Cloud computing and SaaS on the agenda at City Post-Trade Forum

Cloud computing and SaaS on the agenda at City Post-Trade Forum

City luminaries will gather at the London Stock Exchange later this month to debate the future of back office outsourcing in an era of cloud computing and software-as-a-service technology models in the latest Finextra Post-Trade Forum event.

In the second of a series ofPost-Trade Forum events hosted by the London Stock Exchange and organised by analyst house Biss Research and Finextra, leading industry experts will present the pros and cons of outsourcing versus internalisation for bank operations.

Alistair Reid, formerly COO of Thornhill Investment Management, Dr Robert Davies, senior visiting fellow at Cass Business School and Chris Sims former head of investment operations at Gartmore Investment Management will lead the half-day debate at the LSE's Paternoster Square offices in the heart of the City on 29 September.

Cloud computing and innovations in communications and security systems has introduced the financial services industry to a new outsourced business model. So will financial services firms now be tempted to give up internal IT operations to third parties? Will SaaS become the preferred outsourced solution? With new market changes and new regulations a 'never ending story', should firms revisit the opportunities of a 21st Century outsourced business model?

The debate, closed to the media and conducted under the 'Chatham House Rule', will end with a 'pro or con' show of hands to see where the industry stands on this issue.

The first meeting of the Post-Trade Forum took place in June and attracted a lively crowd of industry experts to a debate on the pros and cons of a single consolidated clearing house in Europe.

Registration for the 29 September Forum is open now.

Comments: (5)

A Finextra member
A Finextra member 02 September, 2011, 18:07Be the first to give this comment the thumbs up 0 likes

This debate is really hot now as FS firms struggle with updating their systems to meet new regulatory demands. The Cloud and SaaS are helpful but people in operations need to understand that the first decision is always the most important. Outsource or not? People think control is an issue and costs will rise but this is not evident in when outsourcing works.

The debate is profound and will test the panel and audience to come up with an industry responce to the question of the day outsource or internalise?  

A Finextra member
A Finextra member 12 September, 2011, 11:48Be the first to give this comment the thumbs up 0 likes

We've been providing in the 'cloud' email hosting and security services to smaller financial services businesses for several years now and have just started offering IM, Group Chat and microblogging with content filtering and archiving as well.

We've got a couple of FS clients in the City of London but it is hard going getting the staff to use the solutions even if the management has bought into the need your (our) services. 

A Finextra member
A Finextra member 12 September, 2011, 12:03Be the first to give this comment the thumbs up 0 likes

It could be a lack of knowladge and a desire to live in the last century but this will change over time. SaaS and the C;loud have a huge role to play in the future of FS and the Post Trade Forum will be pushing to increase awareness of this important development

A Finextra member
A Finextra member 12 September, 2011, 12:07Be the first to give this comment the thumbs up 0 likes

We've asked some hard questions and a lot of it appears to be;

- A desire to continue to use the IT systems they've always used, rather than the system their next employer has in place

- A belief that they own the customers and data not their employer

- Employers not wanting to risk to alienating 'big hitters' by forcing them to use the IT systems they have in place

I believe the latter is changing due to the financial downturn, these big hitters aren't finding it so easy, and regulation tightening up transactions and holding company directors to account.

Still a way to go though.

A Finextra member
A Finextra member 12 September, 2011, 12:24Be the first to give this comment the thumbs up 0 likes

Sounds so familier. Your right the economic situation will be a very big motivator and challenge the desire to retain legacy. So far many have said thar security is a stumbling block but this has proved wrong in the past with web useage and will do so again with the Cloud

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