With new service, Nasdaq brings Wall Street data to Amazon’s cloud

Grazed from GigaOM. Author: Derrick Harris.

Nasdaq OMX is offering a new service called FinQloud for financial services clients that want to store regulatory data or analyze trade data using on-demand resources. Built atop Amazon Web Services, the service seems to be the result of a close partnership between the two companies.

Nasdaq OMX is offering a new cloud computing service for storing and analyzing financial trading data, and it’s built atop the Amazon Web Services cloud. The service, named FinQloud is comprised of a regulatory data retention product called Regulatory Records Retention, or R3, and an on-demand analysis tool for trade data called Self-Service Reporting, or SSR. Given the seemingly close partnership between AWS and Nasdaq, FinQloud looks like another step in AWS’s quest to prove itself ready for enterprise workloads and might suggest more such partnerships to come…

For its part, FinQloud is about what it sounds like. According to a Nasdaq press release announcing the service: “The platform combines AWS’s secure, flexible, and cost-effective cloud infrastructure with NASDAQ OMX’s experience in providing technology and advisory services to exchanges, regulators and broker-dealers that operate within a complex global regulatory framework. FinQloud may be used by a variety of financial services firms managing data not only from NASDAQ OMX but also from any number of sources.” In order to meet stringent regulatory compliance requirements, all data connections to FinQloud will pass through an encryption system housed in a Nasdaq data center before making their way to AWS’s infrastructure, and use of R3 will be contingent on clients showing appropriate documentation to regulators…

Read more from the source @ http://gigaom.com/cloud/nasdaq-brings-wall-street-data-to-amazons-cloud-with-new-service/