FinanceFeeds Podcast: Adaptive CEO discusses cloud migration for brokers
In a recent episode of the FinanceFeeds Podcast, hosted by Editor-in-Chief Nikolai Isayev, Matt Barrett, CEO and co-founder of Adaptive, shared his insights on the inevitable shift of brokers to public cloud infrastructure. Adaptive is well-known for its open-source technology and expertise in creating bespoke trading solutions and helping firms migrate their front-office operations to the cloud.
Barrett detailed his journey from a software engineer in New Zealand to founding Adaptive in 2012. The company focuses on building institutional-grade systems for brokers, exchanges, and market operators, using a bottom-up approach with open-source software tailored for the financial services sector.
A key topic of discussion was the mass migration of trading systems to the cloud. Barrett highlighted the economic, performance, and scalability benefits driving this shift. He noted that Aeron, a high-performance, low-latency messaging protocol acquired by Adaptive in 2022, is particularly well-suited for cloud environments.
Addressing common security concerns, Barrett asserted that modern cloud providers offer robust security measures comparable to traditional data centers. He also pointed out the engineering advantages of cloud infrastructure, such as access to the latest CPUs designed by cloud providers.
The conversation included several case studies showcasing Adaptive’s work with clients like ADSS, Tradu (FXCM), EDX Markets, and Kepler Cheuvreux. Barrett described how Adaptive helped these firms build and deploy innovative trading platforms, often leveraging cloud-native solutions.
Reflecting on broker technology decisions, Barrett noted a disconnect between business strategy and technological advancements. He explained that many brokers undervalue the importance of owning their technology stack, which can offer greater customization and control.
Looking ahead, Barrett advised brokers to prepare for rapid changes in the market, driven by regulatory shifts, geopolitical events, and new asset classes. He emphasized the need for agility and frequent, smaller bets rather than large, long-term investments.
Barrett concluded by stressing that cloud migration should be seen as a strategic enabler rather than just a technological upgrade. This perspective can unlock significant business outcomes.
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