On the occasion of the tenth issue of the big annual conference in Las Vegas, AWS re: Invent, Amazon highlighted its good relationship with two major players in the world of finance: Nasdaq, the second largest in the United States and more than 100 years of investment bank Goldman Sachs.
Amazon has a great relationship with Wall Street
The two cult structures on Wall Street announced a partnership with AWS on November 30. The financial sector is still reluctant to use the cloud for regulatory reasons and doubts about the security of honest confidential data, analyzes Wall Street Journal. However, Nasdaq and Goldman Sachs have a long-standing relationship with AWS.
The CEO of ARM China is still in office
For the past ten years, the investment bank has been moving some of its IT services to the Amazon cloud. The two companies supported each other in different projects, which helped build some trust for the two partners, recalls CNBC.
The same applies to the financial markets company since 2012. Billions of transaction records are already stored in AWS data centers.
Nasdaq will transfer financial markets to AWS
Nasdaq has announced that it has decided to gradually move its markets to the AWS cloud because of this story. Brad Peterson, Nasdaq’s chief information officer, explained Amazon’s choice as follows: We have a long-standing relationship with them “.
The Nasdaq MRX will be the first market to be transferred to AWS in 2022. North American markets will follow over time. After all, within a decade, all 25 Nasdaq markets have to go into the cloud.
The Edge Computing platform was developed by two structures to meet the specific technical requirements of the financial market. The cloud is not necessarily suitable for high-frequency trading, these exchanges of securities at inhuman speed.
The jointly developed solution will be installed at the Nasdaq Data Center in Carteret, New Jersey. It should offer the expected low latency for trading activity and provide lower costs for services for Nasdaq customers, such as machine learning.
The new CEO of AWS after Andy Jassey left to head Amazon, said: Together, Nasdaq and AWS will change what is possible for capital market organizations, helping them accelerate innovation and improve business processes. “Adena Friedman, President and CEO of Nasdaq, boasts.” a truly cloud-based market infrastructure that is more resilient, scalable and accessible to all market participants “.
Goldman Sachs is developing a new cloud financial service
Goldman Sachs has also worked in full agreement with AWS on its new GS financial cloud for data with AWS for two years. The Bank will open access to its market data and software to asset managers.
The goal is to help them free up time for transactions, rather than manipulating datasets and using a set of software to analyze them. The proposal should also facilitate access for new companies wishing to use advanced quantitative trading methods.
At the forefront of cloud democratization AWS is investing in all sectors to sell its services, finance is no exception. Thanks to powerful partners such as Nasdaq and Goldman Sachs, Amazon maintains its leadership in a market that already dominates.