The term “Cloud” signifies a model for enabling ubiquitous, convenient, on-demand network access to a shared pool of configurable computing resources (e.g., networks, servers, storage, applications and services) that can be rapidly provisioned and released with minimal management effort or service provider interaction.¹

“Cloud” gets distinguished into three layers referring to the services provided:

1. Infrastructure as a Service (IaaS): the provision of storage space
2. Platform as a Service (PaaS): the provision of services, for example data bases
3. Software as a Service (SaaS): the provision of entire programmes over the network like applications 

While in everyday life, most persons use the cloud to stream music and videos or save documents and pictures online, in the financial sector, it is used by companies for enterprise applications and to boost technical innovations.

Chances

The opportunities offered by the Cloud are at hand. It offers the possibility of a rapid modernisation of companies incorporating new technology quickly as well as state-of the art security.

One of the cloud projects DBG pursues is the multi-vendor strategy for cloud usage together with its’ partners. This strategy offers the possibility to leverage each providers’ strength and avoid dependencies from single partner set-up. 

Regulatory initiatives

Many countries as well as institutions, like the European Commission, European Securities and Markets Authority (ESMA) and the International Organisation of Securities Commissions (IOSCO) started regulatory initiatives to provide more certainty surrounding the use of Cloud technology and DBG is closely monitoring the on-going developments and actively participates in consultations.

_{¹ National Institute of Standards and Technology, 2011. ‘Computer Security’ can be accessed here.}