Nasdaq partners with Amazon to store financial data in the cloud

26.09.2012
Nasdaq has launched a cloud computing platform hosted on Amazon Web Services in a bid to use cloud computing to help market players reduce the burden of increasing regulation and data volumes.

FinQloud will serve as a platform for financial services applications that provide management and storage of financial data.

With increasing compliance requirements being placed on financial firms, where they are being tasked with increasing transparency by providing regulators with access to granular data of their activities, Nasdaq is hoping that FinQloud will provide a solution that is cost effective and scalable.

This is the latest in a string of announcements that have seen financial exchanges branch into .

Two products are being offered as part of the initial launch. The first, entitled Regulatory Records Retention (R3), will provide broker-dealers with a storage and retrieval tool, which Nasdaq claims helps firms meet U.S. Securities and Exchange Commission rules on record retention.

The second, Self Service Reporting (SSR), allows broker dealers to perform on-demand analysis and reporting on their stored trade data.