Banking / Finance

Open Platform: The Challenges and Opportunities of Big Data in Finance

30th Nov `13, 04:54 AM in Banking / Finance

With data volumes tripling and trading speeds now faster than ever, many financial services companies are struggling to…

BDMS
Guest Contributor
 

With data volumes tripling and trading speeds now faster than ever, many financial services companies are struggling to monitor their trading activity and react in a timely manner to warning signs. One of the biggest fears for the financial services industry is messy outages or performance degradation on critical trading systems. In this worst-case scenario, firms can go out of business, or experience major revenue and reputational damage (a single server cost Knight Capital more than $400 million in 45 minutes, while Goldman Sachs’ options desk is rumored to have lost almost $100 million in 15 minutes).

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