Your browser is unsupported

Please visit this URL to review a list of supported browsers.

Asia’s finance sector embraces cloud technology

Demand for data helps drive rapid growth, alongside cost savings and scalability. ICE’s Director - Business Development, Feeds, Leon Liang discusses the latest trends.

#1 Asia’s cloud adoption is growing rapidly. What’s driving the shift, and what does the cloud offer to businesses?

Cloud technology has seen rapid growth in Asia for the last five years. We've seen the financial service industry moving more of their crucial systems onto the cloud. This shift is driven not only by the well-known benefits of cloud adoption like cost savings and scalability but also by other factors. These include the increasing demand for data analytics, access to infrastructure and system expertise, and regulatory and compliance support when expanding businesses or achieving carbon emission targets.

Cloud providers today are expanding their offerings beyond simply providing storage and computing power to customers. They are increasingly focusing on providing "as-a-service" models, such as Platform as a Service (PaaS), Software as a Service (SaaS), and Data as a Service (DaaS). These models offer businesses a range of benefits, including access to pre-configured platforms, software applications, and data management tools. By adopting these models, businesses can focus on their core competencies without having to worry about managing the underlying infrastructure, enabling them to be more agile and responsive to changing market conditions.

#2 What can businesses do to help achieve a successful transition to the cloud?

Depending on the scale of the project, transitioning to the cloud can be a complex process, and businesses need to carefully plan and execute their migration. Some key steps businesses need to consider include:

  • infra and system mapping on the cloud,
  • analysis of your market data and latency needs
  • location consideration: selecting a cloud environment that is close to the targeted business or data source
  • cost consideration
  • and multi-cloud consideration

#3 What differentiates ICE’s Cloud Connect offering in the Asia-Pacific?

ICE Cloud Connect allows market participants to access ICE's low-latency streaming market data through various clouds around the world. By using ICE Cloud Connect, our clients can access critical pricing content from over 600 global sources.

ICE Cloud Connect provides a highly scalable architecture that supports high availability, fault tolerance, and low-latency data delivery, making it easier to handle large volumes of market data and support complex multi-cloud environments. Through leveraging ICE Global Network, which is ICE’s ultra-secure, highly resilient backbone network, ICE Cloud Connect can reduce the data routing latency by delivering streaming market data from ICE’s local data access centers into different clouds. Also, our recent expansion of ICE Cloud Connect into China provides clients from various clouds in the country with a cost-effective solution to access ICE's global streaming market data, helping clients make more informed decisions.