The Exchanges Sector Need to Evolve Technologically

Kevin Kometer, CIO, CME Group

Kevin Kometer, CIO, CME Group

The exchanges sector is successfully utilizing the data science for enabling better business approaches, in turn accelerating the transformation from historical analytics methods to predictive analytics. Several technical hurdles need to be overcome while incorporating predictive analysis methodologies, yet with data science; the transformation was an easy task. However, the industry continues to strive for technological innovations that possess the ability to enhance performance and predictability in accordance with the requirements. In view of the diverse requirements raised by users and the growing demand for BYOD, technological advancement, to benefit the industry, should be oriented towards increasing the platforms from Windows, Mac, Linux and Mobile. Integration of such technology would pave way for enhanced interoperability in the sector. Another critical requirement is for more services capable of cross-platform functioning so that large-scale cost-cutting is enabled across various organizations. Amidst these, it is a positive sign that there is more awareness on innovative techniques.

A CIO's role is highly Challenging

The demands from business has always been a constant concern; however, there is another critical issue that is affecting businesses around the world; the cyber security. Countering cyber security attacks is at the forefront of our agenda for securing business and maintaining reputation. The threat landscape is ever evolving and turning increasingly sophisticated.

Collaborative Approach leads to Innovative Concepts

Attempts are in full swing at CME towards arriving at ways to enhance a collaborative and cross-functional thinking where individuals and teams come together to deal with major challenges. During these meetings, breakthrough ideas are often the end result that generate outsized value and long- term growth for our customers and business. Also, as part of our Emerging Technology function we have created a cross-functional team called the 'Big Think team' for creating innovative ideas through collaborative problem solving. In addition, Fridays at CME are exclusively for merging innovative strategies into solving vital issues impacting the business scenario, and the concepts are presented during the month-end. These activities have been helpful in formulating innovative strategies. We would be continuing with this collaborative and innovative problem solving methods.

On his favorite Gadget

I am interested in home automation tools, and prefer to buy a ‘Nest’ that would help adjust the room temperature in my home, through an app on my iPad or browser.

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