYSE Technologies, including its Superfeed of market data, its Risk Management Gateway, its Managed Services Hub, and its global Liquidity Center Network.
The company will hold a launch party in
The cloud platform now has “dozens” of customers, he said, including a range of “smaller” market makers and broker-dealers, as well as asset managers in the hedge fund and mutual fund businesses.
Besides the kind of development and testing that mutual fund firms are using the platform for, broker-dealers are also using the platform for backup services.
Barnes spoke with Money Management Executive at the general membership meeting of the
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