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Trading in the Cloud (SaaS/PaaS) vs Local - Which is better?
The general question is simple. With more and more products and services moving to the cloud (SaaS / PaaS), is this something that you are excited to use and leverage, or is it something that concerns you and you avoid, using locally held instead?
I am talking solely about trading applications and nothing else. So please keep your responses squarely focused on how it is applicable to trading. Naturally most of that would apply to other applications too...
Please vote and discuss.
Quick Wikipedia descriptions to define SaaS and PaaS:
I voted for the local only option. I was going to comment that I didn't really know what "SaaS/PaaS" meant, but your useful links cleared that up.
In a trade-related sense, I am very concerned about the issues of security and personal control. Security as it relates to financial information, and control in the simple sense of knowing that my trades are under my control. Right now, I think this tilts the balance toward local apps.
However, I don't see this as being forever.
If a trader has a remote server or virtual server near the exchange and accesses it remotely, he/she is already no longer operating locally, even if the remote app is NT, normally a local application.
Right now, I'm not going to sit in a coffee shop, on a WiFi with unknown security, and access financial information. But that's today; there's an obvious demand for us to be able to, and I think it's going to be met.
So, I would say that in a shorter time than we think, the remote/local, or cloud/local, distinction will pretty much disappear, as everything gets out in the cloud. Security is still the main issue. The "heartbeat" bug, which put SSL in question (sorry, non-techies) shows that we aren't there yet... but we are going to get there.
So today, I'm local. Tomorrow (or a bit later), I'm cloud.
Security is always top of concerns. But there are many advantages of cloud based trading. This is assuming you don't live in Chicago but your cloud does.
What are the pros and cons for each? I'd like to know more about the advantages
I don't see what the down side to cloud based trading is. If you're trading frequently enough then the cost pays for itself, granted the average number of times power or internet is loss.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
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I didn't want to name them as I didn't want to influence this thread. But I will say that during webinars it seems to be users are always asking for cloud based services, yet in the poll so far it's the opposite. I think there might be a disconnect on what it actually means.
Three examples for instance could be X_Trader's ADL, CQG's Autospreader and TT's Nextrader. These run on the server cloud side and not on your local client in terms of how the code is held and executed.
If you also look at more simplistic platforms like NinjaTrader or Sierra Chart, you see a lot of users asking for "server side OCO" all the time. And popularity of VPS's and co-lo is increasing for things like latency improvement and uptime/reliability. There are also advantages of scaling and backup.
