We are proud to be the first financial institution in Luxembourg to migrate its entire core financial system to the cloud, said Laurent Pulinckx, CIO at the Luxembourg Stock Exchange, in a Microsoft blog post.
For a long time, the Financial Sector Supervisory Commission forced financial institutions to keep their data in Luxembourg. But when the CSSF was working on a circular to allow financial institutions to migrate their systems to the cloud, we had already defined this upstream migration for some time. We had a number of options to choose from, but Microsoft was by far the most transparent in how it handled security and incidents, which was a key factor for us as we considered how to meet the framework’s requirements, as stipulated by the CSSF. Pulinckx said.
The contract allows the CSSF to carry out a full audit, even if the infrastructures are not domiciled in Luxembourg.
Sustainability is perhaps what characterizes the Luxembourg Stock Exchange best, and we are closely following Microsoft’s efforts to reduce the impact of businesses on the environment, Pulinckx said. However, there are two other words that define us as well. First of all, innovation. We want to be able to get solutions to market faster than anyone else. And second, we want to be agile. Because when you’re small like us, agility is fundamental.
This article was originally published in French on Paperjam.lu
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