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Cloud computing cuts costs of storage
Source: Agencies |
September 26, 2012, Wednesday
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Print Edition
Print Edition
NASDAQ OMX yesterday launched a cloud computing platform built by Amazon Web Services which it said would allow its trading clients to cut the cost of storing financial data.
The system, FinQloud, is a response to regulators' growing demands that companies provide more granular data on their trading activities.
Policymakers in the US and Europe want banks and brokers to provide them with more detailed information on their day-to-day operations to help authorities spot illicit or risky trading patterns.
The world's largest banks and brokers have historically used specialist in-house systems for data storage, citing security concerns about external platforms.
The system, FinQloud, is a response to regulators' growing demands that companies provide more granular data on their trading activities.
Policymakers in the US and Europe want banks and brokers to provide them with more detailed information on their day-to-day operations to help authorities spot illicit or risky trading patterns.
The world's largest banks and brokers have historically used specialist in-house systems for data storage, citing security concerns about external platforms.
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