CIO Perspective
Bask , New User
CIO Perspective
A Conversation with New York Stock Exchange CIO Peter Leukert
Oct 15, 2012

Today Juniper released the results from our new report conducted by Forrester Consulting, “Building For the Next Billion: What The New World Of Business Means For The Network,” to understand how the exponential scale in data is helping companies capitalize on new business opportunities.

 

When I got started in this industry, our framework for measuring information was the physical page. We calculated data transmission in bytes and assessed the markets for our products in terms of thousands of customers. Now we think about information in terabytes and speed in gigabytes. We are creating products to reach billions of customers.

 

I recently asked Juniper customer, New York Stock Exchange Euronext CIO Peter Leukert, how his organization is navigating this exponential scale…

 

How is the NYSE “building for the next billion”?

 

In our business we have actually been building for the next billion for quite some time, it’s at the core of everything we do.  In fact, it’s that kind of planning that brought us to Juniper during the design of our Liquidity Centers in the U.S. and Europe in 2008 and 2009.  We have the capability to process over 10 billion transactions and messages in a day that can generate as much as 10 Terabytes of data, all of which must be saved and effectively stored for long periods.  In 2010 alone we saw our message traffic peaks double from one day to the next and we continue to see exponential message growth in many of our markets.  That’s a growth curve we don’t expect to see flatten any time soon.

 

In general terms we require an infrastructure capable of supporting billions daily transactions and quotes with petabytes of data across diverse asset classes and geographies, no small feat of computing power and storage.  Given the unique needs of our industry, regulators and customers, we are constantly reassessing our systems, our capacity and our ability to adjust to changing volumes that include intra-day peaks, long term trends and unexpected market activity.

 

Planning for the next billion has long been a part of our process and a key criteria in the technology we use as well as the vendors we partner with.  That strategy culminated in the 2010 launch of our data centers that are connected to our always-expanding global Secure Financial Transactions Infrastructure (SFTI) network and Universal Trading Platform (UTP), our globally integrated trading platform that efficiently links our customers to our global markets.  My job is to drive efficiencies for our business and our customers while finding new ways to innovate processes and stay ahead of the industry growth trajectory.

 

What sort of challenges is the exponential growth in data creating for the network and your business?

 

As a fully regulated market operator and financial technology innovator, our mission has always been to provide fair and orderly markets that are the world’s most reliable and accessible.  In working toward our goal of 100% uptime we are continually searching for ways to further optimize our platforms to ensure that they run not only more quickly but with greater overall efficiency and in an increasingly integrated manner.  Customers are trading a range of financial instruments around the world and we want to facilitate that as easily and effectively as possible. 

 

Managing the exponential growth in transactions and data is a challenge for all market participants.  Whether it’s done through our traditional exchange business or our commercial technology unit, NYSE Technologies, we are committed to developing solutions that empower our industry to continue to grow and evolve.

 

How are you navigating the challenges of exponential scale to capitalize on new business opportunities?

 

For NYSE Euronext, our focus in developing and deploying technology has been to leverage our unique technology assets, global footprint and dedicated customer base to build highly integrated markets, easily accessible platforms and necessary trading solutions that empower customers to focus on their business rather than managing complicated connectivity and infrastructure.  We operate an integrated set of global markets that utilize our Universal Trading Platform to offer customers one simplified point of entry to our 15 global markets. 

 

Further amplifying that integrated approach is our separate, market agnostic NYSE Technologies business that sells much of the same technology we use to other markets, banks and firms around the world.  We can even host them in one of our global data centers and connect them to SFTI and our global liquidity center network.  In essence, our business opportunities are driven by the needs and strategies of our customers. 

 

In facilitating fast, efficient global access using the very same state-of-the-art technology used to power our own markets, we are building a global capital markets community unlike anything we believe other combinations of vendors can do.  As a technologist, it’s really exciting for me to be a part of such a limitless concept that will require innovation, flexibility, problem solving, and deep customer and vendor interaction.  We have some incredibly exciting days ahead, and behind as well.