TP ICAP Group, the global provider of financial markets infrastructure and data solutions, has announced a seven-year strategic collaboration with Amazon Web Services (AWS), with the goal of modernising TP ICAP’s technology infrastructure, enhancing its digital platform, and advancing innovation through AI and cloud capabilities.
A central focus of the partnership is the development of Fusion, TP ICAP’s flagship cloud-based digital platform, designed to support clients throughout the transaction lifecycle. AWS Professional Services engineers will collaborate with TP ICAP’s technology teams to co-develop the platform, utilising data analytics and generative AI tools to improve development efficiency. This is expected to more than halve product development times and increase TP ICAP’s IT workload on AWS Cloud to over 80%, enhancing scalability and speed.
“There are two core themes of the Professional Services delivery,” John Kain, Head of Financial Services Market Development at AWS, tells TradingTech Insight. “First is to apply AWS’ well architected principles across architecture, platform engineering and observability, co-engineering alongside TP ICAPs existing platform teams across devops, security, cloud operations, cloud architecture and data engineering to deliver the strong cloud foundations to host the Fusion platform, the second focuses on increasing developer velocity, accelerating the speed to market of new products and features, using AWS ProServe’s Application engineering experience in FSI and AWS GenAI developer tooling, forming product-centric, dedicated, cross functional teams.”
Accelerated Development
Max Spoto, Group Chief Operating Officer at TP ICAP, elaborates: “Our partnership with AWS will significantly accelerate the development of Fusion, enabling us to reduce product development times and deliver superior value to our customers. By leveraging generative AI, we will be automating repetitive tasks like code generation and performance testing, freeing up our teams to focus on innovation. These efficiencies are expected to reduce coding time by at least 25% and accelerate time-to-market for new features.”
He continues: “Cloud-native approaches further enhance our agility, for example, allowing us to scale applications seamlessly, deploy updates with zero downtime, and ensure higher resilience. This positions us to deliver consistently excellent experiences to our customers while staying ahead in a competitive market.”
However, achieving these gains will require overcoming challenges such as legacy system migration, effective data integration, and ensuring robust security, notes Spoto. “AWS will play a pivotal role in helping TP ICAP mitigating these obstacles. Their automated migration tools simplify transitions from legacy systems, while their data integration services will allow us to unify and leverage our datasets efficiently.”
Sustainability
Together, the companies plan to explore opportunities to create sustainability-focused trading solutions, supporting the Energy Transition. This includes initiatives to assist Amazon’s suppliers with decarbonisation plans, in alignment with Amazon’s 2040 net-zero carbon ambitions.
“This is a really important element to the agreement,” states Spoto. “TP ICAP is the world’s largest Energy and Commodity broker with a global network of offices covering every major asset class. We see the Energy Transition as a major opportunity for growth. Around one third of our existing clients already actively trade Energy Transition products and we expect this to ramp up as new clients enter the market.?We will therefore work with AWS to explore opportunities to co-develop innovative sustainability-focused trading solutions.”
He continues: “Additionally, Amazon has been very public about its ambition to achieve net zero carbon emissions by 2040 across its own operations, and those of its supplier network. Given the size of Amazon, and Amazon Web Services, that is a lot of renewable energy! As part of our agreement, we therefore will work closely with AWS to support Amazon’s suppliers to develop plans to decarbonise their own operations.”
AI & Innovation Lab
AWS will also help TP ICAP establish an AI and Innovation Lab to develop and scale AI-driven solutions. Building on prior successes such as automating regulatory governance reviews and creating a chatbot for client engagement analysis, the lab will focus on leveraging AWS tools like Amazon Bedrock to accelerate innovation and enhance productivity.
“The launch of the AI and Innovation Lab marks a significant step in leveraging the significant advancements in generative AI technology,” declares Spoto. “Building on two years of collaboration with AWS, we’ve achieved impactful results, such as automating regulatory comparisons—reducing processing times from months to minutes—and using AI to gain deeper insights into client needs, enabling more tailored solutions. Working closely to understand our clients’ needs, the lab will allow us to identify new opportunities to enhance the trading lifecycle. Those could, for example, derive from investigating ways to generate actionable insights from unstructured data, such as voice and messaging, leveraging our unique data assets, and examining approaches for real-time market analysis. These efforts aim to support more informed decision-making, reinforce compliance, and ultimately deliver value to clients.”
He continues: “AWS has a wealth of AI models and data scientists. We will work together to leverage these resources and invest in TP ICAP teams, so that they have the skills and the tools to develop powerful AI-driven solutions. The lab is a great environment to experiment and innovate, and will build on our successful AI projects to date.”
Cloud Migration
The partnership aligns with TP ICAP’s ‘All in on Cloud’ strategy, which targets migrating over 80% of its technology infrastructure to AWS by 2026. This transition is expected to reduce reliance on physical data centres, cut carbon emissions, and deliver significant cost savings.
“Achieving our goal of migrating 80% of TP ICAP’s technology infrastructure to AWS Cloud by 2026 reflects our commitment to modernisation and builds on more than a decade’s experience with cloud services,” says Spoto. “With over half of our workloads already in the cloud, including Fusion—one of the first financial trading systems to leverage cloud infrastructure — we start from a position of deep expertise in developing and managing cloud-based solutions.”
He continues: “As part of this transformation, we are embarking on an ambitious application simplification program aimed at significantly reducing the number of systems in operation. This initiative will not only modernise our strategic applications to fully harness the advantages of cloud technology but also further de-risk the migration, streamlining dependencies and simplifying the overall infrastructure landscape.”
The migration strategy follows a carefully phased approach, prioritising the assessment of dependencies and creating tailored plans for each workload, explains Spoto. “Critical systems are transitioned in stages, leveraging AWS’s advanced migration tools to ensure a seamless process. To maintain operational integrity, we conduct rigorous testing and validation at every step, safeguarding performance and data quality. Throughout this journey, transparent communication with clients remains a priority. By addressing concerns proactively and providing clear updates, we ensure client confidence while driving forward a robust, future-ready infrastructure.”
The partnership with AWS will play a key role in TP ICAP’s digital transformation, allowing the company to differentiate from competitors by delivering scalability, innovation and advancing its sustainability goals, states Spoto. “With what we believe is the best technology in the industry, we are investing heavily in our people and teams to fully harness its potential. AWS’s cloud infrastructure enables dynamic scaling, rapid product deployment, and agility in adapting to market demands, providing a clear competitive advantage. Combined with the deepest liquidity in the market and strong client relationships, we are well-positioned to lead in the financial markets infrastructure space.”
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