The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Avox Migrates to Amazon Web Services Cloud

Avox Data Services has migrated its data servers to the Amazon Web Services (AWS) cloud as part of a strategic move by parent DTCC to adopt technologies with the largest potential to improve applications. Avox is an early adopter of cloud in the DTCC group and says its move to AWS could reduce the cost of Avox entity data, although its focus is more on the ability to scale, develop better data services and add capabilities requested by clients.

The company migrated its core apps, servers, data feeds and clients to AWS at the turn of this month and says that while data will take a different route to clients, there will be no immediate differences that clients will see.

Mark Davies, managing director at DTCC Europe and general manager of Avox Data Services, says that despite previous concerns about the security and privacy of data in the cloud, many of the company’s clients are themselves using or considering cloud solutions that can deliver scale, perhaps for storage, and opportunity, perhaps to test new projects, and acknowledge that cloud is the way the industry is going.

Talking about Avox’s use of AWS, he says: “We should be able to scale faster and at lower cost, develop new data services and make light touch changes. Over time, this could reduce client costs, but the focus is on adding services that clients want, expanding our data population to more than the two million entities we already manage and making more data updates using different public sources.”

With entity hierarchy data already in place, the company is working with structured data to make and map links between companies such as umbrella funds and subfunds, and legal entities and their branches. While Avox is an early adopter of cloud technology within DTCC, other businesses in the group with which it integrates, particularly Clarient Entity Hub, the GMEI utility and Omgeo ALERT, are expected to step up to the cloud soon.

Related content

WEBINAR

Recorded Webinar: How to Create an Agile Trading System

This webinar has passed, but you can view the recording here. High speed, low latency trading connectivity is no longer enough to differentiate you from your competitors – so how do you add value to your trading systems? How can you create a trading platform that is: Flexible enough to accommodate the transaction lifecycle? Powerful...

BLOG

Live at Data Management Summit USA Virtual – Day Two Keynote and Q&As

A-Team Group’s Data Management Summit USA Virtual Day Two was based on the theme of best practices for data driven strategies in today’s new normal. The day started with an informative live keynote from Arvind Joshi, director of data management at Scotiabank, on how to establish data quality for analytics. This was followed by three...

EVENT

TradingTech Summit London

The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.

GUIDE

Tackling the Data Management Challenges of FATCA

As the July 1, 2014 deadline for compliance with the Foreign Account Tax Compliance Act – or FATCA – approaches, financial institutions around the world are working to ensure their data management and operational systems will meet the requirements of the US legislation. This report discusses the requirements of FATCA and how the legislation is...