Wednesday 16 May 2012

The initiative that will probably shake the entire Capital Markets Industry...

A new Open Source foundation will probably change the face of the entire Capital Markets industry IT working model (sourcing, costs, time to market...). Its name? The Lodestone foundation.

The foundation will focus on delivering shared implementations of core services that Banks find themselves implementing time and time again. For example the foundation could deliver enterprise grade reference data platforms, market data platforms, OMSs, algorithm containers, trade repositories, grids for risk, pricing, etc. Some of those services could even be offered as a shared infrastructure, on the cloud.

The idea: to reverse the trend of innovation within the banking industry, by attracting some of the top  worldwide class experts you can find in technology today in an open source foundation dedicated to work on common financial blocks, and sponsored by some of the major actors of the Capital Market industry.

I bet that once the first tier-one sponsors names will be published, it will motivate lots of other financial actors (in order to have the opportunity to influence and participate with the foundation workgroups).

Thanks to my friend Olivier, for having shared with me this amazing initiative.