Abide believes back office data processing can learn from trading reforms
By Chris Thompson, product
director at Abide Financial
Having recently made the move from
'Fintech’ to 'Regtech’ there is a lot
that feels familiar. I cannot help but draw parallels between
the two genres and wonder whether any lessons can be taken from
Most would tell you that Fintech emerged
from the financial crisis in 2008, driven by consumer demand
for lending and a rise of disruptive innovative technology. In
capital markets though, the beginnings of Fintech can be traced
back to the large scale electronification of the exchanges in
the late 1990s. This created the opportunity for technologists
and Independent Software Vendors (ISV) to satisfy the needs of
a then relatively analogue and resistant trading community.
When the London International Financial
Futures Exchange (Liffe) closed for open outcry and the
exchange opened up their Application Programming Interface
(API) to the vendor community, though it seems implausible now,
there was an initial hesitancy to accept that this new world
was here to stay, and represented an advancement. The change
provided a window of opportunity for those firms who could both
provide innovative software services and had the market
understanding to build relevant tools to steer their clients
through the new infrastructure landscape. With banks and
brokers largely preoccupied with the criticality of
transforming back and middle office systems, it was a golden
period for tech start-ups that could offer solutions in this
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