One of the reasons there is so much legacy tech in our industry is down to a general fear that the new platform will either not deliver as expected or break a bunch of other systems.
Just to be clear “legacy” doesn’t always mean bad, but these platforms accumulate technology debt at an alarming rate. And the tendency is to simply kick the can down the road, patch the old and hope that paying off this debt will become someone else’s problem. More to the point, a trader’s primary objective is to monetize data, and becoming data-centric is the answer. But this is only possible with contemporary technology that allows systems to bend around the user rather than the other way around.
At valantic, we have developed a range of methods to deliver new tech easier, faster and at a lower risk. At the heart is a philosophy of augmentation rather than rip and replace. Technologies like Mesh Application Services Architecture (MASA) make this possible and support the creation of HTML5 front ends that source data from both legacy and other 3rd party platforms. In this way, technology debt can be paid off incrementally, and firms can embark on a path of continuous innovation.
Change is never easy, but legacy thinking can be as much of a problem as the systems themselves.