How the Cloud Has Revolutionized FINRA Technology
07/03/18 • 25 min
When you think of financial regulation, you don’t typically think of innovation, but in fact, FINRA was an early adopter of the cloud for critical business functions.
Today, FINRA has more than 30 petabytes of data in the cloud—or about 60 million years’ worth of MP3 music. With the cloud, FINRA has been able to build a massive data lake that allows its regulatory staff to conduct business more efficiently and more effectively than ever.
In this episode, FINRA’s Chief Information Officer Steve Randich joins us to discuss all this and more. Plus, we learn why Steve turned down a promising career in the dishwashing industry to end up working in technology.
Resources mentioned in this episode:
Moving Your Production System to the Cloud? 6 Things You Need to Know
How the Cloud Is Changing Financial Regulation
*Note: * Steve misspoke when describing the size of a petabyte. One petabyte would be equal to about 2,000 years' worth of music files, so 30 petabytes would be equal to about 60,000 years' worth of files.
When you think of financial regulation, you don’t typically think of innovation, but in fact, FINRA was an early adopter of the cloud for critical business functions.
Today, FINRA has more than 30 petabytes of data in the cloud—or about 60 million years’ worth of MP3 music. With the cloud, FINRA has been able to build a massive data lake that allows its regulatory staff to conduct business more efficiently and more effectively than ever.
In this episode, FINRA’s Chief Information Officer Steve Randich joins us to discuss all this and more. Plus, we learn why Steve turned down a promising career in the dishwashing industry to end up working in technology.
Resources mentioned in this episode:
Moving Your Production System to the Cloud? 6 Things You Need to Know
How the Cloud Is Changing Financial Regulation
*Note: * Steve misspoke when describing the size of a petabyte. One petabyte would be equal to about 2,000 years' worth of music files, so 30 petabytes would be equal to about 60,000 years' worth of files.
Previous Episode
What is FINRA’s Dispute Resolution Forum?
FINRA operates the largest securities dispute resolution forum in the United States, with disputes resolved through arbitration and mediation. But for those unfamiliar with arbitration or mediation, it can be a confusing process.
What is FINRA arbitration? How might you end up with a case in arbitration or mediation? What’s the difference between the two? What does the process look like?
In this episode, FINRA’s Head of Dispute Resolution, Rick Berry, answers these questions and more.
For more about FINRA arbitration, visit our website.
Next Episode
How the Cloud and Machine Learning Have Transformed Market Surveillance
Every day, FINRA processes roughly 60 billion market events. This includes stock orders, modifications, cancellations and trades from the moment orders are placed, as they move through the markets and are executed. And FINRA not only processes a massive amount of data each day, but also must analyze it to uncover misconduct.
How does FINRA surveille this enormous volume of data to find instances of abusive activity? With exceedingly sophisticated technology and highly adept analysts in FINRA’s Market Regulation and Transparency Services group. Today we sit down with Tom Gira the head of the department and a 25-year veteran of FINRA.
Tom explains how FINRA’s use of technology, specifically the cloud and machine learning, has improved FINRA’s quality of regulation, furthering the organization’s mission of market integrity and investor protection.
Resources mentioned in this episode:
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/finra-unscripted-395876/how-the-cloud-has-revolutionized-finra-technology-55757318"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to how the cloud has revolutionized finra technology on goodpods" style="width: 225px" /> </a>
Copy