Nasdaq and Celent Publish Global C-Suite Study on Capital Markets Infrastructure Technology
Report explores C-Suite mindset on R&D, adoption of new business models and technology spe
NEW YORK and STOCKHOLM, Sweden, June 26, 2018 (GLOBE NEWSWIRE) -- During its biennial Technology of the Future conference in Stockholm, Nasdaq Inc. (Nasdaq:NDAQ), in collaboration with Celent, today revealed the results of a new study of market infrastructure (MI) senior technology and strategy officers that uncovered three important trends: the factors that are driving changes in market infrastructure, how MIs are using technology to support business strategies and how technology spend is evolving.
The report was conducted through in-depth discussions with C-suite executives (including CEOs, COOs, CTOs, CIOs and Heads of Strategy) representing 20 different MI organizations across North America, Europe, Middle East, Asia, and Latin America.
"As market infrastructure operators, our economies are reliant on us to provide a seamless ability for buyers and sellers to come together in a fair environment, find the right price, and trade instantaneously. Technology is the lynchpin of this ecosystem," said Brad Peterson, Chief Technology & Chief Information Officer, Nasdaq. "Our study has shown that nearly all executives interviewed worldwide are looking across borders and embracing the global interconnectedness of our markets. They are tapping technologies such as cloud, APIs, and machine intelligence, while also recognizing the inflexibility and limitations of legacy systems in achieving goals around business expansion and technology scalability. We believe this is a welcomed step in the right direction for the health and longevity of our economies."
"The market infrastructure providers that will stay relevant in the digital age must be agile and flexible players that are not afraid of change," said Josephine de Chazournes, Senior Analyst at Celent and co-author of the report. "They have to be able to reinvent themselves in adjacent businesses, and grasp opportunities even if they are not in their DNA."
"The promised land of digitized capital markets infrastructure does not come without new risks - cyber risk is already a big concern, while money laundering, fraud, and market abuse risks are growing," said Arin Ray, Senior Analyst at Celent and co-author of the report. "It will take industry wide efforts to mitigate the risks."
The key takeaways from the study include:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/89d2c87d-0428-4c8a-94a9-e5d4c278069b
Technology is playing an increasingly important role in supporting growth plans. From 10% to 50% of MIs' technology budgets is spent to change the legacy technology and innovating vs. 90% to 50% for the maintenance of systems. The bigger the player the more already amortized are the maintenance costs and thus the split tends to be closer to 50%-50%.
Data and analytics are becoming major revenue drivers, and all MIs surveyed are transforming data management practices with plans to offer new data solutions and delivery options such as data-as-a-service. The next goal is to develop advanced analytical tools with AI and machine learning (ML) to create new solutions for investment decision support, risk management and compliance.
- There is tremendous interest in adopting new technology such as cloud, artificial intelligence (AI), machine learning (ML), and distributed ledger technology (DLT) because they can help develop innovative solutions, new business models, and contribute to significant operational improvements. New solutions are being developed with of one the new technologies (open architecture, cloud enabled, and/or application programming interfaces (APIs)), or at least with provisions to easily incorporate them in the future by 95%of market infrastructures surveyed.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ab9b7f2f-093c-481b-b2cb-3c87c489d597
Cloud adoption is becoming mainstream for all participants in our discussion except only one, with 40% already using cloud in some (non-core) functions, and an additional 45% working on pilots. Many large players are finalizing their cloud partners and strategies, and smaller players expect their vendors to deliver the promises of cloud to them. Data privacy and sovereignty issues are a challenge for some players, and clearer regulations and industry standards will be needed for expediting cloud adoption for production data.
Artificial intelligence is gaining prominence with leading MIs developing advanced analytical offerings with AI and ML and leveraging the cloud. It is also being used in operations, especially in risk management for surveillance, fraud, and cyber-risk monitoring. Data management and model governance issues can be challenging for some MIs in adopting AI, and many are using AI-enabled solutions from leading international vendors. In the study, 35% of all institutions mentioned they are already using AI, and an equal share working on pilots. On the other hand, robotic process automation (RPA), which is a simpler and more cost-effective technology to automate manual processes, is widely used, and its adoption is growing - 70% of discussion participants mentioned they are already using RPA.
Distributed ledger technology promises to be transformative, especially in post-trade market infrastructure, and almost all players are involved in DLT development projects through partnerships, joint ventures, and industry consortia. Numerous use cases of DLT are emerging in peripheral functions. Because it is still a new and complex technology, not every MI is able to experiment with it individually, but 70% of MIs in the study sample are involved in accelerators, pilots, or industry consortia.
Market infrastructure players are increasingly looking for third party solutions because they are cost effective, and compliant with the latest standards and regulations. In core MI functions, there is growing preference to buy and customize third party solutions instead of reinventing the wheel.
- Cyber-risk is the biggest concern for market infrastructure providers. Indeed all the respondents cited it as such. As MIs engage more with third party providers and fintech startups, everyone in the ecosystem must improve their cyber-security measures, because the system is only as strong as its weakest link. Despite growing recognition of the risks, few are taking concrete steps to address them. It will take industry-wide efforts to overcome these challenges because the new risks will be hard to mitigate by acting in isolation.
To download a copy of the study, please visit here.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion.
Celent is a research, advisory, and consulting firm focused on financial services technology. We help our Clients make better decisions about technology. Celent publishes research identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally-based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a division of the Oliver Wyman Group, which is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC).
For Media Inquiries:
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Immunicum AB (publ) Announces Appointment of Pawel Kalinski and Inge Marie Svane to Scientific Advisory Board17.9.2018 08:00 | Pressmeddelande
Press Release 17 September 2018 Immunicum AB (publ) Announces Appointment of Pawel Kalinski and Inge Marie Svane to Scientific Advisory Board Immunicum AB (publ; IMMU.ST) announced today the appointment of leading oncology experts to its Scientific Advisory Board with the addition of Pawel Kalinski, MD, PhD, Vice Chair for Translational Research within the Department of Medicine at Roswell Park Comprehensive Cancer Center, and Inge Marie Svane, MD, PhD, Professor, Head of the Clinical Cancer Research programme, Faculty of Health Sciences, University of Copenhagen, Director, Centre for Cancer Immunotherapy (CCIT), and consultant in Oncology, Herlev University Hospital. Both Scientific Advisory Board members will serve as a strategic resource to Immunicum as the company continues to advance the clinical development of its lead product, ilixadencel. "We are honored to have such highly specialized experts in the field of immuno-oncology and cell therapy join our Scientific Advisory Board a
Immunicum AB (publ) meddelar att Pawel Kalinski och Inge Marie Svane har valts in i det vetenskapliga rådet17.9.2018 08:00 | Pressmeddelande
Pressmeddelande 17 september 2018 Immunicum AB (publ) meddelar att Pawel Kalinski och Inge Marie Svane har valts in i det vetenskapliga rådet Immunicum AB (publ; IMMU.ST) meddelade i dag att två ledande immun-onkologiska experter har valts in i bolagets vetenskapliga råd för att fungera som strategiska resurser för Immunicum under bolagets fortsatta kliniska utveckling av sin ledande produkt, ilixadencel. Pawel Kalinski, MD, PhD, vice ordförande för translationell forskning vid den medicinska institutionen vid Roswell Park Comprehensive Cancer Center, och Inge Marie Svane, MD, PhD, professor, chef för det kliniska cancerforskningsprogrammet på medicinska fakulteten vid Köpenhamns universitet, chef för Center för cancerimmunterapi (CCIT) samt överläkare inom onkologi, Herlevs universitetssjukhus har valts in i rådet. - Vi är hedrade att ha experter med specialistkompetens inom området immunonkologi och cellterapi i vårt vetenskapliga råd, vilka kan erbjuda ytterligare vägledning när det
Hoylu AB: HOYLU HIRES NEW CTO, SATOSHI NAKAJIMA AND ANNOUNCES EXPANSION INTO JAPAN14.9.2018 08:30 | Pressmeddelande
Malmo, Sweden, September 14, 2018 - Hoylu, a leading enterprise collaboration company, announced today Satoshi Nakajima will join Hoylu in the newly created position, as Chief Technology Officer and President of Hoylu Japan. Nakajima will guide the strategic technology direction and innovation of Hoylu while also leading the new Hoylu office in Tokyo, Japan. "Satoshi is a visionary and world-class technologist who has substantial experience in delivering world class innovations. He is joining the Company as we are extending our reach and expanding into Japan," said Stein Revelsby, CEO. "Satoshi's extensive experience in strategy and delivering technology that support a great user experience will make an immediate impact on the company." Nakajima will serve as President of Hoylu Japan and will report to Stein Revelsby. His leadership will strengthen customer relations and help develop new business among emerging and established Japanese companies while strengthening the global position
Hoylu AB: HOYLU ANSTÄLLER SATOSHI NAKAJIMA SOM NY CTO OCH EXPANDERAR TILL JAPAN14.9.2018 08:30 | Pressmeddelande
Malmö, Sverige, 14 september 2018 - Hoylu, ett ledande företag inom samarbetsmjukvara för företagsmarknaden annonserar idag att Satoshi Nakajima tar anställning som CTO (Chief Technology Officer) och President för Hoylu Japan. Nakajima kommer styra den strategiska inriktningen för företagets produkter och leda innovationsarbetet. Han kommer också leda Hoylus nyöppnade kontor i Tokyo, Japan. Satoshi är en visionär teknologiexpert som har stor erfarenhet av att skapa innovativa lösningar. Han kommer till Hoylu samtidigt som vi utökar marknaden till att även täcka in Japan säger Stein Revelsby, VD. "Satoshis långa och gedigna erfarenhet i strategiska frågor och tekniska lösningar med fokus på användarupplevelse kommer få stor betydelse för oss." Nakajima kommer även att bli President för Hoylu Japan och kommer rapportera till Stein Revelsby. Hans ledarskap kommer stärka existerande kundrelationer och utveckla nya affärer på den japanska marknaden och samtidigt bidra till att flytta fram p
LeoVegas AB: LeoVentures invests in esports betting - Pixel.bet13.9.2018 08:45 | Pressmeddelande
The LeoVegas Group, through its wholly owned investment company LeoVentures Ltd, has acquired 51% of the shares in Pixel Holding Group Ltd, which runs the esports betting operator Pixel.bet. The investment amounts to EUR 1.5 million for 51 percent of the company and is made through a new issue. Pixel.bet's vision is to create the greatest gaming experience in betting on esports www.pixel.bet "Esports is an international and fast-growing area that engages millions of viewers and players every month. With this investment in Pixel.bet we as a Group will gain unique insight into a new and fast-growing segment," comments Gustaf Hagman, LeoVegas' Group CEO and co-founder of LeoVegas Mobile Gaming Group. "In Pixel.bet we have found a passionate team of entrepreneurs who come from the esports community. With its strong technology and mobile-first gaming experience, Pixel.bet is a perfect match for the LeoVegas Mobile Gaming Group. Together we will drive development for the absolute premier exp
LeoVegas AB: LeoVentures investerar i esport betting - Pixel.bet13.9.2018 08:45 | Pressmeddelande
LeoVegas-koncernen har, genom sitt helägda investmentbolag LeoVentures Ltd förvärvat Pixel Holding Group Ltd, som driver esport betting operatören pixel.bet. Investeringen uppgår till 1,5 miljoner euro för 51 procent av bolaget och görs genom en nyemission. Pixel.bets vision är att skapa den främsta spelupplevelsen inom betting på esport www.pixel.bet "Esport är ett internationellt och snabbt växande område som engagerar miljontals tittare och utövare varje månad. Med investeringen i Pixel.bet får vi som koncern en unik inblick i ett nytt och snabbt växande segment.", säger Gustaf Hagman, Group CEO och co-founder av LeoVegas Mobile Gaming Group. "I Pixel.bet fann vi ett passionerat entreprenörsteam som verkligen kommer inifrån esport communityn. Med en riktigt bra teknik och spelupplevelse utvecklad mobile-first är det en perfekt match med LeoVegas Mobile Gaming Group. Tillsammans ska vi driva utveckling för den absolut främsta upplevelsen inom esport betting.", säger Robin Ramm-Ericso
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum