September 25, 2012
NEW YORK, Sept. 25 — The NASDAQ OMX Group, Inc. today announced the launch of FinQloud, a new cloud computing platform powered by Amazon Web Services (Nasdaq:AMZN) and exclusively designed for the financial services industry. The offering combines the cloud computing expertise of AWS along with the financial services expertise of NASDAQ OMX.
FinQloud is a platform for financial services applications that provides efficient management and storage of financial data that helps market participants streamline operations and meet regulatory compliance requirements without making costly capital expenditures for their underlying infrastructure. 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.
Financial services firms are faced with new compliance requirements which aim to increase transparency by providing regulators with access to more granular data around financial activities. In turn, the volumes of data and cost of data management for firms are increasing. FinQloud provides customers with a secure, "industry-only" cloud platform for financial services applications designed to immediately reduce technology burdens, aid in compliance and refocus resources on revenue driving operations. These economic benefits are made possible because of the scalability of a fully managed cloud solution that includes infrastructure data management, virtualization and hosting.
As part of the initial launch, NASDAQ OMX plans to offer two solutions: Regulatory Records Retention (R3) and Self Service Reporting (SSR). R3 will provide broker-dealers with a storage and retrieval tool to help meet U.S. Securities and Exchange Commission Rule 17a-4 record retention obligations at substantially reduced cost and complexity. SSR will enable broker-dealers to perform fast, on-demand analysis and reporting on their stored trade data. Both R3 and SSR will be hosted on FinQloud and tailored specifically for members of the financial services industry. R3 is expected to be available in the coming months. To meet the stringent operational and regulatory security requirements of the financial services industry and to protect data integrity, all connections to FinQloud will be required to pass through a rigorous encryption key management system, scheduled to be available in the coming months. The encryption key management system will be housed in private NASDAQ OMX data centers before directly connecting to AWS. A client's use of FinQloud's patent pending R3 application will be subject to submission of required documentation to their applicable regulator.
Eric Noll, executive vice president of Transaction Services U.S. and U.K. at NASDAQ OMX, said: "Working with AWS, the leader in cloud technology, demonstrates our commitment to provide innovative solutions to the financial services industry at large. FinQloud, as a protected warehouse for regulated data, fosters efficient and reliable markets for investors. We will continue to work with AWS on cloud technology offerings that foster transparency and improve the quality of our markets."
Andy Jassy, senior vice president of Amazon Web Services, said: "Financial services customers have unique regulatory requirements for many of their IT projects, and high expectations for operational performance. With the strong reliability, low cost, unmatched platform capabilities, and agility that AWS provides, NASDAQ OMX's FinQloud offerings, R3 and SSR, are tailor-made for AWS and cloud computing. Storing and retrieving data can be done quickly, easily, and inexpensively. And with the scalability, cost-effectiveness, and flexibility of the cloud, customers can quickly conduct analysis and reporting regardless of the amount of data. With FinQloud, we're pleased that NASDAQ OMX will be able to combine their expertise in financial markets and regulatory compliance with the enterprise-class capabilities of the AWS Cloud."
About NASDAQ OMX
The inventor of the electronic exchange, The NASDAQ OMX Group (Nasdaq:NDAQ), Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade – from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 24 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.999% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Source: NASDAQ OMX Group, Inc.
The ever-growing complexity of scientific and engineering problems continues to pose new computational challenges. Thus, we present a novel federation model that enables end-users with the ability to aggregate heterogeneous resource scale problems. The feasibility of this federation model has been proven, in the context of the UberCloud HPC Experiment, by gathering the most comprehensive information to date on the effects of pillars on microfluid channel flow.
Large-scale, worldwide scientific initiatives rely on some cloud-based system to both coordinate efforts and manage computational efforts at peak times that cannot be contained within the combined in-house HPC resources. Last week at Google I/O, Brookhaven National Lab’s Sergey Panitkin discussed the role of the Google Compute Engine in providing computational support to ATLAS, a detector of high-energy particles at the Large Hadron Collider (LHC).
Frank Ding, engineering analysis & technical computing manager at Simpson Strong-Tie, discussed the advantages of utilizing the cloud for occasional scientific computing, identified the obstacles to doing so, and proposed workarounds to some of those obstacles.
May 23, 2013 |
The study of climate change is one of those scientific problems where it is almost essential to model the entire Earth to attain accurate results and make worthwhile predictions. In an attempt to make climate science more accessible to smaller research facilities, NASA introduced what they call ‘Climate in a Box,’ a system they note acts as a desktop supercomputer.
May 16, 2013 |
When it comes to cloud, long distances mean unacceptably high latencies. Researchers from the University of Bonn in Germany examined those latency issues of doing CFD modeling in the cloud by utilizing a common CFD and its utilization in HPC instance types including both CPU and GPU cores of Amazon EC2.
05/10/2013 | Cleversafe, Cray, DDN, NetApp, & Panasas | From Wall Street to Hollywood, drug discovery to homeland security, companies and organizations of all sizes and stripes are coming face to face with the challenges – and opportunities – afforded by Big Data. Before anyone can utilize these extraordinary data repositories, however, they must first harness and manage their data stores, and do so utilizing technologies that underscore affordability, security, and scalability.
04/02/2012 | AMD | Developers today are just beginning to explore the potential of heterogeneous computing, but the potential for this new paradigm is huge. This brief article reviews how the technology might impact a range of application development areas, including client experiences and cloud-based data management. As platforms like OpenCL continue to evolve, the benefits of heterogeneous computing will become even more accessible. Use this quick article to jump-start your own thinking on heterogeneous computing.