Data processing giants Google and Amazon Web Services (AWS) have made their grand entry into financial markets infrastructure this autumn – through deals to host operations of, respectively, CME Group and Nasdaq.
With a promise to “co-innovate to deliver expanded access, new products, and more efficiencies for all market participants,” CME Group and Google announced their ambitious collaboration plans in early November. The mutual stake in the project was manifested by Google making a 1-billion-dollar investment into the equity of CME Group. Through a 10-year strategic partnership, they aim to “accelerate CME Group’s move to the cloud and transform how global derivatives markets operate with technology”.
Then four weeks later, Nasdaq and AWS released the news of their collaboration – “a multi-year partnership to build the next generation of cloud-enabled infrastructure for the world’s capital markets”. Starting in 2022, Nasdaq plans to migrate its North American markets to AWS, beginning with Nasdaq’s US options market MRX.
Industry news site The Trade is filing the impact of a continued cloud trend among its main predictions for 2022.