To get the benefit, you need the securities models…and the data to feed the models…real-time prices…covariance matrices…volatility surfaces…at which point you're living in a very Goldman world. Not that that's a bad thing but it creates a lot of lock-in.

Also I'm not sure what the upside is to letting people run on-premises, vs. providing cloud APIs based on it (they make it sound like the former).

Just the software, without the models, data, strategists, is kind of like providing a proprietary environment of Microsoft SQL + R.