Wall Street Turns to Cloud to Address Cost, Competition

Grazed from DataCenterKnowledge. Author: Jason Verge.

There is a shift underway in how Wall Street trading firms manage their technology, as financial cloud services aim to reduce the cost of low-latency trading infrastructure and to streamline access to a wide variety of trading applications. Cloud computing has been a savior to those in expense management mode, as well as has been a boon to startup firms.

Several cloud offerings have lowered the barrier to entry, while providing compelling financial considerations to go with a financial cloud service. NYSE EuroNext and NASDAQ OMX Group came to market with financial cloud services in a bid to fill up their data centers, as well as diversify and increase revenue on coattails of their respective brands. Colocation providers like FiberMedia have gone to market with their own vertically-targeted offerings as well, while financial infrastructure services have also become key offerings for providers like Equinix, Telx and Savvis, who all continue to court the financial vertical…

NASDAQ brings Wall Street to AWS

In September, Nasdaq began offering a service called FinQloud to financial services clients desiring to store regulatory data or analyze trade data with on-demand cloud resources through Amazon Web Services. The service consists of Regulatory Records Retention (R3), a regulatory data retention product, and Self-Service Reporting (SSR), an analysis tool for trade data. This provided more credibility in the enterprise world for AWS, which manages financial data from a number of sources in addition to NASDAQ OMX…

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