A significant partnership has been established between the London Stock Exchange Group (LSEG) and OpenFin, a leading provider of Chromium container and workspace technology to the financial sector. LSEG aims to enhance the distribution of its next-generation data and analytics to customer desktops via its flagship LSEG Workspace platform, using OpenFin’s secure zero-install delivery model and container technology.
LSEG Workspace, utilised by financial market professionals worldwide, is an end-user platform providing wealth advisors, research analysts, portfolio managers, investment bankers, and traders with access to data, news, analytics, and productivity tools.
The collaboration with OpenFin comes in the wake of LSEG’s recently announced 10-year strategic partnership with – and investment from – Microsoft, under which LSEG’s data infrastructure will be architected using the Microsoft Cloud and the two companies will jointly develop new products and services for data and analytics.
Through this new partnership with OpenFin, LSEG’s Workspace end-user platform will leverage OpenFin’s technology to facilitate streamlined deployment and interoperability with multiple applications. With user expectations shifting toward a mobile experience on the desktop, OpenFin’s productivity-enhancing technology will be a core component of Workspace’s long-term strategy to create a cutting-edge customer experience, according to LSEG.
“Use of OpenFin significantly enhances LSEG’s delivery model and end-user experience, leveraging technology that is already trusted by most global banks and leading asset managers,” commented Borre Wessel, Head of Desktop Platform Technology. “The partnership will leverage OpenFin’s secure zero-install delivery model and container technology to simplify distribution of LSEG’s next-generation data and analytics to customer desktops. Under the partnership, LSEG will migrate LSEG Workspace to leverage OpenFin’s technology, making its platform more easily deployable and interoperable with thousands of internal apps developed by banks and buy-side customers.”
With LSEG Workspace using OpenFin’s technology, LSEG clients will be able to create rich and interactive desktop experiences tailored to their needs; integrate their applications with LSEG Workspace using OpenFin’s interoperability layer; and ensure they always have the latest version of LSEG Workspace through OpenFin’s instant update technology.
“This signifies the next generation of how applications can be displayed and interacted with on a user’s desktop,” Adam Toms, CEO of OpenFin Europe, tells TradingTech Insight. “Interoperability is crucial, but equal attention must be given to the security, stability, and scalability of the browser technology, which has required considerable engineering investment over the years. Firms constantly face the ‘build versus buy’ decision when it comes to technology. Given the sophistication and industry recognition of what we’ve developed, coupled with our significant user base, an increasing number of the largest firms are entrusting us with their most sensitive applications.”
He continues: “LSEG is a multi-faceted organisation with hundreds of applications in use. This partnership is particularly significant because Workspace, LSEG’s flagship application, will be built and deployed using OpenFin technology. Given the number of users involved, the resulting footprint is considerable. This partnership marks a dramatic evolution in our relationship.”
OpenFin’s container technology is co-stable with Google Chromium, ensuring the continuous and seamless delivery of critical security patches and other Chromium engine enhancements to end-user desktops. Its zero-install model, designed in conjunction with major financial institutions, guarantees security and stability while facilitating agile delivery.
“Today, security considerations are paramount in technology selection,” says Toms. “When contemplating strategic partnerships and deciding which technology to rely on, trust is essential. OpenFin’s financial stability, backed by seven of the industry’s largest banks, provides customers with significant reassurance about our position. We’re here for the long haul, committed to the financial sector, and devoted to continually improving our product for the mutual benefit of all parties involved.”
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