4 Introduction The complexity of the technology and operational environments in which capital markets firms exist is continually increasing due to ongoing regulatory and market practice changes. The internet, the proliferation of content, the democratization of data and analytics, and the abundance of internet-connected devices and sensors have transformed information access and delivery. Firms are collecting more data than ever, both proprietary and external. Aite Group expects spending on alternative data sets to continue to grow at approximately a 20 percent CAGR, exceeding US$901 1 million by 2021. C-suite executives are therefore constantly seeking ways to keep operations lean and to gain a competitive edge by becoming smarter about new technologies, such as cloud, APIs, Machine Learning (ML), and Artificial Intelligence (AI). Hence, cloud has come into frame as a platform for innovation in capital markets. 1 Aite Group, Alternative Data Solution and Service Providers: A Guide, 2018.