HUAWEI CLOUD, Making Securities Brokerage Companies More Agile and Cost-Efficient
Aug 31, 2018 GMT+08:00
The HUAWEI CLOUD & Security Compliance Event for Securities Brokerage Companies was successfully held in Hong Kong on August 31. Experts from PwC, HUNDSUN, AASTOCK, China Mobile International (CMI), and HUAWEI shared their insights on how cloud can help securities brokerage companies become more agile and cost-efficient than ever before while staying fully compliant with HKMA and SFC cybersecurity requirements.
Kok-Tin, partner in PwC's cyber security & privacy, talked about HKMA cybersecurity guidelines in outsourcing on the cloud platform, SFC’s new cybersecurity guidelines and best practices, and how cloud can help brokerage firms instill best practices into their operations. He added, "Cloud computing delivers hug value to companies adopting the new pillar tech. The many advantages include reduced IT costs, umbrella protections with the advanced cybersecurity technologies available with the service, and accelerated business innovation."
Kok-Tin, Partner in PwC's Cyber Security & Privacy
Ken Ho, HUAWEI senior business development manager, gave a presentation on how brokerage firms can get started on their cloud journey with HUAWEI solutions. He stated: "Firms need to invest a lot of money to handle traffic bursts if they opt to stay with a traditional layout. That results in a lot of overkill because traffic volumes are not consistent. Many firms have a mashup of heterogeneous equipment that complicates O&M, so lots of silos result as well. Public cloud is an efficient way to overcome all the challenges as resources can be quickly provisioned and scaled, and you only need to pay for what you actually use."
Ken Ho, HUAWEI Senior Business Development Manager
Jason Jiang, COO at HUNDSUM, shared some suggestions on global training platform construction. Investors now require an integrated, highly efficient brokerage system. Brokerage firms require integrators able to provide systems that are highly modularized and standardized yet also customizable to suit the particulars of their organization. He recommend brokerage companies adopt public, private, or hybrid cloud profiles to stay innovative and achieve cost efficiencies that are impossible to obtain in traditional layouts. Mr. Jiang added, "Public cloud is perfect for hosting stock and securities listings and information, trading apps, and a long list of other applications."
Jason Jiang, COO at HUNDSUM
Edicon Lai, senior manager at AASTOCKS, presented on how cloud solutions improve the service delivery at this organization. He stated: "AASTOCKS was facing a number of challenges, including ever-increasing demands on processing power, the need to dynamically allocate resources to keep up with the fluctuations in activity on the market – something that was proving to be difficult in the previous layout, strained network resources during peak hours, and complicated server farm management and monitoring requirements. The cloud helped AASTOCKS address the challenges. We now enjoy on-demand allocation and can even isolate our critical data onto dedicated physical resources. We can scale up or down whenever needed with fast and easy deployments. The global layout of datacenters also equips us with the ability to quickly expand into new markets."
Edicon Lai, Senior Manager at AASTOCKS
Steven Xiao, lead of cloud business & enterprise business at CMI, talked about the cloud integrated network that is in full compliance with regulatory trading rules. He expanded on the ways the innovative platform is helping stock exchanges and securities firms enhance agility and flexibility in the cloud era.
Steven Xiao, Lead of Cloud Business & Enterprise Business at CMI