Harnessing data establishes a feedback loop, for example when there is an auto-response to a request for quote (RFQ), or when executing a trade with no human intervention. Each time that automated task occurs, more data is captured, making the machine ‘smarter’ the next time around and setting the stage for more automation.
Access to data in the cloud can serve as an enabler of technology adoption as firms experiment with new ways to automate. Cloud-based environments make it easier for developers to quickly prototype front office apps that take advantage of readily available machine learning and AI capabilities from the three major public cloud providers. Bloomberg’s choice to create cloud native options for access to market data and other large reference and regulatory datasets is reflective of a broader cloud adoption shift in capital markets.
The availability of, and access to, extensive, reliable data is critical for sell-side trading desks, and it will become more critical. Commercial vendors have raised the bar on data quality, and proprietary data is increasingly seen as a valuable