Coronavirus: Cloud-based trading systems may be the best when working from home
Smaller asset managers and hedge funds that went into the cloud for trading may be better off than big banks that spent billions on proprietary server-based infrastructure.
It is Friday afternoon in the third week of March and the head of investment banking apologizes for being late onto the call with Euromoney. “I had to get a new laptop and was on the phone with IT for two and half hours.”
Well, we’ve all been there.
“At least it works now. But then I had to message all the teams,” he sighs.
And how, Euromoney wonders, are his people adjusting to the new world of working under the shadow of Covid-19?
“Well, a lot of deals are being pulled so it’s important to communicate with all our bankers. And almost everyone is working from home right now – that is, except for the fixed income and equity traders. They all still need to be at their desks, of course.”
While the biggest banks could afford secondary back up sites, very few of the asset managers or hedge funds could - Chris Jenkins, Tora
On the next Monday, bang, the City of London goes into lockdown.