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ARTICLE · 16 MAY 2017

Benefit-Risk 'Tipping Point' For Cloud Computing Now Passed, Says Financial Trading Body

Pinsent Masons
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A US firm responsible for operating infrastructure that supports financial trading has outlined plans to migrate more of its applications and services into a cloud environment.

United KingdomFinance and Banking
Luke Scanlon
Luke Scanlon

A US firm responsible for operating infrastructure that supports financial trading has outlined plans to migrate more of its applications and services into a cloud environment.

The Depository Trust & Clearing Corporation (DTCC), which already hosts some applications in the cloud, said cloud computing has now "moved past a tipping point" whereby it offers greater benefits and fewer risks to traditional outsourcing arrangements.

Financial services and technology law expert Luke Scanlon of Pinsent Masons described DTCC's move as a sign that the barriers that dissuade many financial firms from utilising cloud-based solutions are diminishing.

"The DTCC, after a period of testing and detailed analysis, have here highlighted that some of the traditional reasoning as to why cloud services present significant risk – such as concerns around security – are no longer valid," Scanlon said.

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