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Now is the Best Time to Move your Market Data to the Cloud

Apr 16, 2020 By Stephane Dubois Categories - Industry Trends

Market Data Executives Working From Home

As most market data executives find themselves stranded at home dealing with homeschooling and remote meeting challenges, they probably ponder which 2020 initiatives they can actually work on. 

Market data projects are hard to complete remotely. Accessing physical terminals is now impossible. Anything involving hardware deployment or colocation facilities work must be postponed avoid putting employees at risk. Playing with the data itself is difficult when many firms still struggle to provide working laptops to their confined employees

Not to mention how futile some of those activities may seem as so many struggle with the sickness or the loss of loved ones.

But the recovery will be coming, and with it the realization that the transition to a market data infrastructure that does not depend on any physical presence is unavoidable. Market data is indeed more valuable than ever, and its flawless delivery in an pandemically volatile market is even more critical. The cost savings will be pretty darn important too.

Our business is 100% cloud-based and we have been pleasantly surprised by all the gratitude our clients have expressed for its resiliency--as if it has not been the case for many other aspects of their business. For instance. AssetMark said, “With all the disruption, it is a genuine comfort that we have not seen any performance hits in our product, thanks to Xignite.”

As firms shift their capital spending from on-premise hardware to cloud there is a set of projects that market data managers should focus on right now and reprioritize for the post-pandemic world, it is the transition of their market data infrastructure to the cloud. 

One particular type of project that can be easily completed from the comfort of your living room, is the optimization and migration of your Bloomberg Data License data to the Cloud.  

Because such migration involves no code changes and no physical or software deployments (thanks to Xignite’s unique emulated APIs), you can complete a PoC in a matter of days and walk away with a good grasp of the savings such optimization with drive (typically 25% to 50%, which based on your spend could amount to millions of dollars).

The actual migration itself can be done remotely. Face-to-face meetings are not needed. All the steps required to complete such migration can be completed in weeks. 

If your Bloomberg Data License spend is significant and spend optimization was on your list of 2020 priorities, email us. It is time to move this project to the front of the queue and get it done. 

Stephane Dubois

Stephane Dubois

Founder and Chief Executive Officer

Named twice to the Institutional Investor's Tech 50 list of financial visionaries and innovators, Stephane Dubois is a recognized financial data industry executive who founded Xignite to Make Market Data Easy. Stephane is a well-known fintech thought leader and is frequently quoted and has spoken at numerous fintech events around the world. 

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