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copyright 2015
The FinCloud I Am Looking For
Patrick Kerpan,
CEO, Cohesive Networks
copyright 2015
About Me
• Currently CEO of Cohesive Networks, prior CTO of
CohesiveFT, GM and CTO at Borland Software.
• Previously MD of DerivativesTechnology CIBC, Global
Head of Financial Engineering Applications (trading, risk,
sales, pricing, maths, stats) for Swiss Bank Corp (now
UBS).
2
Background
copyright 2015
The Basics of FinCloud
• Prices
• Contract / Instrument specs (reference)
• Calendar Services
• Models
• Position DB
• All with APIs!
• Pay-as-you-Go
• So what’s out there?
3
copyright 2015
Prices - Are they News or Data? (Delay from exchange)
4
PRICES / QUOTES
copyright 2015
Prices - Are they News or Data? (Delay from portals)
5
PRICES / QUOTES
copyright 2015
Prices - Are they News or Data? (lots of paid services)
6
PRICES / QUOTES
copyright 2015
Human “consumable” - less visible is machine consumable
7
Contract Specs
copyright 2015
I want all listed instruments, options, globally, their structures, etc..
8
Reference Data
copyright 2015
Lots of Granularity Needed!
9
Calendar Service
copyright 2015
Need services - not libraries
10
Models
copyright 2015
Looking for Position DB-as-a-Service
11
Positions
copyright 2015
APIs to Everything!
12
APIs
copyright 2015
Pay-as-you-go….hmmmm
13
Pay-as-you-Go
copyright 2015
Nothing like this with financial data…yet
14
WHAT’S OUTTHERE?
copyright 2015
Nothing like this for position DB…yet
15
WHAT’S OUTTHERE?
copyright 2015
A pseudo-cloud that came and went…
16
WHAT’S OUTTHERE?
copyright 2015
The ClosestThing I Found…
17
WHAT’S OUTTHERE?
DON’T RED
CARD ME
I DO NOT
KNOW
THEM!!!
copyright 2015
I guess I am looking for Hacker FinCloud
• API-first, data-first, objects-first,
services first
• Modeled after things like AWS Big
Data Sets, RDS, Pay-as-you-Go
instances, Marketplace Instances.
18
WHAT’S OUTTHERE?
copyright 2015
I guess I am looking for Hacker FinCloud
•Complete price transparency
•Comprehensive trials
19
WHAT’S OUTTHERE?
copyright 2015
I guess I am looking for Hacker FinCloud
• A “financial milieu”? Something you
can reach into and explore as opposed
to request what you know
• 5 smart guys, some credit cards, and
they can take on larger market
participants on a $for$ basis.
20
WHAT’S OUTTHERE?
copyright 2015
THANKS!
My takeaways from my lightning research
•Is there a market for true “cloudy” financial goods
and services? Doesn’t seem like it.
•Cartel pricing, old business models, and regulatory
structures that tend to favor large institutions over
financial entrepreneurs tilt the playing field.
•My FinCloud is probably coming, but the disruption
is probably 5+ years away.
21

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CloudCamp Chicago April 2015 - Patrick Kerpan's talk "What Financial Cloud Should Be"