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As the financial industry increasingly embraces the cloud, the underlying and often overlooked energy crisis threatens to derail cloud ambitions. SunGard, a hyper-scale data centre and cloud provider, has already fallen victim, and an estimated 16,000 clients are left scrambling in the aftermath. This article explores the underlying cause of rising energy prices, the impact on data centres, the risks to the financial industry, how firms can mitigate risks, and how CJC can help.
Market Data Management: DLT-Powered Digital Contracts
At DKF2024 in Amsterdam, experts discussed modernising market data contracts using smart contracts and automation to address inefficiencies, complexity, and compliance risks. The panel highlighted the shift from paper-based contracts to digital solutions like DocuSign and introduced blockchain-powered smart contracts, which streamline processes, ensure compliance, and enhance transparency. They emphasised the importance of collaboration between technical and commercial teams for improved contract management and cost reduction. A digital contract network (DCN) was presented as a solution to track data usage in real time, ensuring compliance and transparency. Additionally, the fusion of AI with smart contracts can improve decision-making by providing insights into market trends and customer behaviour.
Key points:
- Digital contracts replace paper-based ones, improving efficiency and compliance.
- Smart contracts use blockchain for transparent, automated execution.
- Integration challenges require aligning new technologies with existing workflows.
- Automation reduces operational costs and improves efficiency.
- A digital contract network tracks data usage, ensuring real-time compliance.
- AI can offer insights to optimise decision-making and strategy.
In conclusion, embracing digital solutions, smart contracts, and AI will modernise market data contract management, boosting efficiency, compliance, and customer satisfaction in the financial ecosystem.
| About DRDM Digital Rights for Data Management (DRDM) by Broadhead Technologies, is a CJC-partnered distributed ledger technology (DLT) blockchain solution. The underlying DLT-powered solution marks a first in the market data industry, raising the bar for data management and compliance by removing the ambiguity of market data contracts. It reduces the deployment time needed for new offerings. DRDM protects the data publisher’s rights and revenue while reducing the data subscriber’s required resources and regulatory burdens. |
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