5 Benefits of Cloud-Based Order Management for Asset Managers

5 Benefits of Cloud-Based Order Management for Asset Managers

By Mark Bevington

“The secret of change is to focus all of your energy not on fighting the old, but on building the new.”

That’s a quote from Socrates – one of those thought leaders who we’re pretty sure knew what he was talking about.

And he has a point here – sometimes success isn’t about taking old systems and making them work. Rather, it’s about finding new solutions that work better for you and your customers.

Take trading platforms, for example. Cloud-based order management has been around for years now, and yet so many firms are still working to make their legacy technology fit their growing needs. In fact, Bloomberg reported in 2022 that over half of all software applications still rely on on-premise hardware.

But the truth is that the modern tech stack lies in cloud-based systems: new technologies that bring faster, more secure capabilities to asset managers everywhere.

Related: 4 Ways Asset Management Technology Can Boost Your Firm’s Growth in 2023

So if you’re looking to let go of something old and embrace something new in your trading process, we’re here to help. We’ve outlined the top five reasons why cloud-based trading beats out on-premise trading platforms each and every time – let’s get started.

5 Benefits of Cloud-based Order Management

The results are in: If you’re a growing asset management firm looking to reduce costs, increase efficiency, and boost your security – it’s time to make the switch to a cloud-based trading platform.

Here are the top five benefits of cloud-based trading you can expect as an asset management firm:

Scalable Infrastructure

In this new age of remote work, accessibility and efficiency are everything – and trading is no exception.
Related: Four Ways to Make Trade Creation More Efficient

With cloud-based order management systems, traders can access their data from any place with an internet connection. You don’t have to run back to the office every time you need to make a trade anymore – now you have the flexibility to work from anywhere, which ultimately serves both your team and your clients more effectively.

Beyond that, cloud-based trading platforms offer the ability to scale trading operations up or down quickly based on demand. For example, during periods of high market volatility, you can quickly scale your operations to take advantage of market opportunities.

Lower Costs

Traditional trading approaches often rely on local servers and hardware, which require costly maintenance, occasional upgrades and expensive software licenses necessary for their functionality. You’ll also need to factor in the physical space required to house on-premise equipment, including the electricity costs associated with owning your own trading hardware.

In contrast, cloud-based trading cuts down on many of these costs, especially as your firm scales. By leveraging the infrastructure provided by cloud service providers, you eliminate the need for expensive hardware and maintenance – only paying for the resources you really need to use.

Increased Security

You wouldn’t write down your computer password and leave it next to your monitor, would you?

Similarly, keeping your clients’ sensitive data in the same building as all your security information and passwords leaves your firm vulnerable to security breaches.

Cloud-based order management allows you to enable two-factor authentication and encryption methods that help ensure your data and trades are secure.

Cloud-based trading platforms are often hosted on secure servers provided by third-party service providers, such as Amazon Web Services or Microsoft Azure. Both of these providers have extensive security measures in place to protect your data and infrastructure from potential threats.

Leveraging third-party expertise and mitigating security risks? That’s a win-win for everyone.

Faster and More Reliable Processes

Cloud-based trading platforms are designed for high performance and fast execution of trades – even at an extremely high volume.

Related: How Asset Managers Can Streamline Post-Trade Processing with Co-Pilot OMS

For example, Flyer’s high-performance computing ensures that trades are executed quickly and reliably (no matter how many thousands of trades need to be executed at once). That level of performance is crucial in today’s fast-paced trading environment, where every second counts to you and your clients.

Real-time Market Data

Lastly, cloud-based trading platforms allow asset managers access to real-time market data that traditional trading platforms wouldn’t. This can help traders make informed trading decisions and react quickly to changes in the market.

Real-time analytics also allow traders to identify opportunities for profitable trades and to quickly adjust their strategies.

The benefits of cloud-based trading can’t be denied. If you’re looking for better client service, more efficient processes and a boost in security – it’s time to make the switch.

Upgrade Your Trading Platform with Flyer

Want to explore more about cloud-based trading software? Have any questions or comments about Flyer’s single-interface trading network? We’ve got you covered.

Click here to learn more about Flyer Trading Network or connect with a member of the Flyer team today and get started.