- TP ICAP will work with 45 AWS engineers to co-develop its Fusion platform, utilizing data analytics and generative AI to speed up product development, improve scalability, and expand its IT workload on AWS Cloud to over 80%.
- TP ICAP and AWS will explore co-developing sustainability-focused trading solutions, while also launching an AI and Innovation Lab to accelerate AI-driven projects and equip TP ICAP’s workforce with advanced AI skills.
What happened: TP Icap cooperates with Amazon Web Services
TP ICAP has signed a significant agreement with Amazon Web Services (AWS) to enhance its technology infrastructure and accelerate innovation. As part of the collaboration, 45 AWS Professional Services engineers will work alongside TP ICAP’s teams to co-develop the firm’s Fusion platform, utilizing data analytics and generative AI to speed up product development and improve scalability. The partnership aims to reduce development times by more than half and increase TP ICAP’s IT workload on AWS Cloud to over 80%.
In addition, TP ICAP and AWS will explore sustainability-focused trading solutions and collaborate on decarbonization plans for Amazon’s suppliers. AWS will also help TP ICAP establish an AI and Innovation Lab to drive AI-powered solutions and provide training for its workforce. This move is part of TP ICAP’s “All in on Cloud” strategy, which plans to migrate 80% of its infrastructure to AWS by 2026, delivering cost savings and reducing carbon emissions.
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Why it is important
The partnership between TP ICAP and AWS is significant for multiple reasons. By migrating 80% of its technology infrastructure to AWS, TP ICAP aims to accelerate product development, enhance scalability, and improve operational efficiency. AWS’s cloud capabilities and AI technologies will help streamline the development of TP ICAP’s Fusion platform, enabling faster delivery of new functionalities and more agile solutions. This collaboration will also allow TP ICAP to reduce reliance on physical data centers and legacy systems, leading to millions in cost savings and a reduction in carbon emissions.
Moreover, TP ICAP and AWS plan to co-develop sustainability-focused trading solutions, further advancing the firm’s environmental goals. The partnership also includes the establishment of an AI and Innovation Lab, which will drive AI-powered projects and upskill TP ICAP’s workforce in advanced AI technologies. With the goal to migrate 80% of its infrastructure to AWS by 2026, this agreement is a major step in TP ICAP’s digital transformation strategy, positioning it for long-term growth and innovation in the financial services industry.
