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How the Cloud is Disrupting Post-Trade

Sernova Financial, a cloud-based post trade utility, is just starting its second year and Calypso Technologies has just taken a minority stake in the company.  Sernova and Calypso already had a partnership offering cloud-based clearing services.

The founders of Sernova came from the clearing divisions of top tier banks, where they found the business wasn’t necessarily cost efficient or revenue-generating. So they decided to take post trade services out of the bank and put it in the cloud as a utility.

Jaki Walsh, chief product officer at Sernova, spoke with John Lothian News at the IDX Conference in London this summer.  She said most firms can’t cope with the burden of implementation and maintenance. Having a post trade utility means those burdens are shared.

“I think more firms are looking at cloud-based and utility-shared infrastructure,” Walsh said. “The derivatives market is moving into clearing and clearing is going multi-asset class. It is the future road map. It’s just going to become more diverse and with more independent players taking part for themselves instead of being dependent on third parties.”

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Rudolph is managing editor of John Lothian News (JLN).