CMC Markets Plc (LON:CMCX), a major provider of online trading and institutional technology solutions, has today announced that it has selected Amazon Web Services (AWS) to help deliver the next phase of its digital transformation through accelerated delivery of new products and services.
The adoption of AWS is set to add agility, security, and resiliency for CMC Markets to deliver on its ambitious product development pipeline.
Instead of focusing on the undifferentiated heavy lifting of managing servers, by using AWS CMC Markets has freed up valuable development hours, taking delivery time from 6 months to 6 weeks in turn allowing clients to benefit from the faster access to CMC Markets’ new product innovations.
Brendan Foxen, Chief Technology Officer at CMC Markets commented:
“Over the last 10 years, our product offering, trades executed and volumes of data have grown considerably. Adopting AWS and using the highest levels of abstraction and native services allows us to develop our product offering with a far greater speed and richness of customer experience, underpinned by the scale and reliability of AWS services.”
For new product builds, CMC Markets will primarily be using AWS’s cloud native, serverless services including AWS Lambda, Amazon API Gateway, AWS Fargate and Amazon DynamoDB. New data management requirements will be addressed through the use of AWS’s data and storage services which includes Amazon Simple Storage Service (Amazon S3), Amazon Athena, Amazon Redshift and AWS Glue.
Brendan Foxen continued:
“We have already seen outcomes such as reducing the time taken to push changes into our production environment going from days or weeks to as little as 30 minutes. We expect this agility and speed to continue improving as we expand and accelerate our digital transformation in 2021. Going forward, if there is a suitable AWS service for our needs, we will choose that over on boarding a new service provider.”
CMC Markets says it plans to launch a raft of new products in the New Year. Hence, the enhanced infrastructure will play a critical role in ensuring new and existing customers alike can continue to receive the highest quality service.
Let’s recall that, as per the latest trading update issued by the broker last week, in Q3 2021, the entire business has continued to perform very well, with high active client numbers resulting in strong client trading activity, although at lower levels than earlier in the financial year. In addition, client income retention remained well in excess of 80%.
CMC Markets said its investment in platform technology continues to attract and retain premium clients, with market leading functionality and robust operational performance.