Just recently, Contigo conducted a snap survey around disruptive technologies and I talked with Mr. Tim Rogers, head of Sales and Business Development late last week to find out more. Contigo, he told me, likes to be close to its customers and market, and stay appraised of where they are trying to add value to their business. The survey was an attempt to throw the net a bit wider than its customer base and test views on important aspects of the business as well as to try to add back a bit of value through the report and white paper. Additionally, Contigo’s customer base is pretty broad across multiple segments and tiers in the industry, he told me, so a survey like that helps to reinforce their ideas about what is going on the market and to inform forward product strategy. “For example, renewables are having a big impact. but what does this mean in terms of how people think about that? In this instance perhaps, there is more focus on asset efficiency, increased trading volumes and more algo trading, he said, so does the industry see the same thing?”
I wondered then if there had been any surprises among the results? ”Open APIs,” he said. “We knew that open API’s were important along with increased connectivity, but the level of awareness of these issues and technologies in the survey responses was surprising. The results around cloud was a confirmation and ‘underpins’ what we are already seeing,” he said. “The vast majority of sites that we have installed over the last 2-years have opted for cloud deployment and even larger top tier entities are attracted to the moving out to a managed service.”
So, is the future of the trader one of writing code I asked? “We often see highly skilled Excel developers sitting alongside traders knocking out quick analytics and so on,” he said, “and the survey seems to suggest a trader’s role will shift to monitoring but I don’t necessarily fully agree with it. Very bright people will always find a way to add value and more interesting things to do however.”
On blockchain there is an awareness of blockchain in the industry, even an expectation but from Mr. Rogers perspective, blockchain is just a technology. He sees a role in the prosumer side of things were there may be massive volumes of small transactions, but fundamentally, in trading the process doesn’t change. It is just underpinned by a different technology perhaps.
At Contigo things are going well, he told me. It has been very busy. “It’s an exciting time to be in the business,” he said.
Analysts like Commodity Technology exist to also supply an independent view of business and technology trends and to assess how the two play out. We too are conducting a survey right now on disruptive technologies and would appreciate your views. You can find our survey here.