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The FinCloud I Am Looking ForPatrick Kerpan, CEO, Cohesive Networks

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About Me• Currently CEO of Cohesive Networks, prior CTO of

CohesiveFT, GM and CTO at Borland Software.

• Previously MD of Derivatives Technology CIBC, Global Head of Financial Engineering Applications (trading, risk, sales, pricing, maths, stats) for Swiss Bank Corp (now UBS).

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Background

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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?

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Prices - Are they News or Data? (Delay from exchange)

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PRICES / QUOTES

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Prices - Are they News or Data? (Delay from portals)

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PRICES / QUOTES

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Prices - Are they News or Data? (lots of paid services)

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PRICES / QUOTES

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Human “consumable” - less visible is machine consumable

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Contract Specs

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I want all listed instruments, options, globally, their structures, etc..

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Reference Data

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Lots of Granularity Needed!

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Calendar Service

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Need services - not libraries

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Models

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Looking for Position DB-as-a-Service

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Positions

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APIs to Everything!

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APIs

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Pay-as-you-go….hmmmm

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Pay-as-you-Go

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Nothing like this with financial data…yet

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WHAT’S OUT THERE?

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Nothing like this for position DB…yet

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WHAT’S OUT THERE?

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A pseudo-cloud that came and went…

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WHAT’S OUT THERE?

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The Closest Thing I Found…

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WHAT’S OUT THERE?

DON’T RED CARD MEI DO NOT

KNOW THEM!!!

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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.

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WHAT’S OUT THERE?

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I guess I am looking for Hacker FinCloud

•Complete price transparency

•Comprehensive trials

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WHAT’S OUT THERE?

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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.

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WHAT’S OUT THERE?

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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.

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